Posts Tagged "financial advisor"

How To Do A Background Check On Your Advisor

Posted by Preet on May 26, 2010 | 5 comments

The victims of Bernie Madoff and Earl Jones didn’t see what hit them until after the fact. These poor swindled investors all thought these were stand-up guys. Don’t make that same mistake – con men are smooth operators. Take a few minutes and do your own digging – here’s how: How To Do A Background Check On Your Advisor There are many different regulatory bodies in Canada and a securities regulator for each province and territory. It’s confusing so here’s a step by step guide of what to do… Check To See If They Are Even Registered 1. Canadian Securities Administrators > National Registrant Search – this is a quick...

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The Financial Advisor Retirement Plan

Posted by Preet on Sep 8, 2009 | 3 comments

It is possible for an advisor to generate a $1 million bonus to themselves for relatively little work, and it probably happens more than it should. A not too uncommon retirement plan for some financial advisors (I don’t want to lump all financial advisors together, but clearly there are those out there that are less than scrupulous), is to switch firms a few years before retiring. Why? Because they get paid a bonus to transfer their client assets and they can then sell their clients to another advisor at the new firm a few years later. Advisor Compensation I’m going to use a hypothetical example, although I do know that a situation pretty much exactly like...

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