Q&A: Considering Cashing RRSPs?
Q – As a faithful reader of your articles, I have a question about financial advisers. I have been working with the same gentleman for approximately 20 years, and have been happy with his service. Recently, he has joined another company and is now associated with Raymond James. He is now one of two senior partners, and there are two junior partners. I have met them all, very professional. One junior partner is now more attached to my file, but the senior partner I have dealt with for over 20 years is copied on everything, and makes final approval on any and all changes. I have about $750,000 invested with them.
This is the question: I live in Port Elgin and the financial services are located in Guelph. Up to last year, my senior adviser made two personal visits per year, spring and fall. Now there is resistance to do this by the junior partner: very busy, hard to schedule in my area, can I come to Guelph, can we do our review by phone, etc.
With a $750,000 investment, what is reasonable to expect in terms of personal visits to review, talk about possible changes, etc.? Thank you. – Dick V.
A – I suggest you have a phone conversation with the senior partner – the person you have dealt with for 20 years. Explain your dissatisfaction and ask what he would suggest as a compromise. Stress that you have been very happy with his service and want to continue the relationship but don’t feel comfortable with the new arrangement. See what he says and be guided from there. – G.P.
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