What is the purpose of a management fee or for investment advice?

The purpose of a management fee or for investment advice and the factors that warrant it, were spoken of by Sopinka, J. in Mandzuk v. I.C.B.C., 1988 CanLII 16 (SCC), [1988] 2 S.C.R. 650 (S.C.C.). At pages 650-1, Mr. Justice Sopinka said: The issue in this appeal is whether or not in serious personal injury cases an amount for an investment counselling fee should be awarded to the plaintiff. This is essentially a question of fact in each case. The only principle that appears to be applicable is that the defendant must take the plaintiff as he finds him, including his state of intelligence. Whether this is low by reason of the injuries complained of or its natural state, a management fee or an investment counselling fee should be awarded if the plaintiff’s level of intelligence is such that he is either unable to manage his affairs or lacks the acumen to invest funds awarded for future care so as to produce the requisite rate of return... A plaintiff seeking to recover either a management or an investment counselling fee should provide a factual basis to the trier of fact, including: (i) evidence that management assistance is in fact necessary; (ii) evidence that investment advice is in fact necessary in the circumstances; (iii)evidence as to the cost of such services.