I've been using the same financial adviser as my my family and am wondering if Canadian financial advisers who work at the bank specifically Scotiabank would purchase mutual funds that specifically benefit themselves. I am not saying that they make bad investments, but they make their investments based on the bank.
Someone mentioned to me when I told him that I used the guy at the bank that they are bad first because we pay too much management %, second, because they purchase the funds that benefit them. I do see all my funds purchased through my bank were funds from Scotiabank and he has been making frequent purchases rather than lump sum purchases.
It seems like the adviser isn't directly benefiting from this, but Scotiabank is. Any info would be helpful. Maybe i'm just being paranoid.