Financial Advice Red Flags

Back to learn

7 Red flags the financial advice you’re receiving is not in your best interest

Rounding it up

  • How can you tell if you’re working with a dubious financial professional? Check out their offerings and advertisement claims; if they’re too good to be true, that’s a red flag.

  • If the financial professional is glossing over paperwork, urging you to make an immediate decision, disparaging their competitors, or have no certifications to show, it’s time to walk out.

  • Be wary if there’s more than one advisor in your meeting; it could be a sales pressure tactic.

  • If you see any of these red flags, consider seeking a second opinion from an accredited non-profit counselling organization, like Credit Counselling Society.

4 min read

Stacy Yanchuk Oleksy
#financial advisor#finances#red flags#financial advice

Stacy Yanchuk Oleksy

Stacy is a Certified Educator in Personal Finance, a Coach and the Director of Education and Community Awareness at the Credit Counselling Society. She is passionate about financial wellbeing.

Recent Articles

Bank of Canada raises interest rates

How fast does your credit score go up in Canada?

Will personal loans impact my credit score?

Can I get a personal loan with bad credit?

What kind of loans can I get in Canada?

Should I split my money between banks?

Related articles

When do you need a financial planner?

6 mins

Cedric Jackson

Confidence is key when managing money, and financial planners can help build it. Find out if you can benefit from this type of guidance.

When do you need a financial planner?

6 mins

Cedric Jackson

Confidence is key when managing money, and financial planners can help build it. Find out if you can benefit from this type of guidance.

#financial planner

#finances

#financial advisor

#saving

logo.koho

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.