Exponent Investment Management of retirement planning help, investment guidance or advice to manage your financial risk, you can find a certified financial advisor in Montreal with WelcomeSpaces. But there’s a difference between financial planners and financial advisors, and it’s important to understand that distinction before you decide to work with one.

A financial planner can help you create a plan for your long-term savings goals, such as preparing for retirement or buying a house. They also offer services like estate planning and tips on how to save money on taxes. But a financial advisor can be anyone from a bank employee to a stock broker or insurance agent, and it’s up to you to figure out who you can trust.

Maximizing Your Financial Potential: Selecting an Advisor in Montreal

The main thing to consider when choosing an advisor is how they’re paid. If they’re a fiduciary, they are legally obligated to prioritize your interests over their own, while non-fiduciary advisors can still make recommendations that benefit them. And there are different ways they can get paid—either through flat fees, commissions or mutual fund management fees (MERs).

Most Canadians choose to hire an investment adviser—also known as a securities adviser, portfolio manager or wealth advisor—to handle their money. They have to register as investment advisers at the national level and with their provincial or territorial securities commissions, and pass specific exams. You can check an advisor’s registration on the National Registration Search. You can also ask to see their license, which should be posted in their office or available on their website.