Recommend a Financial Planner

Business and professional recommendations.
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Bsuds
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Re: Recommend a Financial Planner

Post by Bsuds »

LANDM wrote:One of the posters in the Castanet forums is a financial advisor, according to him/her/zher.
Check out Ogopogo.....he claims he is very good so just go over some of his posts to see if his demeanour matches what you want and then PM him.

This is not a recommendation as I don’t know him.....just someone local, on the board....but definitely read posts first to make sure things sync up to your thoughts.
Bpeep wrote:I read Ogopogo's posts and I make money EVERY SINGLE DAY.


Selling your body doesn't count! :biggrin:
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TJSmith
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Re: Recommend a Financial Planner

Post by TJSmith »

Thanks again for the ideas everyone. Lots of PMs with some great suggestions. Much appreciated!
TJSmith
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Re: Recommend a Financial Planner

Post by TJSmith »

Bumping this for more suggestions
dreamon
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Re: Recommend a Financial Planner

Post by dreamon »

Most good financial planners will not be interested unless you have $500k+ in investable assets, or close to that with a strong income.

Many others work for companies that might have life, or group or other such things in their names. These are mutual fund salespeople.

What is that your nephew is specifically looking for? Financial planning is broad and means different things to different people.
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NotNorthAnymore
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Re: Recommend a Financial Planner

Post by NotNorthAnymore »

My experience with financial planners that are not a Canadian bank has been the worst.
Used a guy in Prince George when we lived up north and I should have known there was a problem with him from the outset.
1st big mistake was I gave him RRSP money - and 4 months later realized that he had not invested it.
What he invested in lost money so in the end I was out $4500.
There were other investments he got us into that were not scheduled to mature until after I was 70.
Along with some company in Vancouver that folded and someone bought the assets and customer list and turned it into a fly by night weed company.

When we moved to the Okanagan on the advice of my brother who is a retired accountant we signed up with TD in Vernon.
Not sure if we just hit it lucky but have a highly competent and friendly FP.
She was head hunted by RBC Dominion and moved there.
We went with her as did the vast majority of the clients she had at TD.
She now has access to a larger fund of investments all backed by RBC.
One of out best moves with our money ever.

And when have you heard of a Canadian bank going under?
Hole in the wall brokers and investment companies on the other hand?
Often.

Just IMO
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dreamon
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Re: Recommend a Financial Planner

Post by dreamon »

NotNorthAnymore wrote:My experience with financial planners that are not a Canadian bank has been the worst.
Used a guy in Prince George when we lived up north and I should have known there was a problem with him from the outset.
1st big mistake was I gave him RRSP money - and 4 months later realized that he had not invested it.
What he invested in lost money so in the end I was out $4500.
There were other investments he got us into that were not scheduled to mature until after I was 70.
Along with some company in Vancouver that folded and someone bought the assets and customer list and turned it into a fly by night weed company.

When we moved to the Okanagan on the advice of my brother who is a retired accountant we signed up with TD in Vernon.
Not sure if we just hit it lucky but have a highly competent and friendly FP.
She was head hunted by RBC Dominion and moved there.
We went with her as did the vast majority of the clients she had at TD.
She now has access to a larger fund of investments all backed by RBC.
One of out best moves with our money ever.

And when have you heard of a Canadian bank going under?
Hole in the wall brokers and investment companies on the other hand?
Often.

Just IMO


Interesting. Do you mind sharing who the FP is in case others would like to contact her?
TJSmith
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Re: Recommend a Financial Planner

Post by TJSmith »

Thanks again everyone. Lots of good suggestions, only one suggestion has been of concern as it turned out the FP had recently been disciplined for “Fraud and/or Forgery and/or Falsification”
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bb49
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Re: Recommend a Financial Planner

Post by bb49 »

NotNorthAnymore wrote:My experience with financial planners that are not a Canadian bank has been the worst.
Used a guy in Prince George when we lived up north and I should have known there was a problem with him from the outset.
1st big mistake was I gave him RRSP money - and 4 months later realized that he had not invested it.
What he invested in lost money so in the end I was out $4500.
There were other investments he got us into that were not scheduled to mature until after I was 70.
Along with some company in Vancouver that folded and someone bought the assets and customer list and turned it into a fly by night weed company.
Just IMO


Hmm, I wonder if this is the same guy that took us and a hundred others for a ride.
We checked out quite thoroughly a particular individual in PG and everything came up smelling of roses. So we gave him a big chunk of money. First two or three years our returns were excellent, then got notification from a friend up there that those roses were starting to stink.
End result, well, it's still going on, he took a hundred or so people for a few million. There is a court case going on, costing him plenty, as well as us and it could drag on forever.
What really peeves me is many of the investors are not helping out with the court costs on our end, but if any money is recovered they'll get their share.
Anyways, it's put a damper on our lifestyle.

Bottom line, if I had the chance to do it again, I would stick with banks. I know there are plenty of good and trustworthy FPs out there, but it only takes one.
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vegas1500
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Re: Recommend a Financial Planner

Post by vegas1500 »

Know a fantastic one....but depending on your investments he may or may not take you one, you need a certain amount in your portfolio.
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NotNorthAnymore
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Re: Recommend a Financial Planner

Post by NotNorthAnymore »

dreamon wrote:Interesting. Do you mind sharing who the FP is in case others would like to contact her?


Only by Private message as I am unsure of the rules around recommendations.
RBC Dominion has a full set of rules on location and customers from what I understand.

NNA
"THEY" are watching you! -- "THEY" know who you are! -- "THEY" know where you are!
Always use heavy duty BBQ tinfoil under your Black Hat - That way "THEY" can't read your 'mind'.
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crookedmember
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Re: Recommend a Financial Planner

Post by crookedmember »

The problem with financial planners and brokers is most of them are charlatans. It's easier to become a financial planner than a real estate salesperson, and that's a pretty low bar.

When the markets are doing well, you're making money (on paper) and they're taking fees in real money out of your account. But everything still looks swell. Because you're up!

Then when the markets suffer a tumble or correction, you find out you're back to almost where you started, minus all of those fees they took from you when times were good.

And even though times are now bad, they still keep taking those fees with a smile. Your nest egg is starting to look like a *bleep*.

Open TFSA and Cash accounts at a discount broker. Do a little research. It doesn't take much to learn which stocks are solid and do well over the long term. The banks, Fortis, Bell, Brookfield, Apple, Google, Microsoft, EFTs and dozens more.

When you visit a financial planner, remember that someone has to pay for that fancy office and their fancy incomes, houses and cars. You. It's why your nest egg ends up looking like a *bleep*.
Conservatives are dumb-dumbs.
TJSmith
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Re: Recommend a Financial Planner

Post by TJSmith »

Bumping this for more recommendations.

Any FPs on these boards?
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Bsuds
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Re: Recommend a Financial Planner

Post by Bsuds »

crookedmember wrote: It's easier to become a financial planner than a real estate salesperson, and that's a pretty low bar.

.


I think becoming a Certified Financial Planner is a bit harder than becoming a Real Estate Agent.
It certainly requires a bit more intelligence.


https://www.fpcanada.ca/certifications/ ... tification

http://real-estate-careers.ca/becoming-licensed/
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Gilchy
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Re: Recommend a Financial Planner

Post by Gilchy »

crookedmember wrote:The problem with financial planners and brokers is most of them are charlatans. It's easier to become a financial planner than a real estate salesperson, and that's a pretty low bar.

When the markets are doing well, you're making money (on paper) and they're taking fees in real money out of your account. But everything still looks swell. Because you're up!

Then when the markets suffer a tumble or correction, you find out you're back to almost where you started, minus all of those fees they took from you when times were good.

And even though times are now bad, they still keep taking those fees with a smile. Your nest egg is starting to look like a *bleep*.

Open TFSA and Cash accounts at a discount broker. Do a little research. It doesn't take much to learn which stocks are solid and do well over the long term. The banks, Fortis, Bell, Brookfield, Apple, Google, Microsoft, EFTs and dozens more.

When you visit a financial planner, remember that someone has to pay for that fancy office and their fancy incomes, houses and cars. You. It's why your nest egg ends up looking like a *bleep*.


This argument always cracks me up.

Most services (lawyer to prepare will, mechanic to replace head gasket, plumber to install sink, etc, etc) could technically be done by yourself, saving the fees of hiring someone, but you're also not getting the tools, experience, expertise and education of the professional in whatever field is under discussion. A good planner looks at far more than just investment selection, the same as a good accountant will look at more than just the basic line items on a tax return.

It's up to you to determine if that is worth it to you.
TJSmith
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Re: Recommend a Financial Planner

Post by TJSmith »

Need a good recommendation now more than ever

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