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What happened when financial industry veteran looks for an adviser

Today, I recalled my own story after I read this story on Globe and Mail  about a financial industry veteran looks for a financial advisor. 


I asked the following question during a lunch with a group of financial industry veterans when I was working for a big financial firm.“Does anyone have a financial advisor?”All people laughed at me and thought I was an idiot. The director from our fix income trading desk got back to me and said “Seriously, that is what we all do all day all year round!”

I agree he is an expert about fix income investment. However, I am not so sure he understood other aspects of financial planning. He said to have a will is not necessary.

Studies show that investors who worked with advisors earning 250% higher rate of return than those who acted by themselves.

We all know finding a good advisor is a challenging task. I am sure Colin Monteith has more money for advisor to manage than average Canadians. 

Have you tried to go to any bank asking for advisors’ help when you told them you have 5 thousands dollar to invest?Please do let me know after you tried and good luck with that!

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