Want to avoid an Earl Jones nightmare in your life? Do you know whether the person who wants to sell you mutual funds is on the up-and-up? Ken Kivenko of CanadianFundWatch.com gives us the details on how exactly to check out mutual fund salespeople (technically, dealing representatives, self-termed as advisors) in Checking Registration and Disciplinary History. Unfortunately, the dogs-breakfast regulatory system in Canada means that it takes three pages of single-spaced explanation on how to do this and even then it is not foolproof, but hopefully readers will believe it is worth the effort.
There is another solution of course - be a DIY investor. Then you can wrestle with the question of whether you should entrust yourself to invest your own money.
Tuesday, 2 October 2012
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4 comments:
Mr. Kivenko is to be thanked for selfless giving of his skills to help inform and protect Canadians from financial "advisor" misconduct. He has done this for about a decade now that I am aware of. Single handedly he has done more to protect the public in Canada than any three provincial securities commissions combined.
Larry Elford, Former CFP, CIM, FCSI, Associate Portfolio Manager, retired
I'd second that Larry. Ken's commentary is always backed up by facts and details. Of course, you would know as another voice crying for a fair deal for investors.
oops ... meant "crying out" ... but sometimes just "crying" is what it feels like? - certainly it is for me
Good Information. Thank you for sharing and I want to share information about Gerstein Fisher which is an independent investment advisory firm that manages assets on behalf of individuals and families and helps clients with their financial goals.
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