TORONTO - The 2009 RRSP season could be a tough sell for investors who got scorched last year during the global meltdown on financial markets.

However, a contribution to a registered retirement savings plan -- whether it's in equities, mutual funds, guaranteed investment certificates or whatever -- will still yield a welcome tax refund.

And while you're at it, ask yourself if you could have done anything different last year while the losses were deepening, simply by being a better investor.

Not only would you benefit, but your financial adviser would likely appreciate sitting across from somebody who doesn't just shovel over cash without a murmur.

"I prefer having someone who knows and understands and has an appreciation for what is going on -- that client is a better client," says Adrian Mastracci, portfolio manager at KCM Wealth Management in Vancouver.

"That client is going to be trying to get the best performance, and doesn't want to jump on the bandwagon. And he or she knows that this is a long-term affair."

Mastracci added that he's noticed investors are certainly better educated in one key area than they were a year ago -- understanding that the market is risky.

"Everybody is aware of taking a haircut."

An excellent resource for the novice investor is the Ontario Securities Commission http://www.osc.gov.on.ca/Investor/ic--index.jsp where you will find investor information and the Investor Education Fund. http://www.investored.ca/en/Pages/default.aspx?aid=osc

"Just giving up is not an option," says Tom Hamza, president of the Investor Education Fund.

Investing, Hamza says, "isn't that intimidating; you just have to understand some basic things and have a framework to advance with, and you will be OK."

The Investor Education Fund website offers explanations in simple language about all types of investments and how to shelter them from tax through RRSPs and the new tax-free savings accounts.

For example, the section on mutual funds describes what a mutual fund is, what it will cost, how to buy one and whether they might be a good choice.

OSC resources offer a wealth of information for the novice -- and also for investors who regard themselves as experienced.

A segment on questions to ask when choosing a financial adviser is particularly helpful because many people don't know much about shopping for one.

"Working with your financial adviser is actually something that has come to the forefront in the financial crisis, just because there is more of a focus on maximizing the value of that investor relationship," said Perry Quinton, manager of investor communications at the OSC.

"When markets are going up, it's pretty easy to sit back and let someone else do it."

Questions to ask include whether the adviser is registered with securities regulators, which provides an assurance of basic qualifications.

Asking how an adviser is paid is also apt -- and it's not like asking your neighbour at a dinner party how much she earns.

"You're the one paying it so you need to know how you're paying it," said Quinton.

Some are paid by salary so the cost of their advice is built into their products. Some receive commissions on what they sell, while others charge a fee based on your portfolio.

For investors who want to get serious, there is the Canadian Securities Course.

Investment professionals, including those seeking a brokerage or mutual funds licence, have to pass this course.

The CSC, which costs about $900, delves into how to analyze corporate financial statements and gives the lowdown on all financial instruments, including structured products and derivatives.

Whichever route you take, you should feel a lot more in control by not leaving everything up to the adviser.

"I really believe investing is a lifestyle choice, and that means there is work involved," said John Stephenson, portfolio manager at First Asset Funds.

"And for many people that is offputting, and perhaps life is complicated and for that reason people would rather just forget about it," Stephenson said.

"While you may rely on your investment adviser, you still have an obligation to understand what is in your statement, what he's doing at least in the broadest terms ... and you'd better be pretty comfortable that this guy knows what he's doing."