The value of wealth management advice

Understanding your needs and goals

Written by Alison Plaxin
January 17, 2017

The value of wealth management advice can be measured in several ways. The performance of your portfolio is one. Building an integrated total wealth management plan is another.

Annual returns are a straightforward way to think about value. But how do you quantify the time and resources we at The Funke Group take to understand your needs and goals?

These issues and more are addressed in a new document recently published by Scotia Wealth Management. It’s called The Value of Wealth Management Advice, which you can access in full by clicking on the following link:

The Value of Wealth Management Advice PDF

Among the highlights of the document is a section entitled Understanding your fees – see page 2 – which describes the ways in which Scotia Wealth Management is taking steps to introduce greater transparency regarding what you pay and to whom.

The purpose of this initiative, which has been embraced by the entire investment management and wealth advisory industry across Canada, is to:

  1. Create a new standard in performance reporting.
  2. Help clients fully understand the costs associated with investing.

We welcome it.

Beginning in January 2017, you will start to receive an annual report for each of your accounts, which will include a snapshot of how your account has performed, along with all associated fees.

The Funke Group has disclosed net performance measures and costs to our clients for as long as we have been in business, so we strongly believe that any initiative adding to the level of transparency relating to investment performance and fees is to be applauded.

We hope you find this Scotia Wealth Management material helpful and if you have any questions or concerns about it, please don’t hesitate to call me.

Geoff Funke, The Funke Group, 604-535-4721