Your investment advisor will be able to provide you with better advice if they have a solid understanding of your personal circumstances and future goals. You can expect your advisor to take the time to get to know you, as outlined in the Know Your Client rule. This includes information about your financial goals, financial circumstances, income, marital status and number of dependents.
Your investment advisor can provide a number of services, which may include:
- Understanding and reviewing your financial situation and needs, including how much risk you are willing and able to handle;
- Guiding you to develop and monitor your financial plan;
- Buying and selling units of a fund for you, based on your needs and your ability to handle risk;
- Providing you with account statements and other information, including keeping detailed records about your account and providing you with information and access to your account online.
How often you meet your investment advisor will vary based on your needs. You should ask how often your investment advisor recommends meeting. In between meetings, if your personal circumstances change – for instance, if you are buying a home, changing jobs, having a child, experiencing a change in income level or receiving an inheritance, contact your investment advisor to review your needs and objectives.