A financial advisor toronto can help you manage your money and make smart investments, but finding a good one can be difficult. It’s important to know what qualifications, expertise and credentials an advisor or planner has before you hire them. The terms financial advisor and financial planner are broad categories and can refer to anyone who advises on personal finance, including investment bankers, stock brokers, insurance agents and accountants. Source ex-ponent.com

A CFP is a professional who has been trained to assist with retirement planning, estate planning, debt management and tax strategy. They are licensed and required to take continuing education courses every year. They also must pass a rigorous exam. Other types of financial professionals include investment advisers, who are registered with the national and provincial securities commissions and have passed rigorous exams. Investment advisers are fiduciaries, meaning they must put their clients’ interests first and avoid conflicts of interest.

Montreal Financial Advisors: Tailored Financial Strategies

Financial planning involves a lot of details and can be complex, especially when it comes to taxes. A financial planner can help you save on your taxes by giving you tips on how to structure your assets and investments to minimize your tax bill. They can also recommend the best long-term care and insurance solutions to fit your budget.

However, Heath notes that hourly fees can add up quickly for people who are already spending money on advice. That’s why she says it’s important to ask an advisor or planner what their services are going to cost before you hire them.