Note: The MoneySense Find a Qualified Advisor tool is a paid advisor service in partnership with the Financial Planning Association of Canada. Members of the association must be CFP, RFP, F.Pl or QAFP accredited.
What is the difference between the types of advisors listed in the tool?
The Find a Qualified Mentor tool allows you to search for mentors by name Qualifications, Location, Services, Special again Payment Model.
A note on location: You’ve probably already tried searching for “financial advisor near me” or something similar. Many counselors now offer services virtually, so you don’t really need to find a counselor in your city or town.
The advisors listed in our tool offer different services and have different expertise, and have different types of financial planning interpretations. In addition, they charge or get paid for their services in several ways. Here’s how to understand these criteria:
Services
Consultants in our directory can provide some or all of the following services:
- Financial planning: These advisors can assess your current and future financial situations and provide a comprehensive financial plan with recommendations to improve your situation while taking into account your goals and values. A financial plan can also be focused on a specific goal or situation, such as planning for post-secondary financial aid, paying off debts, financial planning as part of a separation or divorce, risk management or retirement, to name just a few examples. See below for a list of different financial planning symbols.
- Investment planning and implementation: These advisors can provide specific investment recommendations and apply them to your investments. In order to provide investment planning and implementation services, the adviser must be licensed by the investment regulatory body in all states and territories where he provides services, and must manage funds through an investment dealership.
- Planning and using insurance: These advisors can provide specific insurance recommendations and use them to sell you insurance products. In order to provide insurance application services, an advisor must be licensed by the insurance regulatory body in all states and territories where they provide services.
- Implementation of mortgage/lending: These advisors can provide specific mortgage and loan recommendations and use them for personal loan planning, long term loans, consolidation loans and other types of loans. In order to provide mortgages, these counselors must be licensed as real estate brokers or mortgage agents in all states and territories where they provide services.
Special
Advisors in our directory may specialize in specific types of advice or services—such as cross-border or international financial planning, socially responsible investing, business succession planning or retirement income planning.
Qualifications
The advisors in our directory are all members of the Financial Planning Association of Canada. In accordance with FPAC membership requirements, all have one of the following financial planning designations:
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