Thanks to the guys who dropped my name here, I really appreciate that!
Im a little bit biased in agreeing that you should stick to advisors with a CFA/CFP because I have both. But Izzle makes a critical point to me because a Portfolio Manager has a fiduciary duty. It’s appalling to me that some people have fought vigorously against a best-interest standard in Canada, but that’s another discussion.
I also wanted to publicly answer a couple of your questions here though. One is that you shouldn’t be paying for an initial meeting. At that point, you don’t know the person you’re meeting, they don’t know what your situation is and what you’re looking for. I understand that’s a slice of the advisors time “given away”, but it’s just part of the business.
As far as fees, I’m a fee-for-service advisor. There could be some who operate on commission at this point, but it seems to be dwindling to me.
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