MoneySense Approved Financial Advisors: Methodology

How we award MoneySense Approved Financial Advisor designations

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MoneySense ApprovedListed advisors have received the MoneySense Approved seal, granted only to advisors who pass through a rigorous evaluation process. It provides the credible third-party endorsement that Canadians seek when searching for a new financial advisor or evaluating their existing one.

MoneySense staff review applications by advisors for approval in the program, checking qualifications and subjecting them to an extensive survey of their services and practices, including fees and adherence to high standards of client service. Advisors must achieve a high score in our proprietary evaluation and receive top marks from their customers in a separate, anonymous client questionnaire. To be included in this program, advisors pay a fee to MoneySense but only those with passing marks are deemed MoneySense Approved.

Find the advisor who’s right for you: Try our search tool now!

Are you an advisor? Click here.

*MoneySense Approved rating is created for information purposes only and is not intended as financial advice. MoneySense Approved is not responsible for any advice or other communication provided to an investor by any Financial Advisor. Rogers/MoneySense makes no representations or warranties as to the suitability of any particular financial advisor and/or investment for a specific investor.

18 comments on “MoneySense Approved Financial Advisors: Methodology

  1. Hi, I entered my postal code (in Vaudreuil, QC) and got advisors in Etobicoke, Toronto and Barrie….And it said the advisor in Etobicoke was about 7km from me…Something’s wrong with the tool…

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    • Hi Julie, we’re looking into this. Thank you.

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    • Hi again, we’ve tested the tool with a random Vaudreuil, QC postal code (J7V 0B1) and the results seem accurate. The nearest advice-only planner is located 115 km away in Orleans, ON. Please try again and let us know if the problem persists.

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  2. Nothing in Edmonton? Kind of hard to believe

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    • How does one get on the approved list of advisers? Can’t find anywhere to sign up on the website.

      Thanks… Maclin

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  3. wondering more about how you choose your advisors because there are almost none in BC. Are they required to have at minimum a CFP designation? Do they apply or do you seek them out? Are they advertisers in Rogers publications? there is no way to contact you to submit a recommendation so how do you decide to test?

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  4. how much is the fee?

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    • Hi Darlene,
      Just go to https://www.moneysenseapproved.com/benefits-and-pricing for the fee and description of benefits and licensing as well as the application. Basically, it’s $499 for the basic application fee and Client Feedback Report, and then and additional $2,499 if you are approved for a one year license and are posted on our directory. If you require any more information, please email amy.nelson@rci.rogers.com.She‘ll be happy to answer any other questions. Thanks, julie

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  5. I don’t think your search tool works very well. I live in Vernon, BC and when I use my postal code I only get financial planners from the Vancouver area. Does that mean there are not any in my area? I tried a Kelowna postal code and got financial planners in Ontario. Would there be list available to simply scan through to find a planner near by?

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    • Hi Anne, Yes, in B.C. there are only financial planners approved in the Vancouver area for now. But we have several advisors that we’ll be adding to the list in the next few weeks so you can check back then. And unfortunately we have no list you can simply scan through for now. Thanks.

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  6. Do you have any MoneySense Approved financial advisor for the province of Quebec?

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    • Hi Normand, one of our editors has answered your question via email. Thanks for reading. Prajakta

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  7. How do you get the contact information for the advisor’s clients to do the surveys?

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  8. How do you get the client contact info to do the surveys?

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    • Hi Kristine–we don’t receive any client contact information from advisors. We send each advisor a link to their survey, which they then deploy to their clients. Feel free to contact me for more information or if you have any other questions! Amy.Nelson@rci.rogers.com Thank you!

      Reply

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