Organizing your finances and keeping a financial profile of smart investments can be a life-long endeavour.<\/p>\n
The work of managing these financial assets is generally too much for one person to take, and is the main reason many potential investors reach out to a professional advisor for assistance.<\/p>\n
And while thousands of Canadians rely on the services of a financial advisor, it would seem seniors are the ones that really know what they want when it comes down to their investments and those managing them.<\/p>\n
In 2014, approximately 35 per cent of the complaints received by the Investment Industry Regulatory Organization of Canada (IIROC) were from seniors.<\/p>\n
In order to avoid trouble with your finances and the ones managing them, here are three quick tips to being a smarting investor.<\/p>\n
Use available resources to get informed<\/strong><\/p>\n The Internet is inundated with resources to help you not only pick the right advisor, but to help you better understand the market in which your money will be operating in.<\/p>\n The IIROC offers resources on their website on countless topics ranging from advisor information, to glossaries of financial terms, to quizzes that will test your knowledge and help you understand the areas of which you may need help.<\/p>\n Check out your advisor<\/strong><\/p>\n This is a critical aspect of picking the right person to manage your finances.<\/p>\n You\u2019ve spent a long time earning the money you\u2019ve saved and you want to ensure the right person is taking care of it.<\/p>\n Be sure to check into any prospective advisor\u2019s background, their investment and work history and their credentials. There are also resources available online to help understand the different certificates doled out to advisors for courses and other educational achievements they may have acquired.<\/p>\n This latter information is not only important for understanding your potential advisor\u2019s aptitude, but it\u2019s also important in letting you know if they can handle the type of investments you\u2019re looking to make.<\/p>\n Different advisors specialize in different areas of investments and have different education accolades to back that up. Be sure your advisor specializes in those areas you\u2019re focused on.<\/p>\n