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www.oakvillebeaver.com The Oakville Beaver, Wednesday August 30, 2006 - 13 KSM camp teens in Run for Hope Eight teens from Kerr Street Ministry's summer camp will be participating in a fundraising five-kilometre run. They have been outfitted with Nike shoes, thanks to The Running Company and a private donation. The 5KSM Run for Hope on Sept. 9, an Ontario Track and Field Association (OTFA) certified event, is open to elite runners. Organizer is Caroline Glasbey, a local runner and KSM adult literacy volunteer. The race will start and finish on Bartos Drive near Oakwood School. Parking and festivities will be at Kerr Street and Prince Charles Drive. Entry fee to participate is $30. That money, plus all pledges, will go to KSM. Ron Shantz, executive director of KSM and Mayor Ann Mulvale will officially kick-off the race at 8:15 a.m. The first male and female to finish the race will receive $200, plus medals will be given for the top three finishers in 12 age categories from 14 and under to masters ­ 40 and older. Following the race there will be a one-kilometre family walk/run. For information, call 905-338-5294 or see www.onlineregistrations.ca/5ksm. KSM helps and gives hope to Oakville's most vulnerable citizens, providing tangible relief to those suffering economic, social and emotional challenges. Serving more than 2,200 people, KSM focuses on the needs of at-risk children and youth of the low income, single and immigrant families in the Kerr Street area. You Will See: · hundreds of new products and services for your home · terrific, one time Home Show specials · lots of prizes & free draws · a great family outing! · local, reliable companies THE OAKVILLE LIFESTYLE FALL HOME SHOW Proudly produced by Jenkins Show Productions ENJOY THE SCIENCE NORTH OUTREACH PROGRAM! GROOVE TO LIVE SMOOTH JAZZ OF THE AWARD WINNING CLAYTON SCOTT JAZZ BAND! · great selection, great quality, great prices - all under one roof · one stop shopping for quotes You'll see sunrooms, decks, blinds, air conditions, garage doors, countertops, artwork, awnings, spas, replacement windows & doors, builders, renovators, deck refinishers, water purifiers, cookware, resorts, furniture, painters, flooring, plus much more! SHOW HOURS: Friday 3 p.m. to 9 p.m.; Saturday 11 a.m. to 5 p.m.; Sunday 11 a.m. to 5 p.m. Children 12 & under FREE 905-827-4632 Mississauga-Oakville Bridge Centre Fall And The American Contract Bridge League Bridge Monday evenings 7:45, beginning September 18 FOR BEGINNERS...8 weeks, $139.00 beginning September Lessons Wednesday afternoons 1:30,weeks, $139.00 20 FOR "RUSTY" PLAYERS...8 th th Monday mornings 9:45, beginning September 18th Wednesday evenings 7:45, beginning September 20th THE BRIDGE CENTRE OFFERS GAMES & LESSONS FOR PLAYERS OF ALL SKILL LEVELS (See our website) Is Your Financial Advisor on Your Side 5 Red Flags to Watch Out For I recently met with Rick Smith (not his real name). He is 40 and has $230,000 in investments. He was uncomfortable with the sporadic financial advice he was receiving and wanted a plan that addressed all his financial issues not just investments. He approached TriDelta Financial Partners for a second opinion after learning that we deal with all financial aspects and generally have better rates than the major banks. We reviewed his situation and found a common scenario. His savings accounts and mortgage were with his local bank together with the bulk of investments. Two additional investment portfolios were with mutual fund companies. He had also dealt with a few insurance brokers. He had accumulated an array of separate accounts and products over the years and understandably there was no overall financial plan in place. His investment portfolios were in a number of different mutual funds. His advisor was only licensed to sell mutual funds and many were funds from the bank where his advisor worked. When I asked Rick about his fees, he said that he paid no fees. We pointed out that all mutual funds carry a management fee (average fee of 2.53% for Canadian equity fund with a load)*. In addition about half his portfolio was invested in `deferred sales charge' (DSC) funds subject to a penalty fee if he were to sell within a seven year period. We also demonstrated that by reducing his fees by a mere 0.58% Rick's family would probably accumulate an additional $203,247** at age 70. This could mean the difference between a comfortable retirement and one filled with financial worries. Unfortunately, we often speak to prospects that are unhappy with their current financial advisory relationships. Occasionally there is a specific reason, but often it is a general feeling that their best interests are secondary. When we review their portfolios, we usually uncover some very good reasons for them to be unhappy. We have categorized five of them. TriDelta Financial Partners' 5 Red Flags Just because a `red flag' is raised, doesn't necessarily mean that there is a problem, but it does suggest that more questions should be asked. 1. Deferred Sales Charges (DSCs) Mutual funds with DSC's essentially mean that you paid no up-front commission, but your advisor was paid about 5% of your investment, as a commission. While you didn't pay for this out of your pocket directly (although you are definitely paying for it over time), you are now essentially trapped for a number of years in this fund or another fund from the same company. You can sell the fund but will be charged a penalty fee of up to 6%, reducing on a sliding scale up to 7 years. This is almost always a bad trade off for a client. We generally don't recommend mutual funds as the investment industry has evolved and now has more efficient, lower cost alternatives. 2. Selling Their Own Companies' Products (proprietary products) If your advisor works for ABC Advisors, and they sell you a product branded ABC, be sure to check that the investment is in line with your objectives. ABC product may well be an excellent option, but the advice is likely biased. The odds that the best possible investment for you just happens to be produced by the same company that employs your advisor, is very low indeed. 3. No Fee Products The truth is that there is nothing sold that is truly `no fee'. Like the DSC mutual fund example above, you may not see the fee directly, but people are getting paid from somewhere. Ask your advisor about how their company makes money and how they are paid. If you don't get clear answers, take your money and run. Peace of Mind ... ... the most Valuable Service we Provide Please call (905) 820-5728 www.raynerbridge.com Anton Tucker CFP, FMA, FCSI KITCHENS BATHROOMS WALL UNITS FREE ESTIMATES CUSTOM DESIGNS CUSTOM FINISHES QUALIFIED DESIGNERS 905.330.7448 anton@tridelta.ca www.tridelta.ca OAKVILLE NORTH YORK MISSISSAUGA THORNHILL Tim Trian, CFA - Portfolio Manager , Laura Trian, C.A., CFP CIM - Investment Advisor 200-2908 South Sheridan Way, Oakville Tel: 905-829-0600 Visit us at http://teamtrian.dundeewealth.com Cabinet Concepts 905-632-0029 Unique EXPERIENCED INSTALLERS Doing It Right Since 1976 Call for a free mortgage consultation. Mortgage solutions for all borrowers. Anthony Spadafora ­ Mortgage Specialist Direct ­ 416-895-8610 Office ­ 905-828-1122 5 year 7 year 5.44% 5.55% 4150 South Service Road, Burlington anthony@assuredmortgage.ca www. 6509-C Mississauga Road, Mississauga, ON L5N 1A6 www.uniquecabinetconcepts.com Rates are based upon approved credit and can change without notification. Considering a Career Change? Mr. Michael Lee-Chin, founder of the Berkshire group of companies and AIC Ltd., invites you to learn about beginning a career in the investment industry. Join Mr. Lee-Chin, one of Canada's most successful Financial Advisors, intimate and up-close, as he speaks about his journey of business experiences that led him to this success. Find out about the Berkshire Difference and the opportunities that await you as a Berkshire Financial Advisor. Berkshire Career Night Tuesday September 12, 2006 7:00 p.m. until 8:30 p.m. 1375 Kerns Rd, Burlington ­ Berkshire Head Office RSVP by: Friday September 8, 2006 By email to: recruiting@berkshire.ca By telephone 905-331-9900 or toll-free 1-800-991-2121 Extension 3378 For directions, please visit our website at www.berkshire.ca 4. Top Performers (or `buy what used to be great') Werner F.M. DeBondt and Richard Thaler, Professors at the University of Wisconsin and Cornell University, respectively, examined the investment performance of stocks with the worst and best prior investment results in "Does the Stock Market Overreact?" in The Journal of Finance, July, 1985. They looked at the subsequent performance of portfolios formed out of the 35 worst and 35 best performing companies selected each year based on previous five year performance, reforming the portfolio annually each December 31st from 1932 to 1977. They found that based on five year momentum you are better off buying underperformers than outperformers. The 35 stock "dog" portfolio outperformed the market benchmark by 12.2% per annum, compounded, and the 35 stock "glamour" portfolio underperformed the market by 4.3%. 5. Guaranteed, No Risk There is a fundamental connection between risk and reward. Today, no risk means 3% return and if someone is guaranteeing 8% or 9%, with no risk, beware. As the current Portus scandal clearly showed, many `guaranteed' products are not really guaranteed. Even investments that guarantee your principle are not risk free. Usually it takes 10 years before the principle guarantee applies. Getting return of your principal after 10 years is a very poor investment. By contrast, over 10 years, a basic GIC paying just 3.5%, will turn $10,000 into $14,106. You deserve to work with a financial planner who is honest, professional, and has your best interests at heart. If you see some of the TriDelta Financial Partners' 5 red flags from your current financial advisors, be sure to ask questions, and if you are still uncomfortable, it is time to look for a new advisor. Anton Tucker is Vice President, TriDelta Financial Partners (www.tridelta.ca) ­ a fee based financial planning firm servicing the Oakville Area. Call me @ 905 330 7448. * Investor Economics ** Based on a compounded annual return of 8% (net of fees) & assuming no additional contributions. Copyright 2005 TriDelta Financial Partners www.tridelta.ca Column Provided by FINANCIAL PARTNERS TRIDELTA The opinions expressed in this column are those of the author and do not necessarily represent the views of this newspaper. OBA08 Regular Admission $3 September 8, 9, 10 Glen Abbey Recreation Centre, 1415 Third Line (just north of Q.EW.) Oakville Lifestyle Fall Home Show, September 8, 9, 10 at the Glen Abbey Recreation Centre, 1415 Third Line just north of the Q.EW. 360 ° FR EE PAR KIN This Pass will allow your family FREE admission (max. 2 adults and 2 children) to the G CLIP & SAVE! CLIP & SAVE C O UP O N FREE FAMILY PASS!