Submitted by nsscadmin on
There should be more involved in finding an adviser than simply choosing the first person you find when searching on Google. Choosing the right adviser for you takes some time and effort. After all, we’re talking about the person that you’ll be trusting with your money and your financial goals.
When looking for an adviser you may want to ask for referrals from friends or family, or start the search on your own. Either way make sure you can answer the following questions to your satisfaction.
Are they registered?
If they’re advising and selling securities they need to be registered with their provincial or territorial securities regulator.
What is their background?
This includes education, training, their time in the industry and how many clients they currently have. Have they ever been disciplined by a securities regulator or charged criminally? You should know the answers to all these questions.
How are they paid?
What is their fee structure? Are they on salary? Do they charge a commission for transactions? Finding out how your adviser is paid can help you determine how much working with them with cost you in fees.
What products and services do they offer?
Their category of registration will tell you what products they can legally offer you. Knowing they can offer you the securities you are interested in can save you time.
What level of service can I expect?
This question is a must to ensure the expectations you have will be met. If all you want is statements on a regular basis and the occasional check in that should be easily provided. However, if you want more frequent contact or communications you need to make sure you let a potential adviser know this upfront.
