The Top Eight Misconceptions about having a Financial Advisor

1. I don’t have enough money to make it worth using an Advisor

This is an understandable misconception, however, Advisors such as myself prepare the written plan at no to you. You will then have a road map that you can use to guide you through your life decisions. Even a contribution of $50 per month to an RRSP should be done with the correct investments and should match your long or short -term goals. So don’t worry, call an Advisor and get that road map started so you can ensure that you are making the best decisions for your own future.

2. I don’t have any money to spare
It is amazing how preparing a financial plan can actually uncover ways to allocate your current expenses in a better manner for you without you having to come up with any additional money.

3. I’m in my 30’s/40’s so don’t need to think about retirement yet
Since retirement is such an important aspect of everyone’s future, planning for it can never start too soon. Money has a way of growing when left untouched so the sooner you start investing the less in total you will have had to put away, leaving money to spend now also. Investing in vehicles such as RRSP’s will reduce the taxes you pay. Also Planning is not just about preparing for retirement, it includes saving for the children, estate planning, saving for a cottage and all the other things you want to do while you are working.

4. I know how to invest myself

This is probably true of many people, however, as with anything if you give this to a professional to manage, they can do a more comprehensive job. The right professional will take the time to know you and make the best decisions for you. This doesn’t mean you have to give up your involvement but means you can take a look at the whole picture and leave the details to someone else.

5. I don’t trust other people with my money

As with anything you do in your life, you need to establish a basis of trust with your Financial Advisor before you start investing. This business is built on long term relationships and Advisors such as myself are in it for the long run with you. Once you have trust in your Advisor, you will find their ability to manage the details while keeping the bigger picture in view will pay off for you.

6. I don’t have enough time to meet with an Advisor

A little time invested with an advisor can free you up from having to worry about your investment decisions and also reduce the stress level tbat this type of decision can cause. You may even find you have time freed up because you don’t have to spend as much time on your own finances.

7. I know more than my Advisor does about my finances

You of course know more about your own finances, however, an Advisor knows about to options available to you for putting these finances to the best use possible. Bringing an Advisor onto your personal team will expand your knowledge and give you more opportunities than you can create through a bank or on your own.

8. I have always dealt with the bank

A bank will always help you make an investment. What a planner will do, however, is help you make the right investment and then meet with you, at a minimum, annually to review how your goals have changed and how the plan has progressed. You are more then an investor, you are a valued client with individual needs and you will receive individual attention.

I hope this has answered some of your concerns. I am always available to discuss your concerns and questions so feel free to call me at (905)-430-4651.