| Franklin Templeton Quotential Program?? |
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Mavito
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 13 Jul 2011
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| Franklin Templeton Quotential Program?? |
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I know little about investing although am interested and am trying to learn more about ETF's and dividend paying stocks. I have a large amount of money/RRSP's (over 900K) that my new financial advisor put all into the Quotential program last year.
I just realised from reading my statements that I am paying 2.4% fees and know this is high but don't really know what else I should invest in. I don't really want to do a lot of work myself but am unsure of what I should say to my advisor when I meet with him tomorrow. As I am inexperienced, should I just stay with the Quotential funds??
Thanks for any advice.
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Wed Jul 13, 2011 8:11 pm |
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coaster
Senior Advisor
Cash: $ 1357.20
Posts: 6683
Joined: 11 Oct 2005
Location: Wisconsin
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You "just realized" you're paying fees?
I'd say there might be some possibility of lapses on the part of your advisor. I question why you'd not fully understand the fees and costs of the investments your advisor is putting you into. There seems to be some lack of communication here. Lack of communication between advisor and client is a bad sign; perhaps that inadequate suitability testing was done; perhaps that he doesn't understand your goals and objectives; and worst-case scenario that he's got only his own net worth in mind and is putting you into things that generate fat commissions. I suggest you give him the benefit of the doubt but do get this straightened out pronto. If there seems to be some obfuscation, foot-dragging, or weak explanations forthcoming, you'd best go to his superior/principal and discuss what your questions are. DO NOT agree to anything, but don't threaten anything, either. It's too soon and too little information to reach any conclusions. Hopefully all will be well.
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Thu Jul 14, 2011 7:25 am |
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