The Financial Independence Hub is excited to unveil a new Internet video project on investing made possible by FWB TV, a unit of Toronto based Financial Wealth Builders Securities.
Starting today and on a regular basis, the Hub’s sister site, Findependence.TV, will be housing video content provided by FWB TV Paul Philip CLU, CFP and his associates. These high-quality videos generally run between two and four minutes and focus on investment strategies that are quite consistent with the content normally run on the Hub blogs.
You can find the first one by clicking on this headline: Who gets the Porsche — you or your investment firm? … Fees Matter! Expect the next instalment in a week or two.
Q&A on the rationale for FWB TV
To introduce the series and explain the rationale, here is a Q&A between myself and FWB TV owner Paul Philip CLU, CFP:
Jonathan Chevreau: Paul, you’re busy enough providing financial planning, securities advice and insurance services to your roster of clients. Why are you partnering with Findependence.TV to bring these high-quality investment videos to the public?
Paul Philip CLU, CFP: Our mission at FinancialWealth Builders is to be a leading informational resource toCanadian investors. We believe informed investors are successful investors. We believe today’s investor wants 24/7 access to great information, and our video series and The Financial Independence Hub provides that access.
JC: You told me earlier that when the latest market turmoil began in August, that only a tiny handful of your clients were worried enough to call you. I take it that the videos and white papers you make available on your site have already started to make your job a bit easier?
PP: Yes. We certainly take the time to explain how markets work and our investment philosophy upfront with clients before they invest. In fact we take them on a hypothetical “fire drill” before there is market turmoil so they are prepared when it inevitably happens.
That said, to be a successful investor you need patience and discipline. Our ongoing video series reminds on our how and why they are invested. Having this information regularlyreinforced and top of mind helps our clients avoid costly mistakes.
JC: The headline of our blog today is about Porsches and who ends up with the equivalent money of seven of those luxury autos. Can you tell us a little about that analogy?
PP: Retail investment fees are way too high in Canada. Sadly, they are amongst the highest in the developed world. The largest bank in Canada is making over $2.5 billion in profit every three months and It’s not coming from loaning out money at prime. There are a lot of Porsches on Bay St. We want to see some of that money stay in our clients own driveway, by way of lower investment fees and increased wealth for their families.