Author pledges to fix your broken portfolio
Financial planner Chris Turnbull brings new book to town on Saturday
By: Scott Hayes
| Posted: Wednesday, Oct 16, 2013 06:00 am
Your Portfolio is Broken: Who’s to Blame and How to Fix It
By Chris Turnbull
Available at Audreys and some Chapters/Indigo stores including in St. Albert.
For more information, visit www.theindexhouse.com.
If you’re a frustrated investor whose portfolio needs a bit of gluing back together then you might be interested in stopping by one local bookstore this weekend.
Chris Turnbull is a financial analyst and certified financial planner. He’s also been managing portfolios for more than two decades, and as such, knows a thing or two about how to make the most out of your money.
Turnbull is bringing his new book to market and he’s stopping by Chapters on Saturday. Your Portfolio is Broken: Who’s to Blame and How to Fix It is meant to answer many of your questions, even the ones you didn’t know you had.
“The whole point of this business is to utilize good consumer practices in the management of portfolios. That’s what the book is about: it’s really trying to help frustrated investors understand their sources of frustration,” Turnbull said.
Once people understand, Turnbull can easily offer some simple solutions, he said. It all starts with a better understanding of the four main types of firms in the investment industry, what they offer and how they offer it, and what investors need to get in return.
The book examines the Canadian investment industry and investors. It attempts to determine how people can get better results.
“When you look at the portfolios of frustrated investors, the problems aren’t solved by being a faster or smarter stock analyst, or researching the next best mutual fund, or buying more products and predictions in general. It’s really doing some simple consumer practices that you would do whenever you buy any product or service.”
To offer an example, he said that when he does portfolio audits he often sees several problems including lack of focus, too much risk taken, incurring unnecessary fees or tax, and rarely capturing the full return of the market.
“Sloppy practices get sloppy results. None of these problems are solved by buying more products or predictions. They are solved by being a better consumer of investment services. Would a good consumer invest hundreds of thousands or even millions of dollars into anything and not know what they are getting for a return or what it’s costing them?”
The good news is that the solutions are pretty straightforward, he added.
To start, there are some key questions that people should ask, and they’re even listed on the back cover:
• “Is my advisor trying to beat the market return with my portfolio?”
• “What is my portfolio’s return?”
• “How much do I pay in fees?”
• “How am I protecting my portfolio in an increasingly volatile world?”
Turnbull will be at Chapters St. Albert on Saturday from noon to 4 p.m. The store is located at #30, 445 St. Albert Rd.