Canadian finance
for newcomers.

Who I am and why this isn't another money blog

Questions everyone asks

Is it really free? What's the catch?+

The discovery call is free. If I recommend an exempt market product and you subscribe, I receive commission from the issuer (standard Canadian practice, disclosed in the Offering Memorandum). If not — you pay nothing.

What does a financial advisor actually cost in Canada?+

Depends on the model. Bank advisors are 'free' — but the fee is baked into the mutual fund's MER (1.5–2% per year). CIRO independent advisors often charge a % of AUM (1–1.5%). In my case the discovery call is free, and the commission from the issuer (if you subscribe) is disclosed in the Offering Memorandum. No subscription, no payment.

How are you different from a bank?+

A bank can only sell what's inside the bank — usually its own mutual funds with a 1.5–2% MER. As a DR I have access to the exempt market — private MICs, REITs, private lending. It's a separate asset class with its own risk and liquidity profile; specific return ranges are something we discuss on the discovery call after a Suitability Assessment.

What's the difference between EMD and CIRO advisors?+

EMD (Exempt Market Dealer) is licensed for private securities (MIC, REIT, LP) available only to Eligible/Accredited Investors. CIRO (formerly IIROC + MFDA) is for public securities (ETFs, mutual funds, listed stocks). Two DIFFERENT licenses, one regulator (CSA), different products. I'm EMD. For ETFs/mutual funds you'd want a CIRO advisor. Full comparison at /en/porivnyannia.

What's an Eligible Investor?+

CSA NI 45-106 category. Simplified: $75K+ solo income / $125K+ household, or $400K net assets excluding primary residence. It's not an IQ test — it's a regulatory qualification. For lower thresholds there are alternatives via TFSA/RRSP/FHSA. 60-second self-check under NI 45-106 — at /en/eligibility.

How can I verify your registration?+

NRD #4575551 on the official CSA site: info.securities-administrators.ca/nrsmobile/nrssearch.aspx. It's the common registry of every registered financial professional in Canada — the check takes 30 seconds. Step-by-step at /en/perevirka.

What's a Suitability Assessment and why does it matter?+

NI 31-103 requirement. Before any recommendation I have to assess: your financial situation, goals, time horizon, risk tolerance, knowledge & experience. It's not a formality — it protects you. If I recommend a product that isn't suitable, the regulator can revoke my license. So 'just give me 12% returns' doesn't work — KYC comes first.

I'm a newcomer without $400K yet. Is there still a point?+

Yes. 80% of clients start with TFSA/RRSP/FHSA setup. Exempt market comes when the infrastructure is built. The call is still useful — you'll leave with a plan for the next 12 months.

I just arrived on CUAET — do I need to wait?+

No. SIN + Canadian banking + permanent address — and you can open TFSA, RRSP, FHSA. The first 12 months in Canada are the best time to learn (while your tax situation is still simple). Exempt market needs the Eligible Investor category, but TFSA/RRSP/FHSA are open to any resident immediately.

What happens after the discovery call?+

One of three paths. (1) You're not an Eligible Investor — you get a plan via TFSA/RRSP/FHSA + calculators/guides. We pick up when you're ready. (2) Eligible Investor and ready — formal KYC, Suitability Assessment, specific product + Offering Memorandum for review (5–7 business days). (3) Eligible Investor but exempt market isn't a fit — I refer you to a CIRO advisor for public market alternatives.

Can I invest in exempt market through a TFSA?+

Technically yes — exempt market securities can be held in TFSA/RRSP/FHSA accounts if the account is self-directed with alternative-investment support. Practically — most newcomers fund their TFSA with broad-market ETFs first (via a CIRO advisor or self-directed), then layer exempt market in a non-registered or self-directed RRSP. We work the math on the discovery call.

What products exactly can you offer?+

Through Axcess Capital — private MICs (mortgage investment corporations), REITs, private lending funds, development LPs. Specific issuers and current offerings are private (NI 45-106 limits public-facing marketing); I show them on the discovery call after KYC. Every product comes with a full Offering Memorandum, fund fact sheet, and audited financials.