Vancouver-based Know Your Advisor Inc., the company that built the online database of advisors called Know Your Financial Advisor, has launched a free matchmaking tool to help Canadians find an advisor who’s right for them.
The service, called AdvisorMatch, collects information about an individual investor’s financial priorities, risk tolerance, investment knowledge level and financial profile. It also gathers information about the investor’s preferences when working with an advisor, such as the advisor’s age, gender, languages and location.
The tool then compares these criteria against a nationwide database of financial advisors, and provides a short list of advisors most closely matching the requirements.
“We’ve all heard the financial horror stories out there, so finding the right financial advisor is very important for an investor’s peace of mind, and step one on the path to a trusting relationship,” said Christian Gradley, CEO of KYFA.
“Solid investment advice has the power to impact a lifetime, and now there’s a systematic way for the average investor to find a trusted, verified financial advisor rather than having to ask a friend for a referral or being assigned someone at a bank.”
A similar client-advisor matchmaking service called Accretive Advisor was launched in January 2010 by Oakville, Ont.-based Accretive 360 Inc.
KYFA, founded in 2009, boasts a directory of more than 50,000 advisors. The website also features educational material and tools for investors.