Here comes a new breed of novice- financial product sellers in GTA & Ontario who offer you life insurance , mutual funds etc. etc. to new immigrants.

There are many hidden details which are not well informed to you. Recently a broker who sold me mutual fund product which has 7 years lock in period.
There are other options avaiable with zero lock in and 3 years lock-in.

It is broker's responsibility and duty to inform you about all the available options, but unfortunately it is not done by many novice and experienced brokers who wants to make fast bucks by any means. In seven years lock-in term your broker is making highest margin while in other options they make little less money. So it is quite natural you will be sold something where in they make highest commission.

So better watch out when some broker approach you with a financial product, make sure you tell them your choice of lock-in period, Otherwise once you are in system, you cannot sell your product for 7 years and you are struck . There is huge penalty for converting or premature selling before the term.

Majority of brokers will sell you 7 years term mutual fund without you noticing it /
Besides they will have you sign all the papers in their favor.

Be watchful and protect your money before loosing it to greedy brokers.

One of the things you can do as a customer is to research the funds independently, on your own time.
i.e. after receiving all the information from the agent, come back home and spend time researching the funds on globefund.com or morningstar.com or several other sites.
These sites provide a very clear summary of the features, terms and conditions of the funds - very different from the broucheres or marketing material that the agent provides.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"