Parting Ways with my Financial Advisor

I have been with my Financial Advisor for ten years.  Over this period he has provided some good advice on uncommon tasks, such as setting up trusts.  However, my level of knowledge about picking stocks, bonds and ETFs has grown over the years and our relationship had become primarily one of order taking.  On a couple of occasions these orders had been incorrectly executed (see BMO and Canadian Oil Sands trades), which is not acceptable.  It is difficult to justify paying 1% of my total portfolio value every year for such advice so I have decided to self-manage.  It was a difficult decision, but a necessary one.

Advertisements

One thought on “Parting Ways with my Financial Advisor

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s