Financial Planning


Hi Ladies,

How do you feel about financial advisors? Are they worth it? Would you go for one through your bank, or through a more private, boutique agency?

Do any of you go to a financial planner to help educate you on your finances and teach you about investing?

I would really appreciate some advice in this area, as it is all a little new to me.
Thanks girlies! xo
Nov 27, 2008 @ 06:39 pm

10 Replies



I think an independent advisor recommended to you from someone you trust would be the best bet. I had an old banker convince me to buy only their stocks when I was young and naive and I only lost money. I later found out from a friend who worked at that same bank (but at another branch) that they are on commission and have a sell a certain amount of their own shares to meet their quotas. I felt like a sucker. Would have been safer under my mattress. Shop around and find someone you trust.
Nov 28, 2008 @ 09:16 am

Good advice anon...

That's great advice, anonymous. I know what you mean. But I noticed how you mentioned you found one through a bank. I am iffy about those. The problem with banks is that the advisors are the ones that usually start off as tellers then they move to advisors, and their career span may not be very long.

The bank service advisors deal with so many people at once. How would they ever remember you and your financial situation?

I am looking at an independent advisor. Of course, the advisor still works for a bank but it's not a commercial one. Anyone ever heard of Investor's Group? If you have or have ever used any of their services... what do you think?
Nov 28, 2008 @ 09:41 am

through the bank

My husband and I have a financial advisor with a bank. He's a really really great guy. We trust his advice completely and he's very knowledgeable. Now, keep in mind that my husband has a pretty good understanding of investments and how they work, so he pretty much knows what he wants to do before we sit down with our advisor.

However, we have our mortgage with a different bank and we do NOT like the person who handles our mortgage finances there. She seems competent enough but she doesn't have a lot of personality and she doesn't seem to care very much about her customers. I would never go to her for financial advice if I have the choice.

I think the most important thing when finding a financial adviser is knowledge, whether you go through a bank or a private investor. Find someone you think you can build a working relationship with and do not be afraid to ask questions. Don't let them push you into anything you are not ready to commit to. If the advisor is trying to sell you a product and you are not sure you understand how it work or whether it works for you, take a step back, go home and think it through carefully.
Nov 28, 2008 @ 02:37 pm

Investor's Group

Is a huge chain. I don't have any experience with them one way or another but to me they are like the H&R Block of taxes. It might not be the personal experience you are looking for.
Dec 01, 2008 @ 03:21 pm

go for someone not at6 yoru bank

I used to work for a bank, and yes, they try to sell you things you don't need to meet their quota. it's hard to get an honest answer from them (which is why I no longer work there, i am too honest). Go for an account or someone not attached to a major bank. I am getting an accountant/advisor to help with my debt. My step-father also advised me to get someone closer to my age, so I don't feel talked down to by someone older.

If your bank offers sessions onteaching you how to manage money, accounts, etc I say go for it - it doesn't hurt to understand how banks work and think.

But for sure go with someon who has your interest at heart!
Dec 07, 2008 @ 01:00 pm

Financial planners

This is where I normally refer clients:

Check it out!

Dec 08, 2008 @ 01:54 pm

fee-based vs. commission-based advisors

There's a section in Suze Orman's "The Money Book for the Young, Broke and Fabulous" about financial advisors that might be helpful. It talks about the difference between fee-based advisors and commission-based advisors. She recommends going with a fee-based advisor, because they have no incentive to try to sell you investments that aren't right for your particular situation. 

As a beginner I found the book in general very helpful. Although it is very American-centric, and just skims the surface of stocks or mutual funds, it was a good starting point and really helped me understand credit and debt. The best thinks about it is thast it really empowered me to feel better about my ability to handle and improve my finances after struggling for so long with student debt.
Dec 14, 2008 @ 06:17 pm


Sorry about the typos - getting used to this laptop keyboard.
Dec 14, 2008 @ 06:18 pm

Van Tan Ngo, financial planner in Montreal is one of the best you can trust


I live in Montreal, Quebec, Canada and was looking for a financial advisor to help plan and advise my finance. Through my friend's recommendation, I went to meet Mr. Van Tan Ngo, a licensed financial planner with over 30 year experience.

I was very satisfied with what he did to help me with effective solutions. He has thousands of satisfied clients you can contact him to find out:
Van Tan Ngo, F.Pl
1001 Dorchester Square, suite 600
Montreal, QC, Canada H3B 1N1
Tel: 514 867 8268
Dec 27, 2008 @ 12:21 am

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