Advisor-review checks.
The goal is not to assume a move. The goal is to know whether staying, asking better questions, or transferring is safer.
| Decision | What to check first |
|---|---|
| Stay | Service expectations can be clarified and the portfolio purpose is still explainable. |
| Ask better questions | Fees, tax records, product terms, or service level are unclear but fixable. |
| Review transfer path | Costs, taxes, missing ACB, product terms, or insurance disruption need analysis first. |
Choosing an advisor should not be a popularity contest or a race to sign transfer forms. The useful comparison is practical: scope, credentials, registration, costs, service rhythm, tax awareness, and what happens after the first meeting.
Key takeaways
- Ask how the advisor is registered and licensed.
- Ask what services are actually included.
- Ask how costs and compensation are explained.
- Ask what tax or transfer issues could appear before accounts move.
Who this applies to
Use this when the advisor question has moved from vague discomfort to a real comparison of fit, fees, service, and paperwork. The details may involve fit, fees, service rhythm, transfer friction, and the useful answer often depends on the documents behind the question.
If the matter is urgent, legal, tax-filing specific, investment-trade specific, or account-instruction specific, start with the right professional or institution instead of relying on a public article.
The planning issue
- Ask how the advisor is registered and licensed.
- Ask what services are actually included.
- Ask how costs and compensation are explained.
- Ask what tax or transfer issues could appear before accounts move.
An advisor comparison should turn a broad search into consistent questions about credentials, registration, service scope, costs, tax awareness, and what happens after the first meeting.
Example Ontario scenario
A London household has three options: stay with the current advisor, move to a new firm, or pause and organize documents first. The decision becomes easier when each advisor answers the same questions.
The first comparison would ask each advisor the same questions, then separate what is clear, what is vague, and what documents are needed before any transfer discussion.
Documents to gather
- Current account statements
- Cost reports, Fund Facts, or fee disclosure documents
- Recent tax slips and realized gain/loss reports
- Insurance policy summaries
- Any plan, proposal, or service agreement from the current advisor
Keep sensitive documents out of public notes and ordinary email until the office confirms the secure route.
Red flags to slow down for
- Comparing advisors only by public rating, brand name, or location
- Leaving credentials, registration, service scope, or compensation vague
- Not asking what happens after the first meeting or plan
- Starting paperwork before tax records, product terms, and costs are clear
Questions that change the next step
- What decision is actually being made, and what can wait?
- Which facts would change the answer?
- What costs, taxes, fees, or paperwork could appear if action is taken now?
- Who else needs to be involved before anything permanent changes?
- What would a clean next step look like after the first conversation?
Professional boundaries to keep clear
- Current advisor or institution
- Potential new advisor
- Accountant for taxable accounts
- Insurance professional if policies are involved
- Lawyer if estate documents or authority are involved
Sources checked
- FCAC: Choosing a financial advisor
- FSRA: Check Credentials Tool
- CSA: National Registration Search
- CIRO: Transferring accounts between firms
Related Stiller pages
- Advisor Review Scorecard
- Downloads
- Fees and Compensation
- Investment Review & Portfolio Planning
- Changing Financial Advisors
Article-specific next step
Score the unclear parts before paperwork starts. If this topic connects to your situation, use the Advisor Review Scorecard or review the Advisor Review Scorecard page before booking a first call.
