What to Know Before (and After) You Hire an Advisor (w/ Matthew Taylor) | #427

Welcome to episode 427 of the Rational Minder Podcast. I'm Ben Felix, Chief Investment Officer at PWL Capital. And I'm Camera Passmore, Chief Executive Officer at PWL Capital. Today we're joined by Matthew Taylor, a litigation lawyer with Sotos Class Action in Toronto, who represents retail investors and pension funds and securities class actions. He also works with Harold Geller, who is a guest on this podcast in episode 236.

And today we discuss what makes a successful negligence claim against an advisor, the fiduciary standard in Canada, and what retail investors need to know about private equity and influencers. And stick around to the end to hear our thoughts on the conversation, but for now let's get into the conversation with Matthew Taylor. Matthew Taylor, welcome to the Rational Reminder podcast. Thank you for having me. Very excited to be talking to you.

I think we're going to have a great conversation here. Matthew, what are the most common financial advisor errors that result in successful negligence claims from their clients? For there to be a successful claim, there basically always has to be some form of failing in the suitability analysis. That might be failure to accurately gather and know your client, KYC information. It might be a failing in understanding the products are recommending, a KYP failing, but just because there's been some sort of a failure there, that doesn't mean an investor is actually going to be able to prove their claim.

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