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Many investors are unaware they are paying adviser fees continued from p.26 When clients suddenly discover how little advice they had been receiving for the investment fees they have been paying, many are going to be angry. Very angry, indeed. Three rms recently released survey results of 1,000 investors with investable assets in excess of $10,000. The three rms are Marketing Directions, 21st Avenue Partners and PMG Intelligences. Their research revealed almost one in three investors was unaware that they paid any fees for advice. This is consistent with other industry surveys done in the past. Just more than 40 per cent believe that the dollar amount paid for advice is either too much or way too much. And nally more than 60 per cent of investors said they had not had an appointment with their adviser in the last six to 12 months to discuss fees. In summary, the fee conversation is not part of the investor-to-adviser dialogue, a signi cant number of investors think mutual fund fees are too high and nally a signi cant number of investors are unaware they are paying adviser fees. Fasten your seatbelts because this is going to get interesting: The investment business as we know it is suddenly going to explode. The free lunch is over. All investors are going to have clear exposure to the amount of fees they are paying and will most certainly demand better and more nancial advice. The nancial services industry is in for a major change. My recommendation to investors is to clearly understand what nancial advice you should be expecting to receive from your nancial adviser. Types of advice include nancial planning, investment advice, regular portfolio rebalancing, debt reduction strategies, tax advice and estate planning. There is a chance that your current adviser is more of a "relationship person" and that their skills are better suited at managing the personal relationship. That is all well and good. However their excellent personal skills must be augmented by more technical skills and if they don't possess those skills themselves, they should introduce you to somebody else within their rm that can be of assistance with the technical details. A year from July, the rules change. Investors are going to see the amount of investment fees they pay to their adviser. The winner will be the client. They can expect and demand better nancial advice. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner 27 | Thursday, May 21, 2015 | OAKVILLE BEAVER | www.insideHALTON.com Thank You Acclaim Health Personal Support Workers! "Acclaim Health is the best thing that's happened to me. If I didn't have the help, I wouldn't be able to stay by myself." ~Acclaim Health, Personal Support Patient Leaky Basement? Call Us! · Crack Injection Repair Specialist · Wise Dry Interior Drain Systems · Lifetime Fully Transferrable Warranty · Masonry/Parging Repairs [ w w w. a c c l a i m h e a l t h . c a ] Call Us... 905-510-9739 Glen Abbey's Only Authentic british Pub! Professional, Cost Effective Solutions for Wet wayne@wisecracks.com Basements w w w. H a l t o n Wi s e C ra c k s. co m Because family matters Let us take care of you Oakview Funeral Home has been serving the Oakville community for over 30 years. We are proud community supporters and will assist your family in creating a highly personalized service to suit your taste and budget. Oakview Funeral Home serves one family at a time and offers competitive prices and superior service. ic liVe Musights n y saturda nday and su ns afternoo 481 North Service Rd. @ 4th Line Oakville 905-825-1109 Mention th is ad to get 10% off yo ur food order Visit www.abbeyarmspub.ca to see our menu Get your FREE Planning Kit! Call Dawn Spencer today: 905-842-2252 Look for us on Facebook Visit www.oakviewfuneral.ca for a virtual tour of our funeral home. by Arbor Memorial 56 Lakeshore Road, W., Oakville Arbor Memorial Inc. Oakview Funeral Home Family Owned. Proudly Canadian.