Investment companies in Vernon
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- Newbie
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Re: Investment companies in Vernon
What about Investors Group?
- April lady
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Re: Investment companies in Vernon
If you want to buy an RRSP go to the bank, if you want financial planning for today and in the future, then do some research. Ask your parents, ask grandparents and neighbors who they invest with or do full financial planning. When you hear the same name more than 5 times, that would be the one put a the top of your list, work down until you have 3 names. Then go see them, referrals is the best way to find a financial planner, why would any one recommend someone that they aren't happy with?
Find out the following,: do they charge for an appt - the answer should be NO!!!!
: use your first instincts - rude, not paying attention, takes calls during appts
: look at the various regulating websites
Does this person want to work with you or do they just want the commission?
A Financial Planner only gets paid on new money!
Be wise, listen, ask, understand, this is your responsibility too!
Find out the following,: do they charge for an appt - the answer should be NO!!!!
: use your first instincts - rude, not paying attention, takes calls during appts
: look at the various regulating websites
Does this person want to work with you or do they just want the commission?
A Financial Planner only gets paid on new money!
Be wise, listen, ask, understand, this is your responsibility too!
- Homeownertoo
- Lord of the Board
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Re: Investment companies in Vernon
April lady wrote: A Financial Planner only gets paid on new money!
Financial planners can be paid via commissions ("new money") or strictly on a fee basis. It's up to you which you prefer.
“Certain things cannot be said, certain ideas cannot be expressed, certain policies cannot be proposed.” -- Leftist icon Herbert Marcuse
“Don’t let anybody tell you it’s corporations and businesses create jobs.” -- Hillary Clinton, 25/10/2014
“Don’t let anybody tell you it’s corporations and businesses create jobs.” -- Hillary Clinton, 25/10/2014
- April lady
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Re: Investment companies in Vernon
Sorry,you are correct I didn't state that, because I am not sure how the fee basis works for the planner or the client.
- Homeownertoo
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Re: Investment companies in Vernon
Fee-only planners charge a fee to draw up a plan or component(s) of a plan, and to implement it if the client so desires. Some planners have hybrid fee schedules that combine both systems of compensation. Fee-only ones often don't handle investment portfolios or insurance products.
Many people believe fee-only planners are more likely to give unbiased advice because they don't stand to gain from product sales. The evidence on this is not entirely clear. You are probably best off with an ethical, informed planner who takes the time to understand your needs well, regardless of how he or she is compensated.
Many people believe fee-only planners are more likely to give unbiased advice because they don't stand to gain from product sales. The evidence on this is not entirely clear. You are probably best off with an ethical, informed planner who takes the time to understand your needs well, regardless of how he or she is compensated.
“Certain things cannot be said, certain ideas cannot be expressed, certain policies cannot be proposed.” -- Leftist icon Herbert Marcuse
“Don’t let anybody tell you it’s corporations and businesses create jobs.” -- Hillary Clinton, 25/10/2014
“Don’t let anybody tell you it’s corporations and businesses create jobs.” -- Hillary Clinton, 25/10/2014
- KiKi Ohara
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Re: Investment companies in Vernon
April lady wrote: Ask your parents, ask grandparents and neighbors who they invest with or do full financial planning.....referrals is the best way to find a financial planner, why would any one recommend someone that they aren't happy with?
Find out the following,: do they charge for an appt - the answer should be NO!!!!
: use your first instincts - rude, not paying attention, takes calls during appts
: look at the various regulating websites
That was some exellent advice April Lady. I agree that utilizing a referral is the best way to find a financial planner. My entire family (myself, my parents and my kids) work with Richard VanderBoom and his team at Investors Group here in town. I always send people to Richard if they are in need of a planner because being in finance myself I appreciate the importance of finding someone reputable and honest. Furthermore, working with his team means that you essentially have 3 consultants/planners working with you and for you. Each one of them has a valuable specialty and personality. He has a Partner, an associate and an assistant. He meets with me a minimum of three times a year to make sure my plan is still on the right track as life can change so suddenly. I can honestly say that his team cares. They send all of us a card on our birthday and our anniversary. He has client appreciation events that are a lot of fun. He's great for the whole community, always giving of his time and finances to worthy causes. He even sponsored my nefews baseball team! And he does NOT charge for his time. We don't pay him, Investors Group pays him. Having said all of that, that would be my recommendation!
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- Board Meister
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Re: Investment companies in Vernon
Trust me SOMEONE is paying for all the freebees.
- April lady
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Re: Investment companies in Vernon
intheknow wrote:Trust me SOMEONE is paying for all the freebees.
Not sure what you mean by this remark, someone asked a question about buying rrsp's people are responding with their views, this is what this forum is about, isn't it?
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- Board Meister
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Re: Investment companies in Vernon
April lady wrote:intheknow wrote:Trust me SOMEONE is paying for all the freebees.
Not sure what you mean by this remark, someone asked a question about buying rrsp's people are responding with their views, this is what this forum is about, isn't it?
Iam not sure what you mean by your remark? someone was saying IG gives away stuff for free and my opinion is its never free as somewhere somehow the investor pays for it?
- KiKi Ohara
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Re: Investment companies in Vernon
In my situation my consultant pays for those nice "extras" not me. I am wise with my money and familiar with where it goes. It is as an appreciation for my business! Having said that i can't say I know how other consulants and institutions operate. Have a great day!
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Re: Investment companies in Vernon
Hi, in my opinion must check the financial planner's qualifications, background and experience before hiring their services that would be a better approach. Apart from that we should also ask for references and about what services he offers to clients.
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- Board Meister
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Re: Investment companies in Vernon
I see a person here advocating Investors group and all the free stuff they get.Trust me non of the stuff is free,
IG has the highest MIR costs(management costs) and one of the poorest avereage returns out there these days
IG has the highest MIR costs(management costs) and one of the poorest avereage returns out there these days
- Captain Awesome
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Re: Investment companies in Vernon
toughnut wrote:I see a person here advocating Investors group and all the free stuff they get.Trust me non of the stuff is free,
IG has the highest MIR costs(management costs) and one of the poorest avereage returns out there these days
Exactly. Had a portfolio with them, got out and will never ever get back in.
Any other mutual fund sales guys for that matter.
Sarcasm is like a good game of chess. Most people don't know how to play chess.
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- Board Meister
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Re: Investment companies in Vernon
Captain Awesome wrote:toughnut wrote:I see a person here advocating Investors group and all the free stuff they get.Trust me non of the stuff is free,
IG has the highest MIR costs(management costs) and one of the poorest avereage returns out there these days
Exactly. Had a portfolio with them, got out and will never ever get back in.
Any other mutual fund sales guys for that matter.
BUT the point is if your young an dumb as the saying goes You need to start somewhere.So seek out a Financial advisor and get going.Its easy to switch as the time goes by and you learn how things work.We all started this way i suspect.
- Captain Awesome
- Buddha of the Board
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Re: Investment companies in Vernon
toughnut wrote:BUT the point is if your young an dumb as the saying goes You need to start somewhere.So seek out a Financial advisor and get going.Its easy to switch as the time goes by and you learn how things work.We all started this way i suspect.
Agree completely, and I admire people who actually think about planning for future at such young age.
It's just with time you understand that there are financial planners, people who help you to plan for future, and mutual fund salespeople - who just want to sell you mutual fund (that's when things like MER, trailer fees, and others come in).
IG are salespeople. That's all I'm trying to say.
Sarcasm is like a good game of chess. Most people don't know how to play chess.