Fees are a sensitive subject in wealth management. The often lost concept in wealth management is fair, true, and plain disclosure of fees.
However, in 2016, Canadian regulators are enforcing the final stages of the Client Relationship Model Phase 2 or CRM2 for short. This regulation will enforce that all investment dealers and financial advisors provide a report on their compensation.
Although this is a giant step in the right direction for the industry – we at HighView would like to remind you that typically the “fee” is not always the whole “fee”.
There are five important questions we recommend clients ask their advisors to get a full understanding of costs.
We believe all costs or fees should be transparent and disclosed to you as the client. The more information you are able to gather, the better you can evaluate the value of service being provided to you and your family.
Find out the five questions in this video!
