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Preet Banerjee, B.Sc., FMA, DMS is a former stockbroker and financial advisor in Toronto. Information on this site is for entertainment purposes ONLY. Always seek individual professional advice before making any financial decisions.

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Where To Find A Fee-Only Financial Planner

February 11th, 2009 • Related • Filed Under
                                                         
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I had a reader send in an email a few weeks ago looking for some specific financial planning advice. We actually chatted on the phone and we decided that perhaps she might want to consider working with a financial planner that works by the hour. As such, here are a few resources that one might refer to for help in finding a fee-only financial planner in Canada:

Duncan Hood from Canadian Business magazine has seven pages of fee-only financial planners listed in the article, Where to find a fee-only financial planner.

IAFP – The Institute of Advanced Financial Planners – administers the RFP designation (which is much more difficult to earn and maintain than a CFP designation) and they have a fantastic resource on their website that allows you to search for an RFP in your area based on various criteria.

DISCLAIMER: I do not personally vouch for any planner listed on either resource, do your own due diligence when selecting a financial advisor.

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There Are 9 Responses So Far. »

  1. Pingback by Where To Find A Fee-Only Financial Planner | No Brainer Profits on 12 February 2009:

    [...] Excerpt from:Where To Find A Fee-Only Financial Planner [...]

  2. Comment by JoAnne Anderson on 12 February 2009:

    And here’s another that didn’t make Duncan’s list

    MoneyPower Group at Raymond James
    4263 Sherwoodtowne Blvd Ste 200
    Mississauga, On L4Z 1Y5

    email: janderson@raymondjames.ca

    • hourly fee: $150 – $250 per hour, depending on complexity

    • licensed to sell investment products
    • percentage of assets under management:
    • 1.25% of first 250,000
    • 1% under $1 million
    • 0.75% of next $2 million
    • 0.50% of excess

    areas served: Ontario, Manitoba, Alberta, BC

    planner credentials: B.Comm (Hons), CFP

    areas of specialization: comprehensive financial planning, retirement planning, tax planning, special services for those who have received sudden wealth (lottery winnings, inheritances, insurance settlements)and for people in transition (retiring, starting or losing a job, recently widowed, separated or divorced) and financial planning for business owners

  3. Comment by Mark Wolfinger on 12 February 2009:

    Preet,

    Can you tell me how financial planners are ‘educated?’ Is there a specific course of studies? Is there a list of topics they must master?

    Do you know if there is any training in derivatives, including stock options?

    Do you think it’s different in the US?

    Thanks and keep up the good work.
    Mark

  4. Pingback by A Lap Of The Blogs : WhereDoesAllMyMoneyGo.com on 12 February 2009:

    [...] Chevreau linked to my last post which listed some resources for finding fee-only financial advisors in Canada. Jonathan discusses the difference between “fee-based” and [...]

  5. Comment by Preet on 12 February 2009:

    @ Mark Wolfinger – that sounds like a good blog topic – to go with the one I was planning on your question about why advisors don’t use options more ubiquitously… stay tuned. You probably know the answers already, but I’ll write about it in a bit of detail in the next week or so…

  6. Pingback by This and That: Valentine’s Day edition on 13 February 2009:

    [...] As I found out last summer, it is not easy finding a fee-only financial planner. Preet found a few resources that help in finding a fee-only planner. [...]

  7. Comment by financial advisor on 9 April 2009:

    My company (ClaroConnect.com) matches individuals to financial planners in the U.S. We have a directory of specialized financial advisors so you can find the perfect planner for your needs, whether you are a small business owner, socially responsible investor, retiree, or just getting started. You can sort advisors on the website by several criteria, including fee-only advisors.

  8. Comment by Julie on 3 June 2009:

    If the company sells financial products (any kind) they are by definition biased. They will earn money from the cleint on the products they sell.

    Fee Only means they charge a fee to give objective, unbiased advice on your portfolio.

  9. Comment by short calls on 25 November 2009:

    Can you tell me how financial planners are ‘educated?’ Is there a specific course of studies? Is there a list of topics they must master?

    please contact on http://www.technomartrga.com this is best financial planning service provided.

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