Do you know what you are paying your financial advisor for? How do financial advisors get paid in Canada? What value are you getting for the fees you are paying your financial advisor?
It’s time to get the answers to all of these questions and more. After all, everything is expensive in the absence of value.
But what happens if you choose a financial advisor who delivers value? Then, you can focus less on how financial advisors get paid and more on receiving innovative strategies to help achieve your ambitious goals!
How Do Financial Advisors Get Paid in Canada?
Historically, what we see in our industry for how financial advisors get paid has been very backward. It’s no wonder people are so curious about where they get their income.
Usually, most financial advisors give away free advice hoping that clients will buy products from them or invest money with them. This model leaves the availability of advice to a very select few with millions of dollars to invest in the stock market.
Now, what if you want the knowledge and guidance of an experienced financial advisor without buying products or investing in them?
Understanding the Role of a Financial Advisor
The important thing you need to do when working with a financial advisor is to get clear on their role.
- Are they there to manage your money?
- Is your advisor there to sell you a product such as insurance?
- Or better, is your advisor there to give you unbiased financial advice so that you will have clarity and confidence about your future?
In Canada, you do not require a certification or designation to call yourself a financial advisor. As a result, almost anybody can call themselves one.
As for that big question, “How do financial advisors get paid?” Often, financial advisors only get paid if they sell you something.
We know you want to achieve your financial goals and live the life you always dreamed of, so that’s why it’s important to understand the role of a financial advisor. When you know their role and utilize their skills, you’ll be getting the best value possible and reap all of the rewards that come with it.
By the way, a financial advisor is just one of the people you need on your financial team. Learn about the rest of them here.
The Six Foundational Pillars to Clarity and Confidence in Your Financial Future
At Ocean 6, we have created The Blueprint, it’s six foundational pillars for clarity and confidence in every area of your financial future:
- Make it Count – Behavioral Cash Flow Planning
- Beat the Banks – Clever Debt Restructuring
- Protect Your Lifestyle – Innovative Insurance Strategies
- Grow Your Wealth – Tax-Saving Investment Strategies
- Invent Your Retirement – Efficient Retirement Planning
- Leave a Legacy – Building An Effective Estate Plan (six helpful estate planning tips)
It’s important that you are clear about what you are paying for and the value you get in return. So, we strive to uphold the clarity and transparency of our advice.
If you want to learn more about organizing and clarifying your financial future, book a call. We’d love to help.