MS: What is the specific job of a financial planner?
The financial planner's job is to build a great portfolio and financial plan— not just buy a financial product. For instance, by bringing together several good mutual funds you can build a very cost-effective, well-diversified and well-managed portfolio of indexed mutual funds or ETFs. That portfolio could include a great value style global mutual fund such as DFA Global Equity Portfolio F (MER 0.55%), a great dividend mutual fund such as Purpose Core Dividend Fund (MER 0.55%), a great global bond fund such as PIMCO Income Fund Class D (MER: 0.79%), a great global small cap fund such as Mawer Global Small Cap Fund (MER: 1.81%) or a great all-cap fund such as EdgePoint Global Portfolio Series F (MER 0.95%).
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