Investing

How to find a certified financial advisere

  • Last Updated:
  • Jan 15th, 2019 11:51 pm
[OP]
Member
May 12, 2009
245 posts
40 upvotes
Toronto

How to find a certified financial advisere

I am looking for one and not quite sure how to go about it. I had one quite some time ago. He retired. I need to consult one and decide how to invest some money.
6 replies
Deal Addict
User avatar
Mar 16, 2010
3056 posts
1544 upvotes
Burlington
I have my CFA, my advice is to YOLO OTM SPX calls.
Member
Dec 7, 2007
353 posts
322 upvotes
Dpack22 wrote:
Jan 15th, 2019 3:33 pm
I have my CFA, my advice is to YOLO OTM SPX calls.
Its entirely possible that the OP is looking for more than just investment recommendations....
Member
Mar 7, 2008
466 posts
114 upvotes
Leask
I like into this with RBC, CIBC and One of the credit unions.

Most require minimum of $100k.

They can sell you are lot of mutual funds...

The best advise I got from them is, they help me review my overall well-being. I later use his advise and invested in participating life insurance and review my CPP. I do appreciate this aspect very much. But they ain’t taking my money to invest lol, just don’t feel they are confident.

Instead, I plan to start indexing this year in questrade.
Newbie
Jan 29, 2016
15 posts
8 upvotes
Surrey
Look for a fee-based only financial planner. Like lawyers, and accountants you want a Financial Planner that you pay by the hour and loyal only to you not have them cut a slice of your investment profits - it removes a layer of conflict of interest.

Just google Fee-based Certified Financial Planner and you should find something in your area.

As for Indexing vs WallStreetBets, it depends on individual risk tolerance. Just like work, some choose to work as an employee, some start their own business and risk it all. Those risk it all, a small portion of them become mega rich like the CEO of Amazon, Facebook and WhatsApp. Lot more just crash. Same with investing, the steady indexing, mutual funds and diversifying vs the wallStreetBets YOLO method.

As for those who has CFAs, the smartest of them all call themselves "Masters of the Universe" that can more likely than not turn a profit in the market, works in Wall Street for institutions and not with individual clients because that's not where the money is. And they definitely don't YOLO OTM SPX calls. They may buy calls for hedging and it doesn't take much for their massive paycheck.

100 mil Portfolio Manager just need to make 10% return on the money managed. That is return of 10 mil. The firm takes a standard 15% of the profit - ie 1.5mil. Then the 1.5 mil is split between the firm and the portfolio manager 70% (to the firm) -30% (to the portfolio manager). The portfolio manager gets paid $US 450,000 in bonus in addition to the $300,000 base salary and a total of $750,000 income. So you see, billable hours is hard to make it to $750,000 especially we're dealing with the price sensitive individuals.
Penalty Box
Dec 27, 2013
8003 posts
3957 upvotes
Toronto
no CFA is going to talk to you OP.
judging by the writing in your post, you probably have like $5,000 to invest. Walk into any of the major 5 banks, tell them you want investment advice. good luck.
Deal Fanatic
Feb 15, 2006
8427 posts
2760 upvotes
Toronto
serbianbelle wrote:
Jan 15th, 2019 2:29 pm
I am looking for one and not quite sure how to go about it. I had one quite some time ago. He retired. I need to consult one and decide how to invest some money.
How much are you looking to invest, for how long, how much liquidity do you need, and what's your risk tolerance?

If you're looking for free advise, you'll get lots here in RFD finance/investing forum, but be mindful of what free advise can be good for.

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