This web site is dedicated to investment fund investor education and protection. The multi-billion fund industry plays a key role in the savings and retirement plans of millions of Canadians. Many industry practices provide beartraps for the unsuspecting investor and securities regulations have not kept up with the pace of change in the industry.
Saturday, March 14, 2020
ALERT: Things to do and not do in the COVID-19 investing environment
your KYC profile especially risk capacity/tolerance ;time horizon; objectives
being sold mutual funds based on the Fund Facts Risk rating –these ratings are
let yourself be sold DSC mutual funds- liquidity essential in turbulent times
“advisor” recommendations to borrow for investing
an emergency fund or add to it if you have one
loan money to your “ advisor “
effect any transactions on the side with your “ advisor”
at least twice before being sold a “ hot” IPO
equity crowdfunding at your own risk and peril
lower fees for advice and seek out lower cost products that meet your needs
internal bank “ ombudsman “ ; escalate complaint directly to OBSI
away from “Free lunch” educational seminars -can be bad for your financial and physical health
your “advisor” is influenced by biased dealer compensaion ; do not assume
she/he has your Best interests at heart- be constructively critical
your Account statement for unusual transactions -respond immediately to any
transactions you do not understand or do not agree with.
a Trusted Contact Person with your financial institution.
you have a Power of Attorney in place in case you are ill for an extended
period of time
last but not least , have an up-to-date will just in case the worst happens.
Please forward to family,
friends, and colleagues.