The value of wealth management advice

What's the price of peace of mind?

January 26, 2017

The value of wealth management advice can be measured in several ways. The performance of your portfolio is one. Building a comprehensive 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 Cooper Schneider Financial take to understand your needs and goals?

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

Cooper Schneider Financial – CRM2 Overview

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.

Cooper Schneider Financial has disclosed net performance measures and costs to our clients for a long time, so we believe that any initiative adding to the level of transparency relating to investment performance and fees is all to the good.

We hope you find this Scotia Wealth Management material helpful and, needless to say, if you have any questions or concerns about it, please don’t hesitate to call Daryl Cooper, Portfolio Manager, Cooper Schneider Financial, at 306.343.3255.