1. You’re not sure how to manage your finances or investments
If you’re not sure how to choose investments that can help you reach your financial goals, you might want to work with an advisor. If you need help balancing spending and saving, or managing debt, an advisor with financial planning expertise can help you get on the right track. Some advisors may also be able to help you make decisions about insurance coverage, tax planning and estate planning.
2. You don’t have time to manage your investments
If you don’t have time to actively monitor and manage your investments, you might choose to have an investmentInvestment An item of value you buy to get income or to grow in value.+ read full definition adviser do this for you.
3. You’re not interested in managing your investments
Some investors choose to work with an investment adviser because they simply don’t have any interest in managing their own investments.
Anyone selling investments or offering investment advice must be registered by a securities regulatorSecurities regulator A government agency that enforces the securities act in jurisdiction it has authority over. This act is made up of laws that establish rules for issuing and trading securities. The Ontario Securities Commission is the securities regulator for Ontario.+ read full definition, unless they have an exemption. Check registrationRegistration A requirement for any person or company trading investments or providing advice in Canada. Securities industry professionals are required to register with the securities regulator in each province or territory where they do business.+ read full definition and background through the Canadian Securities Administrators.
5 key points
Advisors can help with:
- Financial planning
- TaxTax A fee the government charges on income, property, and sales. The money goes to finance government programs and other costs.+ read full definition planning
- Estate planningEstate planning The plans you make to build and manage wealth for your lifetime and thereafter. Goals may include leaving the most money possible to your loved ones, with the least amount of taxes. Other goals may include caring for children, paying off debt or passing on a business.+ read full definition