Comments on: Fee-Based Advisors May Not Always Be More Ethical By Default

By: Fee Arrangements – Fee-Based Advice | GetSmarterAboutMoney.ca

Fee Arrangements – Fee-Based Advice | GetSmarterAboutMoney.ca — Wed, 01 Feb 2012 20:42:37 +0000

[...] One must also understand that simply because an adviser operates under a fee-based model versus a traditional commission-based model does not mean they are better. I wrote about a specific scenario in which this was very apparent a few years ago. [...]

By: LinkStuff May 15 – NHL and Car Companies

LinkStuff May 15 – NHL and Car Companies — Thu, 28 Jan 2010 03:38:59 +0000

[...] Preet had a very interesting article pointing out that fee-based advisors are not necessarily more ethical. [...]

By: LinkStuff May 15 – NHL and Car Companies

LinkStuff May 15 – NHL and Car Companies — Thu, 28 Jan 2010 03:38:59 +0000

[...] Preet had a very interesting article pointing out that fee-based advisors are not necessarily more ethical. [...]

By: Canadian Personal Finance Blog » Blog Archive » Random Thoughts: For all you Mothers

Fri, 08 May 2009 06:06:13 +0000

[...] Preet at Where does All My Money Go makes the statement that Fee Based Advisors May Not be More Ethical by Default. [...]

By: This and That: Market melt-up edition | Income Trust | Personal Finance | Real Estate SEO

Fri, 08 May 2009 04:43:56 +0000

[...] Preet notes that a “fee-based advisor” doesn’t necessarily mean a better advisor. [...]

By: This and That: Market melt-up edition | Canadian Capitalist

This and That: Market melt-up edition | Canadian Capitalist — Fri, 08 May 2009 03:49:01 +0000

[...] Preet notes that a “fee-based advisor” doesn’t necessarily mean a better advisor. [...]

By: Preet

Preet — Wed, 06 May 2009 17:54:07 +0000

@ Mark Wolfinger – no argument there!

@ Jordan – ratemyadivsor.ca and ratemyfinancialadvisor.ca were already registered, but that would be a great idea. Conflicts too much with my day job right now for me to personally do it, but boy it sounds like a fun idea! :)

By: Jordan

Jordan — Wed, 06 May 2009 11:16:55 +0000

Preet, I think as an advisor advocate you should buy the domain RateMyAdvisor.ca and set it up like RateMyTeachers.com. Scores 1-10 for various attributes of their skill, ability, personality, honesty, fees, and anonymous reviews.

Since there appears to be few ways for the average investor to know if an advisor is any good or has any chance of adding value this could serve as an unbiased source of confidence.

Sure it might be gamed or abused a bit, but think of Amazon reviews, for the most part they are an excellent tool to pick between similar products.

RateMyMutualFund.ca can come next!

By: Mark Wolfinger

Mark Wolfinger — Wed, 06 May 2009 04:04:24 +0000

Good points.

But appearances count for something. And when an advisor collects commissions, it’s possible that the client’s needs come second.