Jul 8, 2020
In this episode, Ellen Roseman talks to Dan Hallett, CFA, CFP, Vice President, Research and Principal at Highview Financial Group about fiduciary duty, how to find an advisor, mutual funds, exchange traded funds and do-it-yourself investing.
1:41 How do you think the advent of Covid 19 has affected the average investor in Canada?
3:22 Do you think that DIY investing has become more of a trend because of Covid?
6:01 There seems to be a trend in mutual funds in an RRSP. Over the past number of years the performance of mutual funds haven’t been that great. Do you think that mutual funds are somewhat on their way out?
8:41 What’s an Exchange Traded Fund and how does it differ from a mutual fund?
14:11 Investors have many questions when they are considering hiring an advisor and some investors do not understand that the advisor may not be working in their best interest.
17:58 How does fiduciary duty work in Canada?
26:41 Robo-Advisors work with the idea of a balanced portfolio. In general, they will give you a well-diversified portfolio and will continue to monitor it and rebalance. Which is maybe more than you would get from a typical person who sells mutual funds.
30:41 Have you seen changes in investor behaviour over the last 30 years? Or is it difficult for investor behaviour to change?
37:11 What are your best bedrock principles around financial management?
41:07 What are the minimum amounts that you would have to bring to a portfolio manager to become a client?