Choosing financial advice starts with your needs. Retirement, a business transition and supporting family can raise different questions. Before engaging an adviser, understand how their services fit those decisions.
Understand the service and investment choices
Ask what planning and investment services are available, which products the firm can offer and whether its product selection has limits. Compare the scope with what you need rather than relying on the firm’s label alone.
If you are considering alternatives or less liquid investments, ask about eligibility, risks, fees and access to your money. A broader selection does not make every investment appropriate for every client.
Ask about compensation and conflicts
Understand how the adviser and firm are paid, the total costs you may incur and how relevant conflicts of interest are addressed. Ask for explanations you can understand and review the applicable disclosures before deciding.
Make the working relationship clear
Discuss who will provide advice, which qualifications are relevant to your needs and how your plan and portfolio will be reviewed. Clarify how the adviser will coordinate with your accountant or lawyer when specialist input is needed.
Start with your priorities
Bilyk Financial works with clients on financial planning and investment needs. An introductory conversation can help you discuss your objectives and ask about our services, costs and approach. Learn more about our financial advisory services in Edmonton.
Further reading: Financial Consumer Agency of Canada, Choosing a financial advisor.