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Do I Need a Financial Adviser?

Businessman Giving out CardA question that many people ask themselves is whether or not they need a Financial Adviser.  The answer is often ‘it depends’.

Often it depends on your personal comfort level and knowledge of investment planning, the availability of time and your level of interest.  The Investor Education Fund provides resources and information about things you should ask and consider when working with a Financial Adviser.  You can access these resources through the Investor Education Fund website.  As well, the Canadian Securities Administrators have developed a guide with advice on how to choose the right adviser.

Should you decide that you would like to hire a Financial Adviser, there are a number of areas and questions that you should investigate prior to moving your investments.  Some areas to explore are outlined in this CBC article about hiring a financial adviser.  CBC Marketplace has also developed a Financial Adviser checklist of items that you should review with any Financial Adviser. As well, you can check to see whether your Financial Adviser is regsistered at the Canadian Securities Administrators website.

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