In Canada, the cost of most financial products today includes the value of advice (working with an advisor) which is embedded in the investment product as a management expense of a mutual fund (MER), interest spread in a GIC or savings product or within the premium amount of insurance. As an example, the “advice” component of a mutual is typically around 1%.
As independent advisors we only recommend proven investments from top tier investment companies or banks. With the cost of advice already built into most products in Canada that means we are compensated in a similar manner to those working for one institution like a bank or insurance companies.
This means that our clients generally pay lower or similar costs to what they are currently paying but receive better (and more consistent) advice and planning along with wider choice of products. Clients do not pay to purchase, redeem or switch between investments and can generally redeem or transfer their investments at any time without cost.
Within this, we provide our financial planning services, including retirement projections, investment recommendations, tax minimization and estate planning.
Trust is built through transparency, and we’re always available to answer any questions related to fees in the industry (or review what you’re currently paying for advice).