Money Your Own Way

Money your own way

Becoming a do-it-yourself irvestor is definitely not rocket science , and you don't need a Phd in finance.

But if you can't commit to analazing your investments, you're better off to find a fee-only adviser.

You pay a flat percentage fee, usually between 0.75 per cent and 1.5 % of the assets in the account. This covers all transaction costs (sometimes to a maximum number of trades) and help with financial planning.

Banks, Investment Brokers are tied to the sale of products, some sell what pays them and their firms the most — and not what's best for the clients.

Fee-based advisers sell only their own expertise.

They can adjust portfolios without being hit with exit fees or penalties .The deferred sales charge approach that is the norm in the Canadian mutual fund business.

How do you find a fee-based adviser? Go to the Portfolio Management Association of Canada's website or call 416-504-1118. You put in the amount of assets you have to invest and get a list of firms, with a description of each. For example, if you are a private investor with $100,000 to $250,000, you'll find 28 firms catering to you in Ontario.

If you don't want the hassle,use a reputable bank investment councillor,they charge more but they will diversify your investment to give you a decent return.Their

expertise charge is income tax deductible in Canada.