A new online resource launched by the Investor Education Fund now allows investors to strike a balance in the advisor-client relationship by educating them on how to “Know Your Advisor.”
Timed to launch during Investor Education Month 2004, “How to Work with a Financial Advisor” is an interactive, online tool now available in the Interactive Centre of the Investor Education Fund’s Web site at www.investorED.ca.
The program helps investors learn about what makes a good advisor-client relationship. The self-guided program lets visitors watch, listen and learn at their own pace.
Using three common types of advisors as examples, the program addresses typical questions which often arise over the course of a relationship with a financial adviser, including:
- How can I tell if an adviser is qualified to help me?
- What can I expect from my adviser? What is my responsibility in the relationship?
- How does my adviser get paid?
- How do I know if my adviser is doing a good job?
- How can I help to improve the relationship?
- How do I protect myself? Where do I go if I have a complaint?
“Investor education research shows that professional advisors are cited as one of the top sources of investment education and have the most influence on what investors do with their money,” said Terri Williams, president of the Investor Education Fund, in a news release. “It is crucial for investors to pro-actively build and maintain a mutually beneficial relationship with their advisor.”