Financial planners help you save for the future, invest money wisely and overcome obstacles that could keep you from achieving financial success. They can also help you find ways to reduce your tax bill and prepare for retirement. The Financial Consumer Agency of Canada notes that anyone in Canada can call themselves a financial advisor or planner, so it’s important to do your research before choosing a professional. Learn more ex-ponent.com

To get started with a financial advisor montreal, you should first determine your short- and long-term goals. You can do this by creating a spreadsheet or using software that will ask you basic questions about your assets and income. Once you have this information ready, you can contact your potential advisor for a consultation. At this time, you should ask your potential advisor to clarify their fiduciary status and compensation structure.

You should also find out if your advisor is licensed to sell certain products or services. For example, if they are an insurance agent, they may be required to meet sales quotas. In this case, your advisor may be biased toward recommending an investment or insurance product that is not in your best interest.

Toronto Financial Advisors: Expert Financial Guidance

Ideally, your Montreal financial planner should be a fiduciary who will act in your best interest at all times. If they are not a fiduciary, you should consider finding another financial advisor who is. Moreover, you should always find out what they charge for their services. This will ensure that you’re not paying extra fees to your financial planner.