If nothing else, the financial turmoil over the past year or so has caused many investors to revisit their portfolios and rethink their investment strategies. Along the way, some have started to ask if they were getting good value from their investment advisors — or if they were better off going it alone.

Here is some good news, if you:
1.) Know, or at least suspect, that you are not getting the service and professional advice you need from your advisor
2.) You are considering switching advisors
3.) You want to continue using an advisor, but also want to become more informed and directly involved in your investment decisions
4.) You just want to go it alone — but could use some help.

Check out the Investors-Aid Co-op. It was formed in May 2008 by Garth Rustand, who now serves as Executive Director, along with a seasoned team of professional advisors. As they bill themselves: “Canada’s first co-operative for investors is run by members for members. It is the new way to invest.”

Garth was in the brokerage biz himself for 20 years so he knows “the other side”. He felt that “there wasn’t anything out there that provided truly objective information to help investors lower their costs of investing, and to protect them from products and services that just aren’t very good.”

The Co-op itself has got to be one of the greatest investments out there. A “lifetime” membership fee is just $35. For $30 more you can get two very helpful books to guide your investment strategies – whether you want to continue using an advisor or are ready to go strictly on your own.

I joined the Co-op myself and was especially impressed with the level of detail in their guidebooks. They outline specific portfolios and investments that were picked for quality and low fees. Another plus, is that the language is down to earth and very easy to read for the average investor. The sample portfolios feature lots of exchange-traded fund, (ETFs), but not exclusively. This is very helpful info if you’ve been considering ETFs or low-cost mutual funds but need some guidance and direction.

The Co-op also provides good consumer reports and other valuable investment information. Another membership plus is that you can email the Co-Op with your specific investment questions. And, for an additional charge, they can also provide you with an independent portfolio review. (In my opinion, the Co-op has way underpriced this valuable service!)

What I like most about the Co-Op is that it is educational in nature. They aren’t trying to “sell” you anything, other than straight-forward investor education and consumer info. They truly seem to have the investor’s best interest at heart.  Knowing how much money can be made as an investment advisor – and what Garth likely gave up financially to help out the rest of us – he sure isn’t motivated by the money anymore! – Karin Mizgala

You can learn more about the Investors-Aid Co-op at: www.investors-aid.coop

Karin Mizgala is a Vancouver-based fee-only financial planner with an MBA and a degree in psychology. She’s the President of LifeDesign Financial and co-founder of the Women’s Financial Learning Centre.