Last week we blogged about the video Informed Investing: Investment Fees, that we launched on October 9 to supplement the Guide to Investing: How to be an Empowered Investor.
This week we are featuring the video Informed Investing: Using Registered Financial Advisor that discusses how to practice due diligence in researching a financial advisor or firm.
Prior to working with a financial advisor, you should investigate the individual’s qualifications and registration status.
The Canadian Securities Administrators (CSA) provides a National Registration Search database online where you can search an individual or firms registration status and find out what investment products they are qualified to sell.
You will find a wide, and potentially confusing, array of practitioners working in the financial service industry. Visit InvestRight’s Understand Titles and Designations page to get a breakdown on the different types of job titles and designations held by people, and what they mean.
If you have questions or concerns regarding an advisor or firm’s registration, please contact BCSC inquiries at 604-899-6854, toll free at 1-800-373-6393, or by email at [email protected].
A national study of almost 2,500 older Canadians (50+), released for Fraud Awareness Month, found that almost 1-in-5 are vulnerable to a highly risky investment offer. More than 2-in-5 don’t understand the fundamental relationship between risk and return and only 1-in-4 have a realistic expectation of the current rates of return for their investments. The […]
Investor Alert: Securities regulators warn of investments that encourage you to unlock your retirement savings
March 23, 2010 The British Columbia Securities Commission and the Manitoba Securities Commission want people to be aware of questionable investments that advise people to withdraw funds from their registered retirement savings plans and reinvest in unrelated securities. Recognize “unlocking” investment schemes Generally, these schemes involve investing in the shares or units of a public […]