Report finds that kick-backs drive mutual fund sales

Report finds that kick-backs drive mutual fund sales

The Canadian Securities Administrators (click here to read) published a report with a clear conclusion: mutual fund sales are heavily influenced by the size of the commissions offered to mutual fund salespeople, or what we like to refer to as "legal kick-backs." This means there's a good chance that investors working with mutual fund salespeople are getting investment guidance that is most likely not in their best interest. 

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Don't worry about getting it right, just starting down the right path is a success!

Don't worry about getting it right, just starting down the right path is a success!

Speaking with a wealth advisor is difficult for many people. We get it. You're being asked to share detailed information about your assets, debts, income and expenses with someone you just met. On top of that, many people find it difficult to gather all that information in the first place. While some people might be more organized than others ⎯ having a filing cabinet where they keep every tax return, utility bill, mortgage statement and life insurance policy neatly labelled in matching folders ⎯ I'm willing to bet most people don't....

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Expect more from your financial advisor. In fact, you should demand a wealth advisor!

Expect more from your financial advisor. In fact, you should demand a wealth advisor!

In response to complaints from investors about their experiences with financial advisors, the Ontario Securities Commission (OSC) undertook a “Mystery Shopper” study between July and November 2014. The Ontario Securities Commission is the regulatory body who's job it is to “work to protect investors and foster fair and efficient markets by making and monitoring compliance with rules governing the securities industry in Ontario.” In their words, a mystery shopper study is… 

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