Investment Advisors provide a full range of investment services to customers ranging from investment planning, portfolio strategy, and estate planning. The largest practices are owned by the major banks including BMO Nesbitt Burns, CIBC Wood Gundy, and RBC Wealth Management, but there are also independent companies offering service. The relationship between the Investment Advisor and the customer can range from advice and support to a full service model where the Investment Advisor takes direct responsibility for all investment decisions on behalf of the customer. Investment Advisors are sometimes called Wealth Managers too but since other Financial Advisors can provide Wealth Management Services, we use the term Investment Advisor to avoid confusion.
Since Investment Advisors trade in securities, they are required to pass the Canadian Securities Course (CSC). In addition, they are required to complete the
Conduct and Practices Handbook Course (CPH), plus the 90-day Investment Advisor Training Course (IAT). Within 30 months of approval for registration, IAs must also complete CSI's Wealth Management Essentials Course (WME).
Investment Advisors must meet continuing education (CE) requirements throughout their careers to maintain registration. Many choose to complete CSI's Derivatives Market Specialist Program or the Canadian Insurance Course (CIC), allowing them to apply for additional licensing to deal in options, futures or life insurance, and offer broader services to clients.
Investment Advisors normally operate on commission or fees generated from client assets under administration. Many Investment Advisors work with their customers for decades, helping them navigate through all the major phases of their lives. An Investment Advisor is a good choice for you if you have significant investable assets (at least $100,000) and are looking for professional management. Click <here> to get connected with an experienced Investment Advisor.