How to go about securing the best return for your investment in Canada.
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Married with money: How to combine finances with your partner Apr 13th
If you’re in a relationship, the topic of money will eventually come up. Since the pandemic started, couples have spent more time talking about money, according to a 2021 RBC poll. Almost half—47%—identified finances as one of the biggest stressors in their relationship. One U.S. study found t.... More »
Toronto’s hot housing market is making divorce even messier — here’s how splitting couples can cope Jun 20th
One financial adviser says she’s done financial planning for separating couples who can’t afford to move out to begin with, so both parties remain in the home. Others end up in tiny condos with no room for the kids.... More »
What types of tax-free savings accounts (TFSAs) exist? Dec 19th
A tax-free savings account (TFSA) is a fantastic way to earn money on your savings, without having to pay tax on those earnings. Registered by the federal government, TFSAs are available to Canadians aged 18 and older. Unlike a registered retirement savings plan (RRSP), you cannot deduct contributio.... More »
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Apple's rumored iPhone satellite support may be for emergency calls and messages - Yahoo News Canada Aug 31st
Apple's rumored iPhone satellite support may be for emergency calls and messages Yahoo News CanadaiPhone 13 satellite rumour may not be about satellites at all MobileSyrupApple to Add Satellite Tech into iPhone for Emergency Reporting Features: Gurman iPhone in Canad.... More »
What does a fee-only financial planner do, exactly?
– moneysense.ca
Q. How do you make money, Jason, if you don’t sell any products?
–Rob
A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.
Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an important point to clarify so people do not wonder if I have a conflict of interest when they read my advice in articles and interviews.
Some financial planners make money by selling products, like mutual funds or insurance. Those products may pay them upfront or ongoing commissions, or a combination of the two. Different products pay different commissions, and their advice may be influenced by the way they get paid. That is not to say their advice may not be good, but they may have conflicts of interest.
Many consumers do not understand the difference between a financial planner, a financial advisor, or the many other financial titles that companies and individuals use to describe their role. Quebec is the only province where you need credentials to call yourself a financial planner…
–Rob
A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.
Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an important point to clarify so people do not wonder if I have a conflict of interest when they read my advice in articles and interviews.
Some financial planners make money by selling products, like mutual funds or insurance. Those products may pay them upfront or ongoing commissions, or a combination of the two. Different products pay different commissions, and their advice may be influenced by the way they get paid. That is not to say their advice may not be good, but they may have conflicts of interest.
Many consumers do not understand the difference between a financial planner, a financial advisor, or the many other financial titles that companies and individuals use to describe their role. Quebec is the only province where you need credentials to call yourself a financial planner…
