Which Financial Professional Will Advise Best for an Inheritance

[anisa]

I'm really not savvy in respect to investment accounts and strategies.
I have never had any money to invest.

I will be inheriting some money, and am not sure what type of financial professional would advise me best.
My bank? An Accountant? An Investment Broker?

I am totally lost. I just want to put money aside for future security, and to have some extra income from investments to boost my daily spending ability.
I am not interested in high risk investments.

Thanks!

[lizzie bargain]

I would go with a fee for service financial advisor-in other words somebody who does not make money off what they sell you. Better to pay a set fee or percentage to get advice in your best interests. If you are like most people you may have room in your TFSA and RRSP to consider contributing to-these can be as high or low risk as you choose. Good luck.

[anisa]

Thanks Lizzie

I would go with a fee for service financial advisor-in other words somebody who does not make money off what they sell you. Better to pay a set fee or percentage to get advice in your best interests. If you are like most people you may have room in your TFSA and RRSP to consider contributing to-these can be as high or low risk as you choose. Good luck.

[GoodBoy]

Totally agree. The best thing I did was connect with my For Fee advisor. She and her team have been a godsend. Happy to recommend if you want. Her fees come from a percentage of the amount invested. Not what is sold to you. If value goes up, their fee increases proportionally. If value goes down, so does their fee. Stay away from banks. Stories all the time of bad advise. They only sell.

[anisa]

Thanks guys for the feedback

[anisa]

I may not be in your area.
Are you with an independent advisor, or are they part of a national chain?

Totally agree. The best thing I did was connect with my For Fee advisor. She and her team have been a godsend. Happy to recommend if you want. Her fees come from a percentage of the amount invested. Not what is sold to you. If value goes up, their fee increases proportionally. If value goes down, so does their fee. Stay away from banks. Stories all the time of bad advise. They only sell.