Sleep Better at Night with the Investment Report Card

Posted on: March 27, 2019

You know that a sound investment strategy is crucial to financial success, and you’re willing to pay an advisor for their advice and expertise. But how much should you pay? And how do you know if they are doing a good job or if your portfolio is performing as well as it should be? Investing is complicated, leaving most Canadians unsure of what questions to ask and equally unsure whether they would understand the answers.

That’s why we’re eliminating the guesswork.

At Money Coaches Canada, we’re proud to introduce the On Your Side Investment Report Card™. This unique report gives you an unbiased second opinion about the health of your portfolio and whether it aligns with your unique personal goals. If you’re in good shape, we’ll let you know so you can move forward with confidence and sleep better at night. If there’s room for improvement, we’ll explain where, why, and how to go about making the necessary changes.

Here are five important reasons you need the On Your Side Investment Report Card.

#1) Important Decisions Deserve a Second Opinion

When making big choices, people wisely seek professional counsel from experts in the field. For life-changing decisions – like major surgery, or your life-long financial well-being – you may seek advice from more than one expert. A second opinion is smart. So why don’t investors get one more often?

One reason is that we trust professionals and take them at their word. We consult professionals precisely because they know what we don’t, so questioning them can feel uncomfortable. Usually, trusting a professional who is obligated to serve your best interests first is fine. But that often isn’t the case in the financial services industry. You may be dealing with a “professional”… but it might be a professional salesperson!

Confusing industry lingo further clouds the issue, making it difficult to know if you’re truly comparing apples to apples, even if you do consult multiple industry professionals.

But second opinions matter. If you would see a second mechanic before a costly car repair, you should certainly seek a second opinion about something as important as your financial health. Money Coaches Canada’s Investment Report Card is designed to give you an unbiased second opinion in clear, easy to understand language.

#2) You Shouldn’t Need A Degree in Finance to be a Smart Investor

Your financial advisor’s job is to use their knowledge to help you — not hold you hostage. Knowledge truly is power, and a shady advisor won’t want to share it with you.

Unless you pursue an education in financial markets, you’ll probably never know as much about investments as your financial advisor. If you did, you wouldn’t need them. Your financial advisor should present you with various options and make it easy to understand the pros and cons of each. You should feel confident, secure and in control of your future after speaking with them. If they don’t make you feel that way, stop doubting yourself and find a financial advisor who empowers you.

#3) Minor Tweaks Make Major Impacts

What small change can you make today that would impact your tomorrow? A small change can make a big difference over time, so it’s important to get your investment details right.

Here’s an example. Pretend that you’re 45 years old and have $100,000 in your investment portfolio. You plan to invest an additional $10,000 every year until you retire at age 65. Every year, your portfolio earns 6 percent and your advisor charges you a fee of 2.25 percent. Things are looking pretty good.

But what if you found an investment advisor who only charges you 1.25 percent? Even if everything else remained the same, this fee reduction would net you an additional $76,044 at retirement. That’s a lot of money from a little change!

This example makes it clear just how important it is to review every facet of your investment strategy. Some seemingly minor changes can have huge impacts on your bottom line. Remember that we’re talking about more than just abstract numbers on a spreadsheet. The choices you make now will dictate how you live when you retire.

#4) Canadians Need Better Financial Advice

When you buy a car, you know that the salesman likely works on commission, giving him reason to try and upsell you extra features you don’t need. Unfortunately, financial services are often sold in the same way. “Financial advisors” are often commissioned salespeople selling a specific product line. Their job is to pair you with their products rather than creating a customized investment strategy for your financial goals.

To make matters worse, many bank and investment firm employees are now admitting that they have sales quotas to meet. You should know if your current investment team truly has your best interests at heart or if they’re looking to pad their commission checks at your expense. You should understand what fees you’re paying and how much they are. Sadly, hidden fees and commissions can and do get buried deep in financial statements where few dare to tread!

At Money Coaches Canada, we remain independent and don’t sell or manage investments, so that bias never clouds our judgment. We don’t believe it’s enough to simply provide our clients with “suitable” financial advice as the law requires. We want to provide you with the best financial advice we possibly can.

#5) Investing Should Be About You

Although good for them, your next-door neighbor’s investment plan may not work for you. Your strategy should help you get where YOU want to be, not where someone else does. It’s about achieving YOUR financial goals, whether that’s the retirement you’ve dreamed of, higher education for your kids, or any other goal that requires you to save and invest.

Your values also matter. We founded Money Coaches Canada on the belief that every Canadian has the right to act intentionally with their money, striving to reach their financial goals while respecting and supporting their values. Our Investment Report Card helps you ensure that your portfolio is in alignment with who you are.

It’s time to stop losing sleep over your investments. Let the On Your Side Investment Report Card show you how well your portfolio is performing, the fees you’re truly paying, and whether it is structured appropriately to your unique goals and circumstances. You don’t have to navigate a complicated financial path on your own – let one of our Investment Coaches help. Get your report card today, complete with personalized recommendations for your financial success.

Buy Your Report Card Now



Category(s): Investing

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