Financial Advisors | WhereDoesAllMyMoneyGo.com

Name That Visionary… and win a 32GB iPhone 3GS

Posted by Preet on Apr 14, 2010 | 4 comments

Advisor.ca is a website geared towards financial advisors that is celebrating its 10th anniversary this year. One contest it is holding promises the winner a 32GB iPhone 3GS (service plan not included). Name That Visionary To enter, all you have to do is submit up to 10 nominations on an online form indicating your choice(s) for people who are going to change the advisor universe over the next 10 years. This will take place in two phases. First they will gather the nominations to determine the top 10 names, then readers will vote again to determine the ranking of the top 10. Who is the industry’s top visionary? It’s up to you to help figure that out. Each...

Options Licensed Advisors Are Rare

Posted by Preet on Apr 5, 2010 | 8 comments

How many financial advisors are in Canada? To give you a rough idea as to the number of financial advisors in Canada as a whole, there are about 75,000 MFDA advisors (mutual fund sales reps), 125,000 Life-Licensed advisors (insurance agents) and 25,000 IIROC advisors (licensed to sell individual stocks). Those are rough numbers for a few reasons: I’m going by memory (which may be flawed) for the life-licensed advisor number, and there are many advisors who are dual-licensed (MFDA + Life License or IIROC + Life License). Further, not all life-licensed advisors sell investments (for them, this would be segregated funds and annuities for the most part). So let’s...

Mutual Funds: Great for portfolios up to $100,000

Posted by Preet on Jul 28, 2007 | 0 comments

I suppose many financial advisors licensed to sell ONLY mutual funds will cringe at this information. First, I want to say that if you have more than $100,000 in your portfolio it does not automatically mean that it is time to get out of mutual funds. But certainly once you pass this threshold you will want to look at alternatives to mutual funds as your options open up (based primarily on the fact that buying in bulk reduces your trading costs). If you remember in my first post on Mutual Funds we defined mutual funds as being the ideal investment for SMALL investors because trying to build your own diversified portfolio would cost too much in trading commissions. So...

What are you going to learn from this site?

Posted by Preet on Jul 24, 2007 | 0 comments

If you’ve read the “How to use this site” section you will have noticed that there are going to be various levels of information presented here with respect to knowledge levels. But since that in itself is quite vague, I though I would write a post describing some of the things I will be talking about (In addition to what you guys ask about!). In addition to defining some of the terms I think everyone should know, I’d like to explore how many different types of financial advisors there are out there and specifically how each operate and are paid. There is a HUGE spectrum. And the right fit for one person might not be the right fit for...