Financial Advisor Ottawa – How to Find a Good One
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Having a trusted financial advisor can boost your savings by 60% and retirement consumption by 25%, according to the Conference Board of Canada. A good financial advisor can also help you navigate market fluctuations and make a difference between investing your money wisely or blowing it on unimportant things.
Ottawa Financial Advisors: Investment and Wealth Management
According to FCAC, you might find an advisor at a bank or credit union, a stockbroker or insurance company, or independently through financial planning companies. They can be paid a fee based on the time spent creating a financial plan, a percentage of assets they manage or commission on stock sales.
FCAC says to look for an advisor that focuses on educating and empowers clients to become financially savvy and independent, rather than simply selling their services. You may also want to check an advisor’s certification status, which can typically be found by searching their name online. Lastly, Heath notes to be aware of advisors who criticize your existing investments or promise lofty investment returns, as this is often a red flag.