Finding an advisor through referrals
4 potential sources of referrals
1. Family and friends
People you know can be a helpful source of referrals, especially if their financial needs and goals are similar to yours. Ask who they get advice from, and for what products and services. Local community groups may put on workshops or give free advice about finance and investing. Look for information on your town or city’s website, or check your local newspaper.
2. Your workplace
If your workplace offers pensionPension A steady income you get after you retire. Some pensions pay you a fixed amount for life. Others save up money for you while you are working. You use that money to create income after you retire.+ read full definition and other employee savings plans, it may provide employees with access to a financial adviser. If you’re a member of a union, it may also be able to help you find an advisor.
3. Your bank
Customer service representatives at your bank can help you with setting up a bank account, or buying savings bonds and GICs. If you want to take out a loanLoan An agreement to borrow money for a set period of time. You agree to pay back the full amount, plus interest, by a set date.+ read full definition, they can refer you to a loan specialist at the bank. They can also refer you to a financial advisor if you are interested in mutual funds or other types of investments.
4. Other professionals you work with
If you have a lawyer or accountant, they may be able to suggest potential financial advisors.
Ask for referrals from:
- family and friends
- your workplace
- your bank
- your lawyer or accountant