take control of your financial future
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Take Control of Your Financial Future. Working with a Financial Adviser. What is the New Brunswick Securities Commission?. Crown Corporation Established in 2004 Double role. Getting started. Know where you’re going financially Know what you’re investing in - PowerPoint PPT PresentationTRANSCRIPT
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Take Control of Your Financial Future
Working with a Financial Adviser
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What is the New Brunswick Securities Commission?
Crown CorporationEstablished in 2004Double role
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Getting started
Know where you’re going financiallyKnow what you’re investing inKnow who you’re dealing withKnow where to go for help
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INVESTMENT ADVISER RELATIONSHIP
Know who you’re dealing with
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Working with a financial adviser
Assess your needsFind an adviserSchedule a meetingAsk questions
See: “Working with a Financial Adviser” in your kit.
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How to find an adviser
Ask aroundContact the NBSC to find out who is registered in your areaOther sources:– Mutual Fund Dealers Association of Canada– Investment Industry Regulatory Organization of
Canada– Investment Counsel Association of Canada.
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Schedule a meeting
Registration, Qualification, experience, trustworthy, and comfortableMake the phone callAsk questions and answer theirs
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Ask questions
Are you registered with the NBSC?What is your background?How are you paid for your services (salary, commission or flat fee)?What kinds of products and services do you offer?Who are your clients?How will your help me reach my goals?What level of service can I expect from you?
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Background Checks
Step 1- Check your adviser’s registration
Step 2 - Check for disciplinary action
Step 3 - Check the company’s history
Step 4 - Check the news
Step 5 - Check other search tools
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Making the Most of the relationship
It’s a partnershipKeep the lines of communication openAsk questionsBe honest with yourself and your adviser
See the “Investment planning worksheet” in your kit
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What an adviser can do for you
You can expect your adviser to:Make clear and specific recommendationsExplain the reasons for the recommendationsPoint out the strengths and weaknesses of opportunities and recommendationsOutline the risks involved
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What an adviser can’t do for you
Your adviser will not be able to:Predict the performance of the markets with certaintyRecommend investments that are always profitableAct on vague or general instructions to buy or sell investmentsMeet unrealistic goals or expectations of profit
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Your responsibilities as a client
Be prepared for each meetingAsk questions and take notesBe informedStay on top of your investmentsKeep your adviser up to date
See “When your broker calls – take notes” in your kit
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Do I have a complaint?
You may have a complaint if your financial adviser: is not registered to sell the investments being recommended;
takes money out of your account, or buys or sells securities with your money, without first getting your permission (unless one of the exemptions previously discussed applies)
switches you from one mutual fund to another when there is no legitimate reason;
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Dealing with Disputes (cont)
does not take reasonable care to see that your investment request is executed at the best possible price, given the market conditions at the time; or
recommends you buy or sell a security that is unsuitable based on the information gathered from you in the Know Your Client form (KYC).
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What to do if you have a problem
Start with your adviser or their firm
If you’re not satisfied…
Ask about the firm’s complain process
If that doesn’t work…
Contact the New Brunswick Securities Commission
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What the NBSC Can Do
Answer general questionsProvide registration informationProvide a history of past disciplinary actionSuggest options for pursuing your complaint Enforce compliance with securities legislationAct against market misconduct, including removing from the market those who do not comply with the law or who cheat investors.
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What the NBSC Can Do (Cont)
The NBSC cannot:undo a transaction,give advice on an investment,give legal advice, orcomment on an ongoing investigation.
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Remember:
Check RegistrationAsk QuestionsDo a Background CheckManage ExepctationsContact us:
1 866 933-2222www.nbsc-cvmnb.ca [email protected] @NBSecuritiesCom