Choose wisely

How does your wealth advisor rate?

A professional wealth advisor focuses on working with you, clarifying your life needs, goals, concerns, and opportunities. They work in all parts of your life to make sure that you have the right financial strategies in place. It’s important that you understand all of your choices, and make the most appropriate, fully informed decisions. The right advisor will help you enjoy your lifestyle, help your family, provide for the future, create financial comfort, and build a legacy. So choose carefully, for your advisor truly can make a world of difference in your family’s overall life experiences and success.

But how do you know if you are working with the right advisor? Are you able to measure their advice, somehow quantify the service you receive? To help you with an objective review, the questionnaire below will guide you through exploring many facets of service and satisfaction.


Score 1 point for each ‘True’ response, zero points for each ‘False’ response.
If you are unsure as to the answer to any of the questions below, then assume it is false.
Trust Response Points
I am very confident that my advisor has my best interests at heart. Yes No
My advisor would not recommend a product or strategy which he did not understand and has not fully investigated. Yes No
If my advisor consistently underperforms the relevant benchmark, he will bring this to my attention. Yes No
Total Points
Communication Response Points
My advisor really listens to me. Yes No
My advisor has support staff that are friendly, helpful, and considerate. Yes No
My advisor talks to me in plain English, and makes it easy for me to understand what he's explaining. Yes No
My advisor never puts me under pressure to make a decision or buy a product. Yes No
My advisor is very personable - I feel that I matter, and I'm not treated as if I am just another number dealing with a 'humongous bank'. Yes No
Total Points
Experience Response Points
Has at least 10 years experience. Yes No
Has attained relevant certifications and continually increases skills with continuing education. Yes No
My advisor exhibits a high level of knowledge, and I feel confident with his decisions. Yes No
Total Points
Service Response Points
Return calls promptly, within 24 hours. Yes No
Has excellent support staff that assist me on a regular basis, but always makes himself available for me. Yes No
Suggests not only when to buy, but also when to sell. Yes No
Hosts workshops and sends informational material on a regular basis, to keep me advised of not only financial issues, but also relevant life issues. Yes No
Is proactive, and offered me a formalized 'service guarantee' that outlines expectations right from the beginning. Yes No
Total Points
Managing risk Response Points
Explains the need to protect myself against all risks including inflation and income tax. Yes No
Warns me about the amount my portfolio could be expected to fall in a bad bear market, and worst case scenario is reviewed through Investment Policy Statement on a 1, 3 & 5 year basis. Yes No
Does not try to 'beat' the market through timing and speculation, and believes that attempts to do so are not worth the additional level of fees and risk. Yes No
Does not recommend leverage to increase returns unless major criteria are met. Yes No
Total Points
Proper diversification Response Points
Has fully explained diversification and why it is very important. Yes No
Does not 'over-diversify' my portfolio with greater than eight mutual funds. Yes No
Has me properly diversified with at least 1/3 of my equities invested outside of Canada? Yes No
Total Points
Keeping it simple Response Points
Does not recommend unproven and very complicated products. Yes No
Does not recommend holding positions that amount to less than 2% of my entire portfolio. Yes No
Total Points
Products Response Points
Does not suggest frequent trading in my portfolio. Yes No
Explains the difference and offers me the option of investing with fees paid up front or by DSC (deferred sales charges). Yes No
Does not insist on buying only individual stocks or bonds. Yes No
Explains his research into investments, and his commitment to remain current on markets, economies, and investments. Yes No
Total Points
Aiming for the right rate of return Response Points
Explains that aiming for higher returns requires increased risk. Yes No
Suggests that I only take on the risk required to achieve my goals, while maintaining my comfort level. Yes No
Total Points
Fees and commissions Response Points
Clearly explains all the fees and MER's that I pay. Yes No
Has also explained what fees and commissions he earns. Yes No
Total Points
Following an investment strategy Response Points
Suggests an asset mix based on my needs and risk tolerance. Yes No
We developed a complete financial plan together, that indicates the rate of return I need to earn to achieve my goals, as well as details my investments, expenses, retirement date, and complete estate plan including Will, Power of Attorney, etc. Yes No
Has provided me with a written copy of my complete financial plan, investment policy statement, and investment strategy. Yes No
Total Points
Reviews Response Points
Outlines up front exactly how often per year we'll meet, and schedules the appropriate reviews to ensure our plan is measured, evaluated, updated, and remains on-track. Yes No
Reviews my documented investment policy statement, investment strategy, and financial plan on a regular basis to measure, and modify if required. Yes No
Regularly asks about events in my family's lives that may change my financial goals. Yes No
Total Points
Scores Recommendations Grand Total Points
35-39 This advisor does a very good job for you and your family and should be rewarded with loyalty and referrals.
29-34 You have a great advisor, and you should likely stay put.

Our Recommendation
23-28 You are dealing with a competent advisor.
17-22 Keep an eye on how things progress over time and monitor results.
11-16 Are you sure your advisor is of value to your family?
6-11 Your advisor could be doing a much better job for you.
Less than 6 Find yourself a new advisor promptly.
You can benefit from an independent evaluation of your investment portfolio. Contact today for a complimentary, no-obligation review of your portfolio and financial plan.

At DundeeWealth, we believe that having a financial plan forms the foundation necessary to grow, protect and transfer wealth from one generation to the next. We are committed to provide information on a variety of financial planning topics so our clients are able to make informed decisions. The information contained in this publication was obtained from sources believed to be reliable; however, DundeeWealth, its affiliates, directors, officers, and officers or directors of its affiliates cannot guarantee its accuracy or completeness. This publication is for informational purposes only and should not solely be relied upon. Please consult your professional tax or legal advisor for advice related to your specific situation.
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