Who's Minding Your Money?: Financial Intelligence for Canadian Investors

Monika Rohlmann is an environmental consultant in Victoria, B.C.

In this book, Sandra Foster, an investment professional who has written
two previous guides about estate planning and managing retirement
income, asks the question, “What is a bank?” As Chapters 1 and 2
demonstrate, there is no simple answer. Online trading is changing the
scene, as are mergers between banks, credit unions, life insurance
companies, and mutual fund companies. Chapters 4 and 5 lay out the
financial planning formula, complete with detailed checklists. Costs
associated with money management and investing are reviewed in Chapters
6 and 7. Detailed descriptions of financial advisers, their
qualifications, and services occupy the next two chapters. When
bankruptcy hits the institution minding your money, you should know
what—and how much of it—is covered. There is a whole chapter
describing bankruptcy inclusions and exclusions. In the final chapters,
Foster makes a case for more public education about money management and
investment.

This book is a behind-the-scenes look at the operational issues
associated with money management. It clarifies the choices we have in
where we put our savings. Although detailed, the checklists outlining
what to include in a financial plan do not provide enough guidance for
users to make their own plan. Foster believes in an orderly, planned
approach to money matters and promotes the financial management
profession. Her book is probably best suited for commerce students who
need to understand the context and process of investment planning.