Stay Informed about Your Investments

stay informed about your investmentsWith all the volatility in the markets, risk and investment suitability has become more of an issue for investors. It wasn't too long ago, when everything was going up, that few wanted to question how their investment actually worked.

Higher returns seem the most important financial issue when choosing an investment, but pale in comparison to the reality of loss when your investment does not perform as expected. What can be done to minimize the risk loss?

Of course there are some financial strategies you can use such as diversification, dollar cost averaging and buying at a discount using a value manager. One strategy that is commonly overlooked, because it just seems obvious, is knowing what you own.

When was the last time you reviewed what the top 10 holdings in your portfolio? How is your manager buying these holdings? How are you doing in comparison to others? Are you comfortable with the strategy you are using?

Check out this excerpt from Mackenzie Financial Insight Magazine below ...

Why you should stay informed about your investments

In this, the third in a series on the value of financial advice, we’ll look at how to work with your financial advisor, including a list of questions to ask. For additional information please go to
Once you have chosen an advisor, the real work begins. Remember that like any relationship, an advisor-client relationship requires attention and continued maintenance. Ongoing, open communication is the key to a long-term partnership. If you know what to expect from your advisor and what the advisor expects from you, then you’ll both be off to a good start.

Your advisor’s responsibilities to you

  • Act in your best interest
  • Answer questions
  • Communicate and identify opportunities
  • Confirm expectations and investment needs
  • Disclose compensation
  • Discuss risks associated with recommendations
  • Identify opportunities
  • Make appropriate recommendations
  • Observe and adjust strategy
  • Recognize problem areas
  • Recommend other professionals/experts
  • Report regularly
  • Respond quickly

Your responsibilities to your advisor

  • Ask questions
  • Be committed to achieving your goals
  • Disclose information
  • Express your risk tolerance
  • Go to your meetings prepared
  • Keep advisor up to date on your situation
  • Keep documentation
  • Provide feedback about advisor’s services
  • Respond quickly

Stay informed about your investments

The financial advisor’s role is to work with you to develop a comprehensive financial plan, share their expertise, and to keep you informed of the investment marketplace and opportunities that may arise. Depending on your arrangement, you may meet your advisor quarterly, every six months or every year.
At minimum, you will probably meet your advisor at least once a year. To make the meeting a productive one, be sure you have a list of topics and questions ready. Here are some areas that you may want to discuss.

Annual meeting checklist

  • Your financial plan
  • General financial market and economic conditions
  • New investment products
  • Changes in lifestyle that will affect your finances
  • Changes in your financial status or goals
  • Your investments’ performance
  • Asset allocation
  • Portfolio re-balancing
  • Major expenditures or planned expenditures
  • Budgeting
  • Tax planning
  • Preparations for upcoming financial deadlines (e.g. RRSP contributions, income taxes)
  • Retirement planning (including converting RRSPs to a retirement income stream)
  • Charitable donations and legacy planning
  • Life insurance
  • Estate planning
  • Your satisfaction with your advisor’s services
  • Stay informed about your investments

Questions to ask when your advisor recommends an investment

  • Why are you recommending this investment?
  • What is the performance record of this investment?
  • What are the risks?
  • How does this meet my investment objectives?
  • Will it alter my asset allocation?
  • How will this help me reach my goals?
  • Are there other choices that would help me reach my goals?
  • What will it cost me now, and in the future?
  • When can I get my money back out? What if I need it sooner or change my mind?
  • Are you receiving fees for the sale of this product? If so, how much will you be compensated?

If you are looking for a review of your portfolio contact my office 250-861-1465, email my office, or stop by my office 209-1511 Sutherland Ave.

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Financial Blog of Mike Hassard | Life Insurance Debt Investing Mutual Funds |

2 Response to "Stay Informed about Your Investments"

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Anonymous Says....

Experts have talked about this before. How many times have you read about the importance of ‘adding value’ for your audience? How many times have you read about ‘building trust’ with your readers/prospects?
Many, many times. You know it well. Every marketing guru has spoken about this topic. I’m sick of hearing it. But it STILL bears repeating.

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