Second Opinion's Advisor Scorecard asks the right questions...

Not too long ago, Second Opinion Investor Services introduced the Advisor Scorecard, a straight-forward True/False evaluation of your financial advisor. We loved the concept of displaying such a tool for all Canadians to take advantage of. Moreover, a point system was introduced in which the individual filling out the evaluation could give their advisor an actual score out of 100 based on their responses. Thus far, almost 900 people have filled out the scorecard, and a 60 has been dubbed the average score....Translated as: You are fortunate to be with a competent advisor. One point lower, however, and you "...might need to monitor results."

This particular blog entry is not intended as a review, so there will be no explaining perceived strengths and weaknesses of the evaluation itself. Perhaps another time. We simply want to draw attention to this terrific concept. Second Opinion has the right idea. Are you fortunate enough to be with a competent advisor? Check it out...It is the season.

http://www.advisorscorecard.ca/

Seeing the success of a noble grassroots campaign, makes me take pride in our own.

And so goes my Twitter entry on election night.

This week we saw history. Well, every week we see history, but it was absolutely remarkable seeing Obama's victory in the 2008 US Presidential Election. It was remarkable seeing the effect the victory had on Canadians and the world. As proud Canadians, why does this matter to us? Yes, America has just elected their first African-American President, but he's gone futher than that. He has captured people's imaginations, and the citizens of his country feel empowered.

In March, with Obama vying against Hillary Clinton for the Democratic nomination, we wrote a blog entiled, "Obama Consulting Group," where praise was heaped on the process-oriented approach that he had embraced. As we said at the time, instead of focussing on the issues alone, he focussed on the the concept of changing the way politics had been done and what a government should do. Promoting this belief to the grassroots, he was able to spark a movement that did not end on election night. Go to: http://change.gov/ Already the tools to bringing transparency to Washington are there! His platform. His agenda. His blog. The opportunity to share your story.

It is this belief in the grassroots approach that inspired the founding of the Onus Consulting Group. Frustrated with the way business was conducted by the retail investment industry, the company was established with nothing but the belief that Canadians deserve transparency and the ability to decipher great financial advice. With full-service financial advisors given a great deal of flexibility regarding how they can conduct their business and charge fees, with our investor advocacy lobby relatively week, with embedded fees galore; the only logical solution, to us, was to ignite change from the bottom-up. Raise awareness among the public. Find those financial advisors that do exemplary work and refer them to Canadians who deserve it.

Will it work? If an African-American can get himself elected President with a similar grassroots approach, anything is possible. Hence, our jubilation this week.