Q) What does the Investment Report Card™ cover?
A) We assess the suitability of your current investments based on several criteria, including fees, rate of return, investor profile (personal preferences, risk tolerance, goals, investment knowledge), asset allocation (cash/bonds/stocks) and location (RSP/TFSA/non-reg).
If your current investments are not optimal, we will direct you to better solutions. We act as unbiased consultants, and advocates. And we do not sell investment products, avoiding a potential conflict of interest that is, unfortunately, all too pervasive in the financial services industry.
Q) Why should I pay you to review my investment portfolio?
A) Many advisors do an excellent job advising their clients regarding their investments, although it is incorrect to say they do it for free. It’s important to know that investors are always paying their advisor for service (and we’ll show you just how much), so the real question is “Are you getting the advice and service you’re paying for?” If you’re here, checking out our On Your Side Investment Report Card™, it’s possible that you have doubts about the advice you currently receive. Let us take a second look.
Q) What types of investment accounts do you review?
A) We review RSP, TFSA, non-registered, RESP, RDSP, and corporate investment accounts.
Q) What information do I need to provide?
A) To provide you with concrete, actionable guideance, we need detailed and current information regarding your goals, priorities, and investment portfolio, including information about the past performance of your investment accounts and associated fees. If you are currently working with an investment advisor or discount broker, they should be able to provide most of the information we require. Don’t worry, we provide instructions on how to request this information from your investment advisor and send it to us easily and securely.
Q) Can I add other family members to the report?
A) Each On Your Side Investment Report Card™ report focuses on an individual’s investment portfolio and their own set of goals and priorities. You can purchase an On Your Side Investment Report Card™ report for couples, which provides two individual reports that are developed and discussed at the same time with one of our investment coaches.
Q) Why does it take five to seven days to receive my On Your Side Investment Report Card™?
A) Although we have automated and streamlined many elements of the On Your Side Investment Report Card™, we still require one of our investment coaches to closely review every facet of your investment portfolio and prepare your customized report. With something as important as your investment portfolio, we take the necessary time to get all the details just right.
Q) Who will prepare my report, and what experience/qualifications do they have?
A) Your report will be prepared by an experienced, Canadian-based investment coach who holds a Certified Financial Planner (CFP®) designation and has extensive experience advising clients on their investment portfolios.
Q) Will you tell me which investments I should buy, sell, or trade?
A) Money Coaches Canada, and our investment coaches, are not licenced investment advisors. Canadian securities regulations do not permit advice-only financial planners to provide buy, sell, or any trading recommendations for any specific investment product.
It’s important to know that research has shown that security selection is not where financial advisors add the most value. The On Your Side Investment Report Card™ delivers exceptional value by ensuring that you have a solid investment strategy, an appropriate asset allocation to fit your goals and risk profile, that you get a fair rate of return and service level for the investment management fees you pay, and that you’ve structured your portfolio to be tax efficient.
Q) If I need help managing my investments where do I go?
A) After working with thousands of clients over the past decade, Money Coaches Canada has become the premiere fee-only, advice-only financial planning firm in Canada. As a result, we’ve built strong working relationships with many of Canada’s leading financial services firms. We’ve developed a list of investment managers who specialize in various investment solutions and share many of the same values as our firm:
- Integrity – their actions and business practices match their words
- Reasonable and transparent fees – clients pay an appropriate fee for the service they receive, and that fee is clearly reported and documented
- Solid performance – the manager has a track record of achieving their performance mandate over the long-term
- Client advocates – they keep their clients informed about their investments and developments that may affect them and the industry
- Client-service focus – they respond to client requests in a reliable, consistent manner, and listen to clients for feedback on how to improve their service
- National presence – they can support clients coast-to-coast
Please note, Money Coaches Canada does not receive any form of compensation from any Investment Managers.
Q) Will you tell me if I’ll be ok in retirement?
A) Retirement planning is about much more than just your investments. It involves understanding your long-term goals, values, and dreams, your current and future cash flows, your circumstances around debt and tax, your on-going obligations to your family, and your estate plans. Retirement planning is exciting and rewarding, and something every Canadian should do! However, it is beyond the scope of the On Your Side Investment Report Card™ which focuses strictly on investments.
To answer your questions surrounding retirement, book an initial consultation with a Money Coach. A Money Coach will help you create, monitor, and update your personalized, comprehensive financial plan.
Q) Can you advise on real estate, homeownership or rental properties?
A) Unfortunately, this is not part of the Investment Report Card service. This needs to be done in the context of a full financial plan. One of our Money Coaches would be pleased to assist you. Consider booking a free initial consultation today.
Q) I prefer to meet in-person. Why don’t you offer that option?
A) We’ve designed our On Your Side Investment Report Card™ to be fast, efficient, cost-effective and accessible to as many Canadians as possible, while at the same time maintaining a personalized, client-centric focus. An online-only service allows us to minimize costs and provide exceptional value to clients. Don’t worry, you will still get to speak with a real, live human being – a CFP® professional no less – to review your report and answer your questions.
Q) How is my information kept secure, and my privacy protected?
A) The privacy and security of your information is important to us. That’s why we exchange all sensitive or personal information with you via a secure online client portal. Access is password-protected, and your data is encrypted and stored on servers within Canada. We follow all Canadian privacy laws and do not share or sell client information to anyone.
Q) What if I have more questions after my meeting with the investment coach?
A) If you have additional investing questions beyond the scope of the On Your Side Investment Report Card™, one of our investment coaches will be happy to assist (additional charges apply).