Don’t let Performance be the Sole Determinant

By: Paul Brent | The Globe & Mail | February 23, 2010

Read More, and see what Scott Plaskett says about not letting performance be the sole determinant.

Investors should examine the frequency and clarity of communications that they are getting. Chemistry, energy and trust also matter.

If you are casting angry looks at your portfolio and seriously considering dumping your financial adviser this RRSP season, think back on the advice that money experts were giving a year ago when markets were nearing the bottom of a scary descent: Don’t be too hasty.

“Don’t let performance be the sole determinant,” advises John De Goey, an investment adviser and vice-president with Burgeonvest Bick Securities Ltd. of Toronto. Mr. De Goey is a long-time critic of the commission-based adviser model and its inherent conflicts and has drawn the ire of many in his business after publishing two books on the subject…

not letting performance be the sole determinant