What's the buzz about having a financial advisor early on?
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But in addition to financial advisors, a term that encompasses anyone who helps you manage your money (broker, insurance agent, employee of your financial institution), there are financial planners who go beyond portfolio management.
Their work focuses more on the long term by helping clients achieve their life goals. They analyze the company's finances as a whole by considering, among other things, all the legal and tax aspects related to its objectives to be achieved.
The objectives vary between buying a home, fund a child's education, become self-employed, or move in with a romantic partner. We usually consult a planner for important events in our lives.
“Yes, it can cost money, but it is an investment that can bring us peace of mind says Chantal Lamoureux, President and CEO of the Institut québécois de planification financière (IQPF).
Indeed, every service has a cost. Depending on the complexity of the financial situation, the rate – often hourly – will vary.
You can also shop around for your planner by checking their profile on the AMF website financial markets to make sure of your skills and thus develop a bond of trust.
The golden rule, according to the CEO of the IQPF, is to have recourse to it earlier late.