Finding the Right Financial Advisor

A knowledgeable financial adviser can direct you on the path to wealth. Without a diploma in economics, it is difficult for you to effectively manage your cash with no trained expert's guidance.

If you are looking for the right financial advisor, then you can visit at

There are a variety of sorts of planners who will assist you to plan retirement, collect money, or escape debt. Some planners work on commission although some are fee-based. It is important to understand exactly what you need before you start to interview partners.

Retirement Plan

If you require assistance in planning a retirement program, seek a financial adviser with expertise in this region. Your planner may propose investing in bonds, stocks, or property to get sufficient money to retire comfortably.

This specialist will be able to help you have a peek at your assets, your age and projected retirement, along with your existing resources so as to think of a custom-tailored plan to satisfy your requirements.

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Retirement preparation for each individual differs. It is important to save satisfactorily on your prime earning years so as to be solvent later in life. The older you are when you begin this strategy, the more you are going to have to sock away each month to attain your objectives.

Amassing Wealth

To be able to accumulate significant wealth, you are going to need to select riskier investments than you'd otherwise. A guideline is: the greater the threat, the greater the yield. Obviously, you might also eliminate money with riskier investments.

What Losses are Possible if a Broker Files for Bankruptcy

Will Investors Face Losses if a Broker or Dealer Files Bankruptcy?

Planning is quite necessary if you are really interested in building your savings and create a healthy investment portfolio. But, it is possible that certain unexpected situations may arise and possibly derail your investment plans. As such, you need to be aware of things you will have to do to protect your interest in such situations. 
In the following sections let us look at a situation in which your investment broker/dealer has filed bankruptcy. How will such decision affect you? Is it possible that you will lose all your investments? Let us find the answers.

Broker/Dealer Filing Bankruptcy – Implications for Investors

certified financial plannerIf a situation arises where broker or dealer decides to file bankruptcy then CIPF (or Canadian Investor Protection Fund) takes required steps for transfer of your account (and all the associated assets) to some other solvent firm.
Here the main focus for CIPF is to ensure that assets are transferred successfully and all the associated expenses are paid off.
You also need to be aware of the fact that all investors are provided coverage of a minimum of $1,000,000 if a broker/dealer was holding the securities who is a member of the CIPF. In addition to it, all investors are able to avail this type of minimum coverage when they are opening an account with CIPF member dealer/broker.
In the next section let us go through details of losses that are covered or not covered by CIPF.

Coverage of Losses

Few of the losses that are covered by the CIPF include:
• Future contracts as well as commodities
• Cash balances and securities
• Insurance funds (such as the segregated ones) that are acquired or held by a CIPF member broker/dealer on your behalf.

Losses Not Covered by CIPF

You need to consult a certified financial planner to know about few of the losses that do not get coverage from CIPF. What are those losses? Let us find out.
• Losses investor faces due to the selection of wrong investments, default by the issuer or because of modification in value occurring in the securities market.
• As an investor, you are not able to file your claim with bankruptcy trustee or CIPF within the maximum allowed 180 days or from the actual date when insolvency occurred.
• Any type of securities or segregated funds which are not held by dealer or broker or if there is lack of recorded entries that states that dealer or broker was holding these securities or funds.

Two Types of Coverage

A certified financial planner can help you understand more about two basic coverage that is provided by CIPF. There are certain differences between these and our aim here will be to look at those differences.
• Consolidated Coverage: In this type of coverage the investment accounts are consolidated or combined for calculating the actual coverage you can get. Thus, if there are some investment accounts that are non-registered such as option, margin, and cash accounts then their values will be combined for calculation of coverage you can get.
• Separate Coverage: Separate coverage can be received when there are investment accounts like education savings plan, testamentary trusts or joint accounts.


Thus, right at the onset, you will have to consult a certified financial planner to be sure that you are working with a broker who is a member of CIPF and you will get needed protection from losses.