Online tutorial aims to improve advisor-client relationships

(April 22, 2004) The Investor Education Fund today launched a new online tutorial aimed at helping investors work effectively with financial advisors. The program — called “How to Work With A Financial Advisor” — walks users through a number of scenarios involving different types of advisors, focusing on mutual fund sales representatives and brokers.

Although much of the tutorial is geared toward novice investors, explaining the basics of what advisors do and the various types of products and services they can offer, there’s also more detailed information.

For example, there’s a section on the risks of borrowing to invest, a piece on how brokers process buy and sell orders, as well as clues on how to spot advisors who are not doing their job properly.

The tutorial also tackles advisor qualifications, registration, how advisors get paid and the complaint process.

“Investor education research shows that professional advisors are cited as one of the top sources of investment education and have the most influence on what investors do with their money,” says Terri Williams, president of the Investor Education Fund. “It is crucial for investors to proactively build and maintain mutually beneficial relationships with their advisors.”

Advisors will be also be interested in the program, Williams adds. “It will certainly help their clients understand what they are all about and how a good client-advisor relationship is supposed to work.”

To access the online tutorial, please click here.

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For more investor education tools, visit Advisor.ca’s “Investor Tools” section or click here.

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Filed by Doug Watt, Advisor.ca, doug.watt@advisor.rogers.com