3 Questions to Help You Find the Right Financial Advisor

By MD Financial Management

For many investors, the relationship with your financial advisor may be one of your longest partnerships. That’s why it’s essential to find a good partner – someone you can trust and who understands your specific financial needs and goals.

The answers to these three key questions will help you decide which financial institution and advisor to choose: 

1. How will you focus on me?

Every investor has different financial requirements; some are immediate, such as finding the funds to buy a car or a house; others are long-term, such as saving for retirement. Choose an advisor who listens, understands your needs, and builds a financial plan just for you. The plan should also be flexible enough to accommodate your needs as they evolve.

2. What services do you offer?

Having access to a team of experts through your advisor is important. Look for an advisor who can help guide you to the right professional advice, for example, identifying the best tax and insurance specialists, who can assist you in making important decisions within these complex areas.

3. How do you charge for your services?

Ask how your advisor is being compensated for the advice they offer so that you can be sure that you are getting objective financial advice.

By the numbers

100% of MD’s Senior Financial Consultants have the CERTIFIED FINANCIAL PLANNER® (CFP) designation

More than $39 billion in assets under administration

MD’s fees are more than 30% lower than the industry average²

Building a trusted relationship with your advisor is crucial. You should be able to speak openly and honestly about your financial concerns and expectations. A good advisor provides consistent support to help you make sound financial decisions throughout your career and life. 

For more than 45 years, MD Financial Management (MD) has established a legacy of trust with physician clients and their families. Physicians like Dr. Jasmeet Chawla, Internist and Nephrologist and Dr. Raman Chawla, Internal Medicine Specialist, agree. Dr. Jasmeet Chawla became an MD client when he was a teenager, having learned the importance of saving and investing from his parents, who were also MD clients. “We both trust the integrity of MD, and know our investments are being managed in a trustworthy and honest manner”, says Dr. Chawla. “We feel very secure with MD. We trust them with our future, and our children’s future.”

Owned by the Canadian Medical Association (CMA), MD is the only wealth management firm in Canada dedicated solely to serving physician clients. More than 100,000 Canadian physicians and their families trust MD to help them with their financial decisions throughout their careers and lives. MD’s experience in financial advice and wealth management for physicians is unparalleled in the investment and financial services sector in Canada.  

MD advisors work on salary, not commission – a factor that sets MD apart. Without incentives to sell products, advisors are able to provide objective advice for every stage of a physician’s life and career – from medical school and residency to starting a practice, through to retirement. 

Access to a cross-functional team of financial experts is an essential element for financial planning. For CMA members and MD clients, MD ExO® – your Expert Office – is an exclusive benefit. MD ExO is a collaboration among financial advisors and specialists in the areas of financial planning, investments, insurance, taxes, estate and trust, banking and borrowing and medical practice incorporation. Family physicians and long-time MD clients, Dr. David Burt and Dr. Judy Chow, have benefited from MD’s integrated financial approach throughout their careers. “MD has a broad range of services under one umbrella, so you don’t have to go around to different places,” says Dr. Chow. “We believe that MD knows what’s going on with all of our finances. Everything is inter-related – from insurance to investments, everything affects each other.”

MD is dedicated to helping Canadian physicians achieve financial well-being by delivering personalized and objective financial advice. It’s why four times more physicians trust MD¹.  

Contact an MD Advisor to discuss your financial planning and investment needs. Call 1 800 267 2332 or visit md.cma.ca/invest. If you are interested in joining MD’s team of professionals, visit md.cma.ca/careers

¹ Fifty-three per cent of Canadian Medical Association members chose MD as their primary financial services firm, with the closest competitor at 12%. Source: MD Financial Management Loyalty Survey, June 2015.

² MD compared the management expense ratio (MER) for MD mutual funds and Precision Portfolios™ with the average mutual fund MERs for comparable funds, using data from Investor Economics as of June 30, 2015.

The information contained in this document is not intended to offer foreign or domestic taxation, legal, accounting or similar professional advice, nor is it intended to replace the advice of independent tax, accounting or legal professionals. Incorporation guidance is limited to asset allocation and integrating corporate entities into financial plans and wealth strategies. Any tax-related information is applicable to Canadian residents only and is in accordance with current Canadian tax law including judicial and administrative interpretation. The information and strategies presented here may not be suitable for U.S. persons (citizens, residents or green card holders) or non-residents of Canada, or for situations involving such individuals. Employees of the MD Group of Companies are not authorized to make any determination of a client’s U.S. status or tax filing obligations, whether foreign or domestic. The MD ExO® service provides financial products and guidance to clients, delivered through the MD Group of Companies (MD Financial Management Inc., MD Management Limited, MD Private Trust Company, MD Life Insurance Company and MD Insurance Agency Limited). For a detailed list of these companies, visit md.cma.ca. MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. MD Financial Management Inc. is owned by the Canadian Medical Association.