In recent years, there has been increasing transparency around investment fees and their effect on returns. Transparency has helped thousands of Canadians carefully examine the value of advice.
For instance, if two money managers can each earn 10% on your money, but one charges 1% and the other 3%, what lands in your pocket is closer to 9% and 7%, respectively. It’s important to recognize what you’re getting in exchange for those costs.
Whomever you choose to manage your money, the aim should be to make you wealthier over your lifetime than you would have been without them.