March 9th 2005
The Naked Investor. John Lawrence Reynolds.Why almost everybody but you gets rich on your RRSP
The Naked Investor. Why almost everybody but you gets rich on your RRSP. John Lawrence Reynolds. 2005. ISBN 0143016237 A noted whistlebower on the Cdn Investment market, this book is a compelling description of the perils found in dealing with a commission based financial advisors ( ie over 90% of them). If you are unaware of the impact of DSCs, high MERS, back loaded funds and trailing charges, wrap around funds and you have RRSPs /mutual funds, then I suggest you must read this book. I was aghast at how the Cdn industry gets away with this, and how really exposed a Cdn investor is with very little to fall back on. We do not even have a National Securities Commission, something we share only with Bosnia! No large firms are spared, and many sacred cows are shot. If you read this book and recognize that your broker/advisor is one of the good guys you will treasure them even more. If they are not, the steps and pitfalls to getting out are laid out. Good luck – It turns out that I have a great advisor!
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Category: Finance, Lifeskills
