If you are unsure how to select a financial advisor, check out an advisor ranking website such as MoneySense. Their search tool will help you find a knowledgeable advisor to help you grow your wealth. MoneySense is Canada’s leading magazine on personal finance and has been around since 1999.
Last week, Miles Clyne and the Tycuda Group received MoneySense’s ‘Approved Financial Planner’ accreditation, something we are all very proud of as a team.
MoneySense Approved Financial Advisors are subjected to rigorous screening, with an emphasis on quality service for investors at reasonable fees and commissions. Numerous applications are sent in and reviewed by advisors for approval in the program, checking qualifications and subjecting them to a very high independent standard.
An approved advisor also had to receive top marks from their own clients in a separate, anonymous questionnaire. The MoneySense approved advisor program has given the Canadian marketplace an independent source to pre-screened advisors.
To earn this designation, there is a four-step accreditation process that includes:
1. An advisor application questionnaire enquiring into the services offered; fees and compensation structure including any amounts that might be receive from third parties, such as investment product issuers; the nature and frequency of reports clients receive; and other areas deemed important by MoneySense.
2. A background check of certifications and record with oversight bodies and industry regulators;
3. An online survey in which MoneySense asks current clients (i.e., active within the past two years; minimum response rates applied) about fees, quality of service, etc.;
4. A telephone interview in which MoneySense asks follow-up questions based on the first three steps of the application process.
Whether you’re a personal finance novice or a wealthy individual looking to take your finances to the next level, finding a quality financial advisor can be tough. A lot of people become overwhelmed, not knowing if they are just being subjected to a sales pitch and can get overloaded with information. Knowing the right questions to ask your perspective advisor may be the key in selecting the one that fits best for you. We previously wrote a blog on what questions you should be asking your existing or prospective advisor, and some other things to look out for. Click here to check that out if you haven’t.
Being transparent and available to all clients and prospects is a top priority at the Tycuda Group. We believe the services we provide are unbiased and always put client needs first. Whether you’re just starting off, are unhappy, or simply want a second opinion on your current situation, we are committed to help. If you are looking for a reliable group to help you manage your financial challenges, check our website or find us on the MoneySense Approved Financial Advisors List.
*MoneySense Approved rating is created for information purposes only and is not intended as financial advice. Rogers/MoneySense makes no representations or warranties as to the suitability of any particular Financial Advisor and/or investment for a specific investor. Visit MoneySense.ca/approved for details and full methodology.