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Frequently Asked Questions
We have completely different business and investment philosophies.
Advisors at big bank brokerage (BBB) firms are subject to many conflicting incentives that often pit their employer’s profits against their customers’ financial well-being. If they don’t consistently meet certain quotas or points, it affects their bonuses, performance reviews and even continued employment.
BBBs also use “payout grids” that give higher payouts to those who push in-house bank products, new issues, and other bank services. Even if your broker is compensated by fees instead of commissions, he or she may be incentivized to only pick stocks from the bank’s proprietary focus list (with a focus that may differ from yours).
BBBs do not follow an evidence-based investing approach. Instead, they emphasize stock-picking, market-timing and similar ill-conceived recommendations that increase transactional fees.
Getting investments and planning off your plate and into the hands of someone you can trust is a big deal.
Most of my clients understand investing but want to delegate to someone who is an expert in the technical aspects of investment managing and planning. They want to rest easy knowing I am watching vigilantly over and protecting their wealth – ensuring that the plan we’ve designed is being fully executed.
Behavioural management services provide huge value to my clients, too. For example, when the market bottomed out in early 2009, I had clients who wanted to sell $1m in stocks. Big market dips are certainly scary – but selling at the low point often guarantees large losses. When I talked it through with them, they relaxed and agreed to stay the course. So far, that one recommendation saved them over $2.6 million dollars.
I have a formal succession plan in place with my colleagues at Polaris Financial to ensure that you will remain in good hands.
Remember, your money is held by one of my trusted third-party custodians – National Bank Independent Network (NBIN) or BBS Virtual Brokers (BBS) – not Lowrie Financial.
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