When choosing a financial advisor, don’t swipe right too quickly. It can be tempting to just go with the popular kids (otherwise known as the Big Six banks), as they already manage about 63% of household financial wealth in the country, and you probably already bank with them. But here’s the thing: Rules from 2021 aimed at making sure advisors really know their stuff about the investment products that they are selling inadvertently nudged advisors at Canada’s largest banks to primarily push their employer’s products. This has left many bank customers feeling dissatisfied with their financial advice, with 27% reporting they can't access the products they truly want, according to a 2023 study. Independent wealth managers, like Richardson Wealth and Wellington-Altus, can offer an array of choices. Just last week, Fidelity Canada got approval to launch its own wealth management service, slated to debut next year. Despite having its own products, Fidelity plans to allow advisors to offer a wide range of options to clients, in an effort to offer "objectivity and independence," Eugene Boakye, managing director of Fidelity Wealth, told The Peak. If you're eager to explore investment options (about 45% of Canadians are), an independent firm could open up more opportunities for you.