Broker Check

What kind of advice do you get from your financial professionals?

| January 11, 2024

Functional Advice

  • Siloed transactional based advice.
  • Narrow understanding of your goals, needs and risk.
  • Could be conflicting motives between advisor (or sales person) and your best interests.
  • No financial plan.
  • Infrequent contact (when the transaction is complete or the product purchased limited support or reviews. You may feel like “they only call when wants to sell something).
  • You rarely understand fees.  

Client-centric Advice

  • Advice on key life goals.
  • Good understanding of your goals, needs and risk.
  • your best interests usually first.
  • some have financial plan.
  • consistent contact with you.
  • You frequently understand fees.

Comprehensive Advice

  • Advice on all financial and wealth management needs.
  • Thorough understanding of your life, values, goals, aspirations and risk.
  • your best interests consistently first.
  • key part of your financial life.
  • You always understand fees.

Greatest satisfaction comes with comprehensive advice but its estimated only 14% of the industry provides this level of advice (Source: JD Power).