Five tips for choosing your Wealth Manager

How do I choose a full-service Wealth Manager? What aspects should I consider to make sure I make the right choice? In this article, we give you five concrete tips for choosing the best Wealth Manager for your situation.

An open and honest Wealth Manager who asks the right questions:

In order to create your investor profile, they will need to know more about:

  • Your personal and financial situation
  • Your age
  • Your annual income
  • Your assets and liabilities
  • Your objectives
  • Your retirement plans

They will give you information about:

  • How they are paid
  • Their decision-making process
  • The number of meetings per year
  • Everything else you need to know

Level of expertise and area of specialization

Not only should they have a degree in business administration, economics or a field related to the financial sector, they must also be a member in good standing of a professional order or an organization that oversees the distribution of financial products and services. You can check the register of individuals authorized to practise on the website of the Autorité des marchés financiers - External link. Opens in a new window. You can also check the website of the Institut québécois de planification financière - External link. Opens in a new window. to find out if they have a degree and are authorized to practise as a financial advisor.

References and team’s expertise

Think you’ve found the rare gem? Now it’s time to find out more about their team. There’s a simple reason for this: the financial sector is vast, intricate and constantly changing. For this reason, professionals choose 1 or 2 areas to specialize in so that they can stay up to date and provide the best possible services.

To make sure they’re able to deliver a comprehensive range of wealth management services, your team of Wealth Managers must be true experts in this field.

Level of experience

Each year of experience they acquire in the financial sector adds to their credibility, allowing them to pinpoint your needs and offer you customized services.

Request face-to-face or phone meetings.

After an initial meeting, you’ll be able to tell whether or not you feel comfortable with your Wealth Manager. Does everything seem above board? Ask them for references, such as a lawyer, an accountant or a banker with whom they deal with regularly.

Note that most financial products and services firms don’t charge for the first meeting. Take advantage and book your free appointment today.

Each Desjardins Securities advisor named on the front page of this document, or at the beginning of any subsection hereof, hereby certifies that the recommendations and opinions expressed herein accurately reflect such advisor’s personal views about the company and securities that are the subject of this publication and all other companies and securities mentioned in this publication that are covered by such advisor. Desjardins Securities may have previously published other opinions, including ones contrary to those expressed herein. Such opinions reflect the different points of view, assumptions and analysis methods of the advisors who authored them. Before making an investment decision on the basis of any recommendation made in this document, the recipient should consider whether such recommendation is appropriate, given the recipient’s particular investment needs, objectives and financial circumstances.

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