Edmonton Retirement Planner

Choosing a Planner

CHOOSING A GOOD INVESTMENT FUND REPRESENTATIVE is one of the most important investment decisions you will ever make!

FACT: Many people spend more time planning for a vacation or buying a sofa than they do planning for their financial future. When they finally decide it's time to put their financial house in order, they don't know where to start.

FACT: You shouldn't hesitate seeking professional financial advice any more than you would avoid seeing a doctor when you're sick. A professional investment fund representative can help you set up a financial plan. He or she can help you determine which investments are best suited to help you achieve your financial goals, establish a savings program to build your assets, and explain the potential risks and rewards of different investments.

FACT: Research conducted by Dalbar Financial Services found that during a 12 year period ending December 1996, U.S. investors with a financial adviser held their funds longer and earned five per cent more in total cumulative return on their equity investments than those who purchased their funds directly.
"The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of asset allocation service or returns on investment from the use of the asset allocation service."

FACT: Finding a investment fund representative is no different than finding a doctor. People are usually willing to give a good reference. Ask your friends and relatives for recommendations. Ask about the representative's experience, track record, services, investment approach and fees. And don't be afraid to request credentials and letters of recommendation. Remember, it's your money and your future. If the person you're considering makes you feel like you're wasting his or her time, chances are, you'll be wasting your money

FACT: You should interview any investment fund representative you're interested in to be sure he or she fits your style and risk tolerance. The candidate must understand your investment needs. He or she must be someone you trust, and can tailor a portfolio to meet your personal requirements. A conscientious planner will use the initial meeting to discuss your financial situation, objectives and risk tolerance level.

Start by getting some professional help. Probably the most important contribution an independent investment fund representative can make is to help you stick to your plan.

Consider asking your prospective investment fund representative the following questions:

What are your qualifications?

Do you understand my attitude towards risk?

May I see a sample of a completed financial plan?

What services will you provide and how often?

What fees or commissions do you charge?

Can you provide references?

If you've decided to invest in mutual funds, be sure to ask these additional questions

How much will it cost to buy into the fund after commissions and fees?

Will I receive an annual review of the fund and the fund managers strategy?

How often will I receive detailed information about the fund?

Will my investments be compared periodically with competing funds?

Will you check with me on a regular basis to find out if my investment needs have changed?

If you're ready to get your finances in order, start by investing in professional financial help. Ultimately, choosing an investment fund representative is one of the most important investments you'll make.

(This article was originally published in the Greater Edmonton Home Builder's Association magazine)

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Commission, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the prospectus of the mutual funds in which investments may be made under the asset allocation service before investing. The indicated rates of return are the historical annual compounded total return assuming the investment strategy recommended by the asset allocation service is used and after deduction of the fees and charges in respect of the service. The returns are based on the historical annual compounded total returns of the participating funds including changes in the share or unit value and reinvestment of all dividends or distributions and does not take into account sales redemptions, distribution or optional income taxes payable by any security holder in respect ;of a participating fund that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed have not been approved by and are not those of Dundee Wealth Management, its subsidiaries, or its affiliates, including, but not limited to Dundee Securities Corporation, Dundee Private Investors Inc., Dundee Private Investors Ltd., Dundee Insurance Agency Ltd., and Dundee Mortgage Services Inc. This website is not deemed to be used as a solicitation in a jurisdiction where this Dundee representative is not registered.

The information in this communication is subject to change without notice. Dundee Private Investors Inc. or Patrick Gibson will NOT be held liable for any inaccuracies in the information not maintained by Dundee Private Investors Inc. or Patrick Gibson, such as a linked site. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Alberta should consult with their mutual fund representative to determine if these securities may lawfully be sold in their jurisdiction.