6: Your Role When Working with an Advisor

It’s important to note that you, as the client, also have responsibilities when it comes to your working relationship with your investment advisor.

Be open and honest with your advisor. To make recommendations that are appropriate for you, your advisor needs to know about your financial situation, knowledge, and experience. They need you to be clear about your objectives and risk tolerance. You’re also responsible for telling your advisor about big changes in your life so they can make necessary adjustments to your investments or financial plan.

Read the reports you get from your investment service provider so you’re aware of what’s happening with your investments. If you have questions about your investments or their performance, ask your advisor.

There are some things you shouldn’t expect when working with an investment advisor. For example, your registered investment advisor can’t guarantee market performance, achieve unrealistic expectations of profit, or always recommend profitable products.

As a client, you should play an active role in understanding your investments. It’s good to be aware of what’s happening in financial markets so you can understand how your investments might be affected.

A good advisor will want you to be informed and will welcome your input.

After all, how would you feel if your client didn’t communicate with you?

Hi.

Find out more about working with an advisor from the BC Securities Commission.