Yearly Archives: 2015

Even though the “Great Recession” of 2008-09 officially ended in mid-2009, investor memories of that chapter of economic history remain surprisingly fresh. The deep recession, coupled with a historic decline in financial markets, continues to draw comparisons to the Great Depression era of the 1930s. Since the end of the downturn in 2009, global economic activity has moved in fits and starts.

Like any other professional service, financial advice has a cost.  This is not debatable.  Contrary to what people may think, good financial advice is not free.  Before asking yourself, “how much are my fees?”, a more appropriate question is, “how is my financial advisor compensated?”

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Most Canadians are familiar with the term GIC – Guaranteed Investment Certificate.  For those that are not, a GIC is a type of fixed-income investment provided by financial institutions.  Typically offered in specific terms (1 – 5 years), a GIC guarantees interest payable and the return of principle at the end of the term.

Clients want to hire advisors who can provide value. In most cases, the value that clients seek is in the form of out-performing the markets. Once the advisor underperforms, they are often deemed useless and fired. Since nobody has a crystal ball, advisors must differentiate themselves by providing unique services to their clients. What other roles can an advisor play? Read the attached article to see how versatile the advisor role can be.

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