What is the likelihood of a plaintiff receiving a management fee from a financial advisor?
Ontario, Canada
The following excerpt is from Butler v Royal Victoria Hospital., 2017 ONSC 2792 (CanLII):
I agree with the Defendant. The proposed management fee is still subject to the real and substantial likelihood analysis. I can do no better than adopt the wisdom of my brother Quinn J. in Dybongo-Rimando Estate v. Jackiewicz et al., [2001] O.J. No. 3826 (OSC) when he stated at para. 72: “A professional financial advisor should be able to obtain a rate of return (net of his or her fee) that is higher than…[the plaintiff]…would experience if he invested on his own, without professional help. Otherwise, how could such an advisor stay in business?”
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