Financial advice isn’t a commodity; it’s a specialized service that requires sophistication in different areas, depending on an investor’s needs. Therefore, mutual fund investors need to know how to select the right advisor – and the MFDA is extending some help.
The mutual fund industry organization has released a new brochure to highlight different considerations in selecting an advisor. Entitled Selecting an Advisor
, it explains important aspects of the advisory process that investors must understand before selecting an advisor and investment. Topics discussed include advisor service levels, compensation structures, and the responsibilities of advisors and clients.
“Understanding the different features of the advisory process can be difficult for investors, especially for those who have not yet begun working with an advisor. The Selecting an Advisor
brochure was created to help investors find an advisor that is right for them,” said MFDA President and CEO Mark Gordon. “The creation of this brochure is part of the MFDA's commitment to improve the investor experience by providing resources to Canadian investors that can support them in making informed decisions.”
The brochure can be accessed on the MFDA website. Investors are also encouraged to visit the site’s Investor Education page to view other informative materials.
BCSC releases informational videos on CRM2
ASC to investors: Stay away from Bristol Financial