Is Your Portfolio Just a Pile of Parts?

Excerpt from The Canadian Couch Potato article:
Written by Dan Bortolotti

Is there difference between a diversified portfolio and a collection of investments? That’s an insightful question Chris Turnbull asks in his new book Your Portfolio is Broken: Who’s to Blame and How to Fix It.

Turnbull is a portfolio manager with The Index House, an Edmonton wealth management firm. In his self-published book (available from Amazon), Turnbull explains that when he worked as a broker he would “recommend stocks, bonds, mutual funds, preferred shares, structured products, term deposits, new issues, and other types of securities, according to client preferences.” Often the clients would make their own suggestions, and those would end up in the portfolio, too. By the time he decided to end his career as a broker, his clients “collectively held 185 different mutual funds plus hundreds of stocks, bonds, and other securities.”