When it comes to managing your money, many Canadians are looking for help. That’s why some turn to financial planners or advisors. But finding the right advisor can be challenging. Experts warn that some can be aggressive when trying to win your business, promising lofty returns for your investments or claiming to have the best rates in the industry. Read more ex-ponent.com

A qualified financial planner can help you establish goals and create a plan to achieve them. They can also help you understand and purchase investment products like GICs, mutual funds, RRSPs or TFSAs. They can also provide advice about life insurance and income taxes. They can also help you set up tax efficient strategies for your wealth accumulation, retirement and estate planning needs.

Retirement Calculator: Plan for a Secure Future

You can find a financial advisor through your bank, stockbroker or through independent planning companies. You can also use the National Registration Search tool from FCAC to see whether an advisor is licensed. Before you select an advisor, ask about their fees, experience and qualifications. You should also check if they’ve been disciplined or have restrictions placed on their licences, experts warn.

A reputable financial advisor will have extensive knowledge of life insurance, long term healthcare and investment solutions for retirement. They will also know how to minimize your taxes through deductions, tax-loss harvesting securities sales and by using the best capital gains tax rate when you retire. Having a solid relationship with your financial advisor can make all the difference when it comes to meeting your financial goals.