Why won’t Canadians pay for investment advice?


Retirement Wealth with Planner & with Retirement Plan

Great article in Globe & Mail by Rob Carrick.

The media has been heavily anti-advice for years. The focus has been mainly on low fees, rarely mentioning that the fees pay for advice or attempting to evaluate the cost/benefit of advice.

Evidence shows this has been a disaster for Canadians. The comprehensive study by CIRANO shows that people with advisors have on average 4.2 times larger portfolios. ETFs are sometimes called “Extra Tiny Funds” because ETF portfolios are almost always tiny. 🙂

The majority of advisors, unfortunately, do not do proper financial planning. They mainly just sell investments. Another study “Making a Difference” showed that people with sales-focused advisors have nearly triple the investments of DIYers. But people with planning-focused advisors have more than 4 times larger portfolios.

The keys to financial success are to focus on:

– a quality financial plan, including a retirement plan.
– getting good financial advice.

Quality financial planning has direct, huge benefits. Don’t assume you are ahead by not paying for advice.



Planning With Ed


Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax  accountant, expert in many tax & investment strategies, and a popular and passionate blogger.

Ed has a unique understanding of how to be successful financially based on extensive real-life experience, having written nearly 1,000 comprehensive personal financial plans.

The “Planning with Ed” experience is about your life, not just money. Your Financial Plan is the GPS for your life.

Get your plan! Become financially secure and free to live the life you want.


  1. Ed Rempel on July 26, 2016 at 8:26 PM

    Thanks, Joe. I’m glad you found my posts helpful.

  2. Joe on July 23, 2016 at 3:27 AM

    Great article Ed. I’ve been reading your posts for years on other platforms. I didn’t know you started your own blog. Keep up the great work.


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