For more cross-border financial planning tips, please visit our website: www.swanwealth...
Share this video with a friend: • Certified Financial Pl...
Does your advisor have a fiduciary duty to you?
It's not uncommon that someone seeking out a financial advisor may not know which designations matter the most and what they all mean.
It isn't merely a matter of a title. Instead, it's what the title means to you, your financial planning and the advisor's capabilities.
In this 3-minute video, John will break down the most notable designations and what they mean. Watching this video will help you decide what to prioritize when seeking out an advisory team.
Some of the main designations that anyone seeking new professional financial advice should know are these:
Certified Financial Planner
Wealth Manager
Portfolio Manager
Financial Advisor
If you have cross-border accounts you would also want an advisor licensed in Canada and the US.
The difference between all these designations is related to what each one can do for you.
Does an advisor have a fiduciary duty?
Can they manage assets in both the U.S. and Canada?
What level of testing and education did they undergo?
These are all valid questions and concerns.
For example, your advisor may have a fiduciary duty to you. If so, that means that they are legally obligated to act in your absolute best interest at all times. They can't sell you a product that may make them a better commission if one of equal value has fewer fees.
Finally, the most critical consideration beyond your advisor's designations is this: Do you feel that you can be open with your advisor about your goals and fears?
We all know that sometimes managing our finances can have an emotional charge. We might get worried about ups and downs. Or we are concerned about the future.
It's essential you feel comfortable enough with your advisor that talking about your fears, worries, concerns, and dreams is natural.
As always, if you're ready to create a cross-border financial plan, please do schedule a call.
_________________________________
_________________________________
Want to get clear on how to manage your 401k in Canada?
Read our guide: www.swanwealth...
Retiring from the US to Canada?
Read our guide: www.swanwealth...
Learn everything you need to know about RRSPs here:
www.swanwealth...
Planning a cross-border move from the US to Canada (or vice versa)?
Get free tips you won't find anywhere else: www.swanwealth...
_________________________________
_________________________________
#wealthmanagement #certifiedfinancialplanner #canada
TABLE OF CONTENTS
00:00 Intro
00:37 What is Wealth Management?
00:48 What is a CFP?
01:05 Regular Managers vs. Portfolio Managers
01:30 Is your advisor a fiduciary?
01:43 Do you need a Dual-Licensed Advisor?
02:21 What's your first step?
KEY TOPICS:
investing, retirement, cfp, financial planning, retiring to Canada, financial advisor, wealth management, retirement planning, cross-border financial planning, retirement planning Canada
15 авг 2024
