A financial advisor can play an important role at any stage of your investment journey. Here is a list of some of the supports an advisor can provide:
- A wide variety of financial solutions for your investment portfolio based on your unique goals and risk tolerance.
- Detailed, step-by-step financial planning that’s tailored to your individual goals and situation, and can evolve with you as you move through different life stages.
- Education and context to help you understand and gain confidence in your financial plan.
- Guidance and support to instill good savings and investing habits and help you avoid common investing pitfalls.
- Other services beyond managing your investments, such as estate and tax planning.
Three quarters of Canadian investors say their advisor provides value for their money. Although almost 60% of Canadian investors aren’t concerned about hidden fees, millennials and very high-net-worth investors are more likely to want more transparency in this area.
Source: EY Global Wealth Research Report 2021: Canadian insights
Investment returns are important, but saving on a regular basis is equally important when it comes to reaching your financial goals. Many investors credit their advisor with helping them build better savings and investment habits. Read more now on how to keep your life – and savings – in balance.
Advised clients are more successful at saving
Increase in savings the average household saw that worked with a financial advisor for 15 years or more – compared to a similar household without a financial advisor.
Source: Claude Montmarquette & Alexandre Prud'homme, 2020. "More on the Value of Financial Advisors," CIRANO Project Reports 2020rp-04, CIRANO.
Your advisor is your financial partner. They will answer your questions and help you understand how investing can help you achieve your goals. Their professional advice can play a vital role in giving you confidence in your plan and a positive sense of well-being with respect to your finances.
Working with an advisor encourages savings and investing
Number of investors using a financial advisor who report a positive sense of well-being.
Source: BlackRock Global Investor Pulse, 2019