Know which is which
There has been a great deal of coverage in the popular
and business media lately of new and innovative invest-ments
services. These start-ups have attracted some
powerful allies in the banking and investment world. They claim to
be able to manage your investment portfolio for a fraction of the
cost of what has been the norm in Canada.
While we welcome the transparency of fees and the potential cost
savings, it should be pointed out that there is a very big difference in
the value of investment management and financial planning.
It is confusing for most consumers because what has been pro-moted
as financial planning in many cases is pure investment or in-surance
product sales. The fees charged were defended because of
the added value they claimed to add but seldom did, opening the
door to criticism and price cutting competition.
BY CHET BROTHERS
SERATO & DONUT8449/SHUTTERSTOCK.COM
saskheavy.ca | Quarter 1 2017 | Think BIG 49