A lot of Canadians are considering "making the switch" from a traditional advisor with percentage based advice pricing over to an advice-only (a.k.a fee-only) advisor. Currently, there doesn't seem to be a comprehensive, up-to-date directory of Advice-Only financial planners in Canada. Existing resources are often outdated spreadsheets or PDFs that are difficult to sort, with pricing details that are old and no longer accurate. Also, some other "directories" are simply pay-to-play platforms that charge planners to advertise, resulting in an incomplete list.To solve this, I manually reviewed every entry in all directories I could find. I then visited each planner/firm’s website individually to verify and update their pricing, and I also cross-referenced every planner’s status with the FP Canada CFP® directory to ensure their credentials are current.In the directory below, I standardized all fields to allow for easy sorting and comparison. The listed fee represents the firm’s lowest advertised price for a standard (individual) financial plan (non-complex) - there's a bit of nuance in the definition of a "financial plan" but I tried to use specific guidelines to compare between providers as fairly as possible.The "Complex" column indicates whether the firm explicitly states they handle corporate planning, trusts, cross-border issues, or other advanced financial situations, but please note that it is NOT associated with the fees listed below. To reiterate, these service prices are for a basic plan, regardless of whether the firm offers complex planning services. I will be updating this directory quarterly moving forward.Below that, you will also find a dynamic tool designed to compare the long-term cost of advice-only planning versus percentage-based (AUM) models. You can adjust the variables to see how fees impact your wealth over time. You can essentially key in the pricing model offered by the firm you decide to work with to see the impact. It's a work in progress for the time being but I will be updating it.
Methodology/Disclaimer:1. I only included firms with at least one CFP professional to ensure a minimum accreditation standard. The QAFP designation was excluded, as it carries less stringent educational and professional experience requirements. 2. I excluded any firms that are not strictly Advice-Only or Fee-Only. 3. I excluded firms that require in-person appointments. 4. I excluded firms that are no longer operating, or that don't have an active website. 5. I updated the pricing using current website data whenever available. 6. I excluded firms that do not disclose a fixed "per-project" fee (meaning that I excluded those that charge solely by the hour, subscription-only, or percentage of income). 7. Standardized Comparison: I have aimed to provide a "like-for-like" comparison by focusing on a basic financial plan for one individual across multiple disciplines. However, because financial planning roles and services are not standardized across Canada, variations in service scope may still exist between firms. While I followed specific internal guidelines to ensure a reasonable comparison, users should note that the depth and deliverables of "basic" packages can vary meaningfully. 8. Geographic Availability: Please note that service availability may vary by region; not all firms are licensed or provide services in every province. 9. Data Accuracy: Every effort was made to source the most current pricing directly from firm websites. Where public fee disclosure was unavailable, I utilized data from Value of Simple and Steadyhand to complete this directory. Please be aware that third-party data may become outdated. All information is provided "as-is," and I strongly recommend confirming all fees and service details directly with a firm before engaging their services.
For planners: Notice a mistake in your listing? Or perhaps you’d like to be added to the list? It's free! Reach out to me anytime at: [email protected].