Finding a financial advisor who is right for you

September 10, 2025

There are many reasons people may put off creating a financial plan. Not having a clear vision of personal goals, feeling overwhelmed by the number of available financial options or just not knowing how to get started are common challenges that can get in the way. Finding the right financial advisor to partner with on this journey is important. An advisor can help you establish your financial goals, educate you about the products and services available, navigate the changes in your financial situation through all major life events, and help keep you on track. The right financial advisor in your corner can have a meaningful impact on your peace of mind and help you achieve financial well-being that will promote your own personal growth.

What is a financial advisor?

A financial advisor is a professional who provides their clients with personal finance expertise and informed advice in areas including savings strategies, debt management, minimizing taxation, estate planning and investment solutions. The mission of a financial advisor is to develop a relationship with each client, assess their unique financial situation, understand their financial goals and work to create a personalized plan to meet these goals. Regular scheduled check-ins are important to review progress and provide guidance to ensure clients remain on track.

The value of advice

Studies have shown that a large majority of investors believe their advisors guide them in making better financial choices which can create better returns, help them stay disciplined during market downturns and assist with improving savings habits. The value of advice becomes greater over time. Research findings have shown that households with advisor relationships achieve significant increases in financial assets the longer they partner with a financial advisor (versus households without an advisor) and believe that their advisor is worth the fee.

What to consider when selecting a financial advisor

Personality fit

Reaching your goals through all stages of your life is a commitment you make to yourself, so you want to partner with a financial advisor you can rely on for many years. Their style and approach will have an impact on how comfortable you feel about opening up about your personal financial matters, discussing your goals and accepting their advice. Having a strong personal connection builds trust and confidence that the suggested financial products and strategies match your personal goals.

Communication

Effective communication is key to the advisor-client relationship.

• Ensuring you have clear and honest communication improves the collaboration you will have with the advisor. It is more likely that you will share your financial goals and concerns openly when you feel an advisor is honest and has your best interests at the center of their recommendations.
• Financial concepts can be complex and filled with technical terminology which may make it difficult to understand the advice being given. Ensure the advisor is providing clear explanations that help you make informed decisions about your finances. If you are unclear with any part of the suggestions or information being presented, do not hesitate to ask additional questions. Having a clear understanding will help you have confidence in the strategies being recommended and the resolve to stay on track.
• There are many different financial products offered by financial institutions, each having specific guidelines that must be followed and unique features to consider. It is essential that you have open communication with an advisor to fully understand the features and benefits of the products being presented. This will help to manage expectations and build understanding of potential risks, market fluctuations and interest rate variations that can be experienced along with potential investment performance. Having in-depth knowledge of each product will help match it to your needs.
• Your financial circumstances will change over time. Regular update meetings and open dialogue with an advisor will allow for adjustments to be made to your plan as needed. This helps to ensure your plan remains relevant and aligns with your evolving needs.

Qualifications

A well-rounded financial advisor has a combination of experience, education and relevant certifications. Specific licenses are often required to sell regulated financial products such as mutual funds, stocks and bonds and insurance. Many advisors have recognized credentials such as Certified Financial Planner (CFP®) certification or Personal Financial Planner (PFP®) designation that indicate technical and professional education in areas including financial planning, investments and retirement and estate planning. Education coupled with practical experience in financial roles is beneficial to gain practical knowledge, build expertise and effective communications. The economic environment is constantly evolving, so advisors need to stay current on new regulations, financial products and market conditions.

Cost

There are several ways advisors may be compensated including receiving salaries, commissions and bonuses. At times, the cost may be a flat fee, a percentage of the assets they manage for the client, or there may be a possibility the services offered by an advisor are covered simply by being a client of the institution. The bottom line is that whatever the compensation, each client should feel they are receiving value for the cost that may be incurred, and their advisor is helping them meet their financial goals recommending a course of action to achieve financial security. Financial advisors have an obligation to disclose all fees to their clients. This provides transparency and is a requirement within the financial industry to ensure clients understand the fees they are paying for the services being provided.

Where to find a financial advisor

In Canada, registered financial advisors may be found at credit unions, banks, insurance companies and independent investment firms. Your selection will depend on the financial advice you need. To help make your decisions ask questions such as:

• What products, services and advice are available from your institution?
• What products are you licensed to sell?
• What is your financial experience?
• How will you help me reach my financial goals?

In all cases it is important to get to know the financial advisor before partnering with them. This will assist you in finding a financial advisor who is knowledgeable and has the expertise and credentials to help support your financial needs and provide guidance to reach your goals.

FirstOntario Credit Union in partnership with Aviso Wealth has an experienced team of advisors specializing in various areas of wealth management including retirement planning, investment management, estate and succession planning, individual financial risk management and more. These professionals are here to help you plan for the future and reach your financial goals. Visit FirstOntario.com/Investments or call 1-800-616-8878 ext. 1700 to connect with a FirstOntario advisor and start growing your wealth today – your way.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. The information contained in this report was obtained from sources believed to be reliable; however, we cannot guarantee that it is accurate or complete. This should be considered as a general source of information and should not be considered personal investment advice or a solicitation to buy or sell any mutual funds. The views expressed are those of the writer and not necessarily those of Aviso Wealth.