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Wealth Professional | 05 Feb 2015, 09:51 AM Agree 0
New report from leading management consultant paints a very unhealthy picture of Canadian household finances. A good financial plan can help. Are you doing enough?
  • Fraser McDowell CFP | 05 Feb 2015, 08:24 PM Agree 0
    Seriously?? The author feels it is financial advisors failing that Canadians have accumulated too much debt. Has it occurred to you that the vast majority of people in the statistics DON'T have advisors?
  • Will Ashworth | 06 Feb 2015, 12:46 PM Agree 0
    Good point, Fraser. However, this article wasn't meant to chastise advisors, but simply is a reminder that you continue to fight the good fight on debt reduction - like many as you suggest, are already doing.
  • Fraser McDowell | 06 Feb 2015, 05:04 PM Agree 0
    Yes fair enough but we now have a steady diet of articles every single day suggesting that Canadians biggest problem is related to fees and/or comisions for financial advice. It is just possible that a bigger problem would be LACK of financial advice and making poor decisions. I dont think too many people were advised to accumulate an out of control amount of debt. They got there on their own. I would say this is a great example of the value of advice.
  • Ken kivenko | 10 Feb 2015, 12:34 AM Agree 0
    Why would a commissioned rep want to reduce AUM?In fact many mutfund "advisor" encourage leveraging.
  • Will Ashworth | 10 Feb 2015, 09:38 AM Agree 0
    Hi Ken,

    As you point out, the old "3-for-1" is still a common practice in the mutual fund industry. The problem is once people get on the drug they're hooked.

    Thanks for the comment.
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