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Selecting the Right Financial Advisor

There are thousands of financial advisors across Canada, with a range of qualifications and experience. Here are the five essential steps to find the right one for you:

1. Do a Quick Self-Assessment

If you know your financial goals, you’re  in a stronger position to select the right advisor. Jot down a few details about your near-term and longer-term goals and your attitudes about investing to prepare for a first meeting. Use our Quick self-assessment fillable PDF to get you started.

2. Build a Shortlist of Candidates Based on Word-of-Mouth and Internet Research
3. Interview Your Candidates
4. Check References
5. Rank Your Candidates and Make Your Decision

Creating a Productive Relationship

Working with your financial advisor – clear expectations, annual meeting checklist make for a productive relationship.

Like any relationship, an advisor-client relationship requires ongoing, open communication with clear expectations set on both sides (see “Responsibilities” below). At a minimum, you will probably meet your financial advisor once a year. To make the meeting a productive one, be sure you have a list of topics and questions ready using this Annual Meeting Checklist.

Your Financial Advisor’s Responsibilities to You
  • Act in your best interest
  • Answer questions
  • Identify opportunities and make appropriate recommendations
  • Confirm expectations and investment needs
  • Disclose compensation
  • Discuss risks associated with recommendations
  • Observe and adjust strategy
  • Recognize problem areas
  • Recommend other professionals/experts
  • Report regularly
  • Respond quickly
Your Responsibilities to Your Financial Advisor
© Copyright 2018 Starlight Investments Capital LP. All Rights Reserved.

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