It’s the new year and time for me to have a good rant. I’ve been to many meetings with investment advisors over the last couple of years. Many of the advisors were very good and provided sound advice to their clients.

Unfortunately, too many were average. The advice they provided was of the cookie cutter variety. There was nothing tailored to the specific client. The same shares in the portfolio, the same split of equities/fixed income, too high a percentage of Canadian equities, etc.

What really disappoints me are the fees charged on fixed income investments. The fees were the same for managing fixed income and equities. In a low interest environment, they’re producing, at best, 3% for their clients, before fees.

I’ve written before that there are alternative investments, which are secure and provide a better return. If you’re ultra conservative, you might even get a better return from GIC’s, as there are no fees. Consider running the fixed income portion of your portfolio yourself.

Now I feel much better. Happy new year and all the best for 2020!