Globe and Mail
February 2, 2023.
What does an investment adviser do?
You are not alone if a list of similar-sounding fancy accreditations – investment manager, financial consultant, financial planner, stockbroker and money manager, to name just a few – have you a bit muddled as to who exactly does what with your money. Individuals can use one or many of these designations, assuming they have all the proper credentials.
At its most basic, while a stockbroker deals mainly in stock market investments, an investment adviser gives advice about a wide range of investments (including stocks, bonds, exchange-traded funds, mutual funds, etc.), while taking a broad look at your finances and your personal circumstances. “This includes working with you to set investment goals, to understand your risk tolerance, build an investment plan, and then design a portfolio, choose suitable investments, and track your progress – adjusting it all as your life and needs change,” Ms. Kelemen says.
Alexandra Horwood, portfolio manager and investment adviser at Richardson Wealth Ltd., calls this holistic wealth management. It’s not just about investments “but all of my client’s finances,” she says. Before she provides any investment advice, Ms. Horwood gathers all the financial information that relates to her client’s financial health and well-being. This includes but isn’t limited to income, insurance, tax returns and charitable donations.
