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COLUMN: Ask the Money Lady – What to pay your advisor
['Christine Ibbotson']
The Carillon
Dear Money Lady,I want to change advisors for the New Year because I think I am paying too much.
Many Canadians worry about the fees they pay their advisors and wonder if they’re paying too much regardless of the amount they have saved.
Having been an investment banker for over 30 years, I can tell you, you do get what you pay for.
Investment advisors are usually on straight commission, making them much more motivated to ensure you make a profit of which they in turn are compensated on.
For more advice check out her YouTube channel: ASK THE MONEY LADY – Your Canadian Finance Coach.