Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this8:02 am
December 23, 2011
Offline
We have accounts with Manulife. I have access to view both of our accounts and have the ability to print a PDF file usually as of close of the day before. I still prefer to know what I have on a monthly basis and Manulife only sends statements quarterly or when a transaction occurs. The statements arrive 3 weeks later.....which in my opinion is poor. Our previous provider sent us statements on a monthly basis.
For the second time this year some of either of our investments have totally disappeared.
I have contacted my adviser but I think he is forgetting to pursue. No doubt I am loosing patience and trust.
Any one else have the same issues of disappearing investments with Manulife?
8:49 am
November 4, 2014
Offline
Kanaka, we don't have a Manulife account or accounts and we don't have this problem with online accounts but we make sure we have written confirmations and statements of all our investments.
As for all our investments, accounts, other important documents, GIC's, term deposits, when we get certificates and other supporting statements, we keep them in a safe place and write down where everything is kept in a safe place with multiple copies.
We don't throw away any of this stuff for years. We still have investment, account statements, confirmations from 10 years ago.
We keep this information and documents, statements for tax purposes as well. This is very important for us.
Kanaka, I can understand how if this keeps happening, you feel frustrated, annoyed and losing trust, patience with them.
Make sure you don't throw away anything, Kanaka.
9:05 am
December 23, 2011
Offline
Lol. I am just like you. I love keeping paper.
Every time I have a transaction with Manulife I ask for his signed off copies back to me...but he does not comply. I now do everything by mail and keep copies before I mail it back. I refuse to drive to Vancouver for 45 minutes each way, pay $20 for parking, and then another $40 for lunch to deal with this guy.
9:25 am
November 4, 2014
Offline
Kanaka, it looks like it may be time to change advisers or go another way that you can do more of your own investing.
I think you already said in some of your posts that you are looking at moving money out some to Manitoba credit unions that have higher GIC rates as you did already with Oaken Financial in 2014.
Either these guys have too many profitable clients or just do not like their jobs. I don't get why people are like this.
10:27 am
December 23, 2011
Offline
You are so astute! I was disappointed with this guy from day 1. I was going to pull everything from him to another adviser and use the new adviser to wind down from. After 3 months or so when I cooled off....I decided to use him to wind down. The only problem is for RRIFs I will have to deal with 3 institutions instead of 1. But it is all a percentage of the total....not a big deal. I have had 3 advisers 1 good 2 not. Picking another one is a crap shoot so going on my own is the way for me. There is lots of good info out there to invest wisely. I have been with this guy for over 2 years and he has never discussed goals and options. I think he must be the useless son in law that was given a job at daddy's firm....lol. Last night I was in iTRADE, pulled 5000 out of Accelerate, and made 2 trades in 10 minutes.....for the grand cost of 50.00 and his cost would be $300.00.
10:51 am
November 4, 2014
Offline
Kanaka, I think these advisers that don't do a good job will have more problems in the future because investors, clients will find another way to do their business and like you said, keep more of it and grow it more than if it stayed with them.
I think if interest rates were higher, GIC's that is, 4.6% to 5.00% like back in 2006, 2007, many people would probably not of even thought of putting alot of their money with them.
11:00 am
December 23, 2011
Offline
I whole heartedly agree. The online information, magazines and online investing will weed out and starve the advisors that can't produce a good return for your investment. They have to offer creative solutions that are reasonably safe with good return.
Show us your education is worth me paying your commissions!!
11:24 am
November 4, 2014
Offline
Kanaka, very low interest rates and rising equity, stock market type investments is probably what I think is making thinking people stay and not thinking so much to leave their advisers.
This is true even if they are not performing as well or better than what the market did. If they got 5% after fees instead of 7.4% like the TSX did in 2014, they are saying it is better than 2.00%, 2.5%, 3.00%.
This is probably more true with those that want someone to hold their hand so to speak when it comes to their investments, portfolio.
Please write your comments in the forum.