After moving to Canada, you may have realized that Canadians talk a lot about investments, which may not have been the most popular topic in your own home country. You also may have noticed that many Canadians do invest, and not only in their retirement funds. When it comes to setting some money aside, where better than in Canada, the land where you can make a lot to begin with. However, simply setting it aside will make it depreciate in value, and investing in the wrong funds may make you lose all your money. 

This situation is best left in the hands of one of the best financial advisors in Toronto. When it comes to financial planning, financial advisors beat the public 99% of the time and can take over your day-to-day financial planning, retirement planning, and even investment options. Over time, they can help you improve on your existing financial plan, and increase your net worth, and their wealth management tactics can help you reach your financial goals faster. 

For this reason, we took a critical look at the financial planning scene in Toronto, and we have decided to compile a list of the best financial advisors in Toronto. When it comes to getting a comprehensive financial plan, tax planning, reaching your financial goals faster, and even joining an investment management firm, there is no better place to start than here. However, you will need to understand your specific financial situation and seek what you would consider the best investment company among a multitude of financial planners. How to do that? Let’s read on. 

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List of Top Financial Advisors in Toronto

As we’ve said before, there are many financial planners and advisors working in Toronto. Most of them are certified, and many can offer really good advice on financial planning. However, it is important to understand that what may look like sound independent financial advice to you may not always be that, and for this reason, it is important to consider several factors, discussed below, when choosing one among many large financial institutions to entrust your hard-earned money with. Here are the top ten financial advisors in Toronto that you should consider: 

  • Ascendant Financial Inc
  • Blair Franklin Capital Partners
  • Buxton Financial
  • Edward Jones – Financial Advisor: Ryan M. Henderson
  • Financial Services Commission of Ontario
  • Frontwater Capital Inc.
  • Kerr Financial Group
  • Kurt Rosentreter Financial Advisor and Wealth Management
  • Objective Financial Partners Inc
  • Sun Life Financial One University Avenue

Ascendant Financial Inc

Ascendant Financial Inc. is an MGA agency – a Managing General Life Insurance Agency. The agency works in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland, and New Brunswick. The agency was founded in 2008 and it has a unique approach to banking called the infinite banking concept. 

Blair Franklin Capital Partners

This is a leading Canadian independent investment bank. They offer a range of services and advising for companies, mergers and acquisitions, advisory services to companies and the public and they also work with institutions on different levels. When it comes to their experience, they truly are one of the biggest such companies in Canada, with over CAD300 Billion of advisory programs’ worth. 

  • Services Provided: Mergers & Acquisitions, Board Advisory, Strategic Advisory 
  • Phone: +1 416-368-1211
  • Address: 22 Adelaide St W Suite 2430, Toronto, ON M5H 4E3
  • Email: info@blairfranklin.com
  • Website: https://www.blairfranklin.com/
  • Work Hours: MON-FRI 8:30 AM-5 PM 

Buxton Financial 

The founder, William Buxton, began his career in finance in 1984. Since then, he has managed to get into the Equitable Hall of Fame, a prestigious award. He founded Buxton Financial Services in 2008. The company manages CAD35 million in assets. He has an Investment Company Products/Variable Contracts Representative Examination license and a Uniform Securities Agent State Law Examination passed. On top of this, he is registered in DC, VA, MD, WV, DE, NY, NJ, and FL. 

  • Services Provided: 401(k) Planning, 403(b) Planning, 529 College Savings Plans, Coverdell IRA, Defined Benefits/Cash Balance Plans, Disability Income, Fixed Annuities, Fixed Index Annuities, Fixed Index Universal Life Insurance, Group 529 College Savings Plans, Group Disability Income, Group Life Insurance, Group Long Term Care, Health Insurance, Individual Long Term Care, Living Wills, Medicare Supplements, Mutual Funds, Pension Planning, Profit Sharing, Roth IRA, Second-to-die Life Insurance, SEP IRA, Simple IRA, Single Premium Life Insurance, Small Business Solutions, Social Security Income Strategies, Term Life Insurance, Traditional IRA, Universal Life Insurance, Variable Annuities, Variable Universal Life, Whole Life Insurance 
  • Phone: +1 416-628-4502
  • Address: 150 King St W #232, Toronto, ON M5H 1J9 
  • Email: Contact Page
  • Website: https://www.buxtonfinancialservices.com/
  • Work Hours: MON-THU 8:30 AM-6 PM, FRI8:30AM-5 PM

Edward Jones – Financial Advisor: Ryan M. Henderson

Edward Jones has come up with his own process of establishing personalized financial strategies and plans which should ensure that you get to grow your wealth. Most of his clients are individual investors, and unlike the previous two which can help your private business grow, this company has established itself as one of the leading financial advisors in Canada in the residential or private sector. Edward Jones focuses on charitable giving, retirement income strategies, retirement savings strategies, estate and legacy strategies, intergenerational planning, and socially conscious investing. 

  • Services Provided: Annuities, Brokerage Accounts, Business Insurance, Business Owner Plans at a Glance, Cash and Credit, Client Consultation Group, Client Resource Centre, Edward Jones Guided Portfolios, Edward Jones Investment Insight Newsletter, Edward Jones Portfolio Program, Exchange-traded funds, Fixed-Income Investments, Group Plans / Taking Care of Employees, Helping You and Your Business, Insurance and Annuities, Investment Products, Living Benefits Insurance, Mutual Funds, Registered Education Savings Plan, Retirement Accounts, Solutions for Business Owners, Stocks, Tax-Free Savings Account, Wealth Strategies 
  • Phone: +1 416-485-5484 
  • Address: 150 York Street, Suite 912, Toronto, ON M5H 3S5 
  • Email: Contact Form
  • Website: https://www.edwardjones.ca/ca-en/financial-advisor/ryan-henderson
  • Work Hours: MON-FRI – by appointment only 

Financial Services Commission of Ontario

The Financial Services Commission of Ontario has been taken over by the Financial Services Regulatory Authority of Ontario, which now acts as the main government-based advisory and regulatory body. Although they may not be the best in offering personalized advice, we believe that personal financial literacy is the key, and a body as large as this has ample resources for all who would like to handle their own investments and for all who are just starting their savings/investment journey. 

  • Services Provided: Auto Insurance Advising, Mortgage Advising, Pension Advising, Advising on Loans and Trusts, Private Financial Advising, Financial Planners, and Investment Advising (all carried out through the FSRAO) 
  • Phone: +1 416-250-7250
  • Address: 5160 Yonge St 16e étage, Toronto, ON M2N 6L,
  • Email: Contact Page (the FSCO is decommissioned, so contact the FSRAO)
  • Website: http://www.fsco.gov.on.ca/en
  • Work Hours: MON-FRI 8 AM-5 PM 

Frontwater Capital Inc.

Frontwater Capital was established in 2009. So far, the company has worked with many professionals, executives, and business owners to help them manage their wealth and increase their financial security. The company is proud to have established long-term cooperation with many of their existing, high-profile clients and they offer risk management strategies that have helped many survive much financial hardship. The company works in Toronto and Calgary. 

  • Services Provided: Financial Advisors and Wealth Management 
  • Phone: +1 416-903-9195
  • Address: 1920 Yonge Street, Suite #200, Toronto Ontario M4S 3E2
  • Email: invest@frontwater.ca
  • Website: https://www.frontwater.ca/
  • Work Hours: MON-FRI 8 AM-6 PM, SAT 9 AM-12 AM

Kerr Financial Group

Kerr Financial Group offers fee-only personal wealth management for public customers. When it comes to their services, they include managing family wealth and they provide new insights into family financial management. Financial planning and investment strategies for young families. They are one of the best such companies in Toronto and they offer robust services and comprehensive solutions for your investment needs. 

  • Services Provided: Estate Settlement, Investment Management, Accounting and Tax Advisory, Personal Financial Planning
  • Phone: +1 416-364-9447
  • Address: 150 York St, Toronto, ON M5H 3S5
  • Email: Contact Page
  • Website: https://kerrfinancial.ca/
  • Work Hours: MON-FRI 8:30 AM-5:30 PM

Kurt Rosentreter Financial Advisor and Wealth Management

Kurt Rosentreter Financial Advisor and Wealth Management offers personal CFO (Chief Financial Advisor) services to the public. They provide integrated financial planning and professional advice in many different areas of finance. Still, they are most renowned for their personal finance solutions, which are comprehensive and effective. 

  • Services Provided: Financial Planning Services, Insurance Planning, Investment Advisory, Career Transition Planning, Divorce Financial Planning 
  • Phone: +1 416-628-5761 ext. 0
  • Address: 2848 Bloor St W, Etobicoke, ON M8X 1A9
  • Email: Contact Page
  • Website: https://kurtismycfo.com/
  • Work Hours: MON-FRI 8:30 AM-5:30 PM

Objective Financial Partners Inc

Objective Financial Partners offers a variety of services to all clients. Their clients’ net worth ranges from those that still need to establish their capital to multi-millionaires. The company offers no products, but strict financial planning and advising. They also offer tax advice, even to those living and working outside of Ontario. 

  • Services Provided: Financial Planning, Retirement Planning, Investment Advice For Canadian Expats, Investment Planning, Tax Planning, Tax Preparation, Money Coaching, Financial Planning For Seniors, Family Financial Planning, Financial Consulting, Personal Financial Audit, Employee Financial Wellness, Paraplanning, Outsourced Financial Planning, Other Financial Services 
  • Phone: +1 416-691-8471
  • Address: East Tower, 675 Cochrane Dr 6th floor, Markham, ON L3R 0B8
  • Email: Contact Page
  • Website: https://objectivefinancialpartners.com/
  • Work Hours: MON-FRI 9 AM-5 PM

Sun Life Financial One University Avenue

Sun Life Financial is one of the oldest financial institutions in Canada, with a history spanning more than 150 years. When it comes to the company itself, solid financial ratings and the sheer number of its clients speak for themselves. The company invests in sustainability measures and works on creating better lives for the community. 

  • Services Provided: Annuity calculator, Annuity products, Business owner insurance, Changing employer, Critical illness insurance, Critical illness insurance calculator, Dental insurance, Disability insurance, Find a healthcare provider, Find an advisor, Fitness and family health, Get a quote, GIC, Group Benefits, Group investments, Health insurance, Investing basics, Life insurance, Long term care insurance, Managing your money, Mental wellness, Mortgage protection insurance, Mutual funds, Permanent life insurance, Personal health insurance, Preventing and treating illness, RESP, RRIF, RRSP, Saving for retirement, Segregated funds, TFSA, Travel insurance
  • Phone: +1 416-366-8771
  • Address: 1 University Ave #201, Toronto, ON M5J 2P1
  • Email: Contact Page
  • Website: https://advisor.sunlife.ca/one.university/about
  • Work Hours: MON-FRI 8:30 AM-5 PM

Take A Look At How one Sun Life Advisor Can Help Make a Difference:

Factors to Consider in How to Choose a Financial Advisor

Of course, when choosing your financial planner, it is important to follow several factors to help you see who the best financial planner is for your particular needs. Simply choosing one of the best financial advisors in Toronto may not do it, as every financial planner has their own retirement planning options and financial goals for their clients. At the same time, financial planners may have very different approaches to both risk management and handling your money, so you may want to check again to see if you are OK with their particular approach. 

When it comes to choosing the best among all the financial advisors, it is important to only consider certified financial planners. YouTubers and similar ‘experts’ have already done a lot of harm to many, and following bubble trends of cryptocurrencies and NFTs has brought many families to the verge of bankruptcy. To avoid all of these, it is important to recognize that financial security lies in the old but proven methods of money handling, which are likely the best financial goals that you will ever be able to make. 

Now, let’s go and have a closer look at some of the most important factors to consider when moving toward financial success in Canada: 

  • The qualifications and certifications of the financial advisors you would like to work with
  • The experience of the head financial planner/advisor in the company and their expertise – looking into their previous work positions, jobs, and their performance there could be a good indicator of how they will perform here 
  • The services offered – the famous proverb that a Jack of all trades is a master of none continues to say ‘but he is still better than a master of none’ – with this in mind, you should choose companies that offer varied, but balanced financial advice and services 
  • Fee structure – when you first start investing, you may see that financial advisors will charge fees and percentages. Have a good look here, and optimize your investment cycles and consultations accordingly 
  • Client reviews and testimonials – an absolute must in the digital world

Qualifications and Certifications

The qualifications and certifications of your financial planner should be one of the first things that you should consider when looking into how well the advisors you would work with handle the funds you entrust them. In Canada, not everyone can pose as a financial advisor and offer a comprehensive financial plan. They need accreditation and at least some form of education in the field to be able to do the job. 

Unfortunately, in the era of ‘Rich Dad, Poor Dad’, everyone is a finance expert, but they simply fail to acknowledge that some of the companies of the author of the best-seller have gone bankrupt. In fact, Internet gurus and YouTubers are not there to offer advice – if they knew better, they would be investing more, rather than monetizing their channels full of populist advice. For this reason, and to save your finances, always seek an accredited investment advisor and make sure that you discuss your financial goals with them. 

Experience and Expertise

The next thing to pay attention to is the experience and the expertise that they may offer. Very few companies make it to their tenth birthday, so it is a good idea to only seek companies that are older than a decade. At the same time, companies that are too old may be giants that find it difficult to adapt to the changes in the ever-changing markets. When it comes to these, it is important to understand that you need to consider your own goals and see if the person/company you are reviewing can match your financial plan or not. 

Expertise in the financial sector may mean a lot of things. University and college education, certificates and diplomas, and similar paperwork may be a good way to find yourself a good financial expert. However, companies that do not post the names of their employees that you will be working with on your financial plan, may not be the best solution. 

Services Offered

Reaching your financial goals is not a simple set-it-and-forget-it type of solution. In fact, you may need to have different strategies for your business investment and your personal investments. At the same time, cost-optimization in both fields is one way to approach a topic, while making more is another. At the same time, investments demand a whole different type of approach, and you are likely to be seeking investment advisors for more than one financial plan and financial goal. 

Fee Structure

Your retirement planning is one thing, but choosing a certified financial planner to help you reach your financial goals is something else. Until you factor in their fees. Yes, they can get expensive, especially if you do not have a lot of money to invest right now. The thing is that any capital gains or dividends paid out need to be higher than the fees that you have to pay for your financial affairs to make financial sense. 

For this reason, you should check out the fee structure of the financial advisor that you plan on hitting. When it comes to a fee-only investment advisor, this is the best kind – as you will always know how much you will have to pay, and you will always have a good idea of what your investment portfolio might look like the next year. 

When it comes to the fixed fees described above, it is important to note that with these, the more you put towards your savings or your investment, the better the payoff and the more interest you will be able to collect for yourself. Saving the money throughout the year and depositing it once or twice a year is advisable in this case for all who have lower income, while those with higher income or deeper pockets can do so multiple times a year. 

Always seek an investment firm that is transparent about both their fee structure and the investment solutions that they offer. A comprehensive personal plan is something every good portfolio management will be able to offer and the best financial planners will always include their fee structure. If you can find none, we suggest you keep looking. 

Client Reviews and Testimonials

Last but not least, you will entrust your financial life to this investment advisor or investment form, so it is best to check out what others have to say about how different companies helped them reach their financial goals or how they have helped with retirement planning. In fact, retirement income planning is one of the most common reasons you may be asking for an initial consultation, and these financial decisions should only be made once you know your financial objectives and which investment firm you would like to work with. 

On the other hand, you may simply want to improve your financial situation and have a better investment performance. In both these cases, financial decisions should only be entrusted to those who can actually do what they promise – and what better place to check this out than the plethora of online articles and other reviews that you can stumble upon. When it comes to the reviews themselves, make sure you pay good attention to them, and seek those that match your financial plans. 

For example, there is no use in seeking a large independent wealth management firm if all you need is advice only financial planning institutions can give you – seek comments and reviews containing these keywords. When it comes to the best financial planners, they will pay attention to each individual customer, and they will fight for every good review they can get. If in doubt, just look at what high net-worth families do and copy their model. 

FAQs

How Much Does a Financial Advisor Cost in Toronto?

A financial advisor does not cost much in Toronto. In fact, they charge around CAD150-350 per hour. However, since this is not little, you should go to the meeting well-prepared. That means doing your research, reading online (and in print, if necessary), and making sure you understand what you want your investment portfolio to look like. Personal finances should not be joked with, and these legal professionals cost a lot, so make sure you go there understanding exactly what it is you are seeking and seek good legal advice. 

Who Is the Most Trustworthy Financial Advisor?

There is not a single most trustworthy financial advisor in Toronto. In fact, most of them will be able to provide unbiased advice. Providing fee-only services is a big plus, and so is offering personalized service. When it comes to communication, they should actively work on a deep understanding of your financial well-being and have good tax strategies to offer, as well as a plethora of other professional services for you. 

Final Considerations

Your retirement framework should be worked out by a professional. The same goes for your private finances and knowing where you are on your financial journey. As most Canadians want to invest in personal pension portfolios, it is important to understand that you may need help with these, as there are so many investment solutions in Canada. Different tax strategies can be implemented as well, and your financial needs taken care of, all at the same time. With all of this, a financial advisor can help, and this handy guide gives you details on how to choose the best one in the area.