Essential Investment Strategies Every Business Owner Should Know with Larry Bates

She Means Profit

Oct 24, 2022•29 min•Ep. 119

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Episode description

“Investment fees, for most Canadians, really cause great damage to their ultimate retirement savings.”

— Larry Bates

Larry Bates is a name that my clients and long-time listeners know well — I recommend his book to them regularly!

Larry is an independent investor advocate, former investment banker, and author of Beat the Bank: The Canadian Guide to Simply Successful Investing.

So, it’s safe to say that Larry knows a thing or two about how the investment industry works — and how to minimize your risk and get higher returns. In fact, full disclosure: Larry’s book is what helped me feel more comfortable about starting to invest!

Larry believes that the average investor is not well-served by the investment industry.

“Most Canadians are losing, believe it or not, 50% or more of their lifetime investment returns to fees they don’t even see or understand,” Larry explains.

The investment advisors at your bank do not act in your best interest. It’s important to make informed decisions about your investments!

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

How sneaky investment fees seriously hinder your investment returns and retirement plans — and why so few people know about them
How fee disclosure laws work (and don’t work) to reveal the true costs of investing
The low-cost, alternative investment products you should consider

About Larry Bates: Larry Bates is an independent investor advocate, author, consultant and speaker. Larry enjoyed a 35 year banking career with several major financial institutions in both Canada and the U.K. He is currently an investment advisor with Aligned Capital Partners Inc. Larry is on the board of FAIR Canada and is an Ambassador of the Transparency Task Force.

Highlights:‌ ‌

00:44 Introduction

01:45 Meet Larry Bates

02:55 Beat the Bank

06:01 Fee disclosure law

09:01 Importance of learning the basics

10:16 Investment firm v. ScotiaBank story

12:04 Trust deficit v. trust surplus

14:03 Index ETFs & robo-advisors

16:38 How to use the market

20:08 T-Rex Score & FAIR

22:58 Takeaway