What sources of help and advice can help you make better investment decisions? It will likely be a combination. Print or online sources and financial advisers each have their own advantages, so you’ll likely use these sources at different times. 

Four tips to make better investing choices 

1.      Use more than one source of information: It’s a bit like spreading out, or diversifying, your investments. If you diversify your sources of information, you can balance the story you get from one source against what you hear from another. You can see if they both agree, or ask questions if they don’t.

 

2.     Use more than one adviser if that’s what you need: Different advisers offer different kinds of knowledge and expertise. A mutual fund dealer, an insurance agent, and a financial planner will likely not offer the same products or services. Draw upon different advisers as you need them.

 

3.     Use and reuse the best Internet sources: Using online tools and sources can strengthen your relationship with your adviser. You learn more, ask more questions, and become a better educated investor.

Tip: Set up a folder on your computer to save or bookmark your favourite Internet addresses for information on investing. Revisit the sites from time to time to check for updates and new information. Read newspapers and magazines to find out about new websites and tools that are being developed. 

4.     Use industry regulators and associations as a resource: Is there an investment company whose reputation you’d like to check out? Are you looking for information on a complicated investment question? There are industry regulators, self-regulatory organizations, and associations that help to regulate investment companies and encourage excellence in the field.

Remember: Information helps you build your knowledge and confidence as an investor.

Use a range of sources to build up your personal knowledge over time. The more you know, the more able you’ll be to weigh your options, build an effective plan, and make the right choices. Knowledge brings confidence, and confidence can help a great deal in leading you to ask the right questions and make good decisions.

 

Learn more

To check the reputation of a company selling mutual funds, stocks, and bonds, you can contact your provincial securities regulator or the Investment Industry Regulatory Organization of Canada  (IIROC). If you are buying an insurance-type investment, you can check with the Consumer Assistance Centre at 1-800-268-8099.

 

To learn more about investment dealer and adviser registration, read Know Who You’re Dealing With.

 

To learn more about securities regulation in Ontario, visit the Ontario Securities Commission website.