 Who's Minding Your Money?: Financial Intelligence for Canadian Investors
ISBN: 978-0-471-64650-1
Paperback
320 pages
May 2002
US $24.95
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Chapter 2: The Changing Financial Services Environment
Convergence and Consolidation
Why Didn't This Happen Before?
Everyone's Consolidating
- Banking
- Credit Unions and Caisses Populaires
- Life Insurance Companies
- Banks and Insurance Companies: Takeovers?
- Mutual Fund Companies
- Financial Planning Firms
- Stock Exchanges
Summary
Chapter 3: The Brave New World of On-Line Trading
Trading Facility or Advice?
What You Want and What You Get
Risks of Trading On-Line
Are You A Closet Day Trader?
Special Tax Reporting for Active Traders
How Much Time Are You Going to Spend?
Summary
Chapter 4: Integrated Financial Advice:
Part 1: Investment Management
What Is Integrated Financial Advice?
The Investment Management Process
Other Investment Management Services
Summary
Chapter 5: Integrated Financial Advice: Part 2: Financial Planning
Comprehensive Financial Planning
The Financial Planning Process
Step 1: Clarify Your Current Situation
Step 2: Identify Your Financial and Personal Goals
Step 3: Identify Problems or Obstacles
Step 4: Get Written Recommendations and Solutions
Step 5: Implement Your Financial Plan
Srep 6: Review Your Financial Plan
What Will the Financial Plan Cost?
Setting Standards For the Financial Plan
The Proficiency Exam
Restricted Use of Financial Planning Titles
Buyer Beware
Letter of Engagement
Summary
Chapter 6: The Cost of Minding Your Money
The Cost of Banking Services— Fees, Fees, Everywhere Fees
The Opportunity Cost
The Cost of Borrowing
Summary
Chapter 7: The Cost of Investing
You Pay for Convenience
Costs of Acquiring Your Investments
The Ongoing Cost of Maintaining Your Investments
Add Up Your Fees
Summary
Chapter 8: Working with Financial Advisors
The Range of Licenses You Find
The Nature of the Professional Relationship
What Do Advisors Really Do?
What Do You Want: Products, Advice or Both?
How Do Advisors Get Paid?
Working With a Financial Advisor
Firing Your Financial Advisor
Summary
Chapter 9: Are You Getting Your Money's Worth?
Best Product, Best Advice, Lowest Price
1. Discount Brokers Rebating Commissions
2. Discount Brokers Rebaring Trailer Fees
3. Elimination of Commission on Front-End Load Funds
4. Preferred Pricing for Large Mutual Fund Investors
5. Costs Are the Next Big Thing
What Is Value?
What Is Advice?
Cost/Benefit Analysis
Are You Getting Your Money's Worth?
1. Is There a Comparable Product At a Better Price?
2. Is There a Cheaper Way to Build You Portfolio
3. Are You Getting the Advice you Are Paying For?
4. Is Your Portfolio Taking on More Risk Than You Need?
5. Are Your Fees Increasing But Not Your Service?
6. Are Your Fees Tied to Your Asset Allocation
How Much Is Too Much?
Do It Yourself or Fully Assembled?
Investment Services and Programs Shopping List
Summary
Chapter 10: The Regulators: Who's Protecting Your Money?
Fraud and Other WrongDoings
The Punishment
Seven Steps to Make It Right
1. Start With Your Financial Advisor and/or the Compliance Department
2. File a Complaint with the Government Regulator
3. File a Complaint with the Member's Professional Association
4. Appeal to the Office of the Ombudsman
5. Appeal to the Media
6. Consider Arbitration
7. Consider Court Action
Protection For Your Deposits and Investments
How to Protect Yourself
Summary
Chapter 11: Financial Intelligence Shouldn't Be An Oxymoron
Sex is Taught in School. Why Not Money?
The Knowledge Gap
Do You Need to Pay More Attention to Your Pension Plan?
Steps You Can Take Now
Summary
Chapter 12: No One Cares About Your Money As Much as You Do
Don't Confuse a Bull Market for Brains
The Internet: The Great Equalizer?
More Choices Than Ever Before
Know Who You are Dealing With
Appendix A
Contact Numbers
Appendix B
Cost Tables
Index
Suggestions and Seminars
