Who manages your money?

[pheoxs]

Poll is missing an option for: Me: But I don't actually

[CompletelyNumb]

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Poll is missing an option for: Me: But I don't actually

"You guys have savings?"

[suntan]

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My bank offered a very narrow selection of their own managed products. (This was ATB, maybe the others banks have better product offerings - but didn't really seem like it at the time?)

Non-bank fee based advisor had access to a much wider range of funds, and compared the performance of what my bank offered and had me in vs. what she could place me into. Much better returns and performance overall which more than offset the fees. Plus, something to be said about building a relationship with someone vs. whatever schmuck answered the phone in the call-center. I suspect the banking experience would be different with HNW-private banking like what Rage mentioned, but I don't fit that bill, haha).

Ridiculous. I hope they were comparing apples to apples, which I seriously doubt. Virtually every fund has an index you can compare against; what matters is how they perform vs. that index, which I absolutely guarantee you has at least one low, low, low fee ETF that you can purchase instead.

[ercchry]

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Ridiculous. I hope they were comparing apples to apples, which I seriously doubt. Virtually every fund has an index you can compare against; what matters is how they perform vs. that index, which I absolutely guarantee you has at least one low, low, low fee ETF that you can purchase instead.

But then he’d have to learn how to signup for a self directed account

[XylathaneGTR]

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But then he’d have to learn how to signup for a self directed account

too much effort for me.
/thread.

[suntan]

Now that everybody hates Wealthsimple I need to make a Wealthsimple clone.

[taemo]

pay the minimum due on CC every month, use LoC if need money right away.
how hard can it be that I need someone to manage my finance?

[ExtraSlow]

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Now that everybody hates Wealthsimple I need to make a Wealthsimple clone.

Does everyone hate WS?

[max_boost]

I presume wealth mgmt has much other stuff like tax planning, estate planning, trust fund stuff lol 7.2 to qualify or gtfo

[msommers]

7.2 was years ago. It's a nice even 10.0 now

[BerserkerCatSplat]

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Now that everybody hates Wealthsimple I need to make a Wealthsimple clone.

What's the dig on WS?

[suntan]

I think Canadians hate it when Canadian companies become successful.

[msommers]

This guy has looked at average annual returns of WS and the MER fees (which are extremely low).

WS is a great 'set it and forget it' system. I don't personally use it.

https://retirehappy.ca/wealthsimple-review/

This blog evaluated popular Vanguard offerings:

https://passiv.com/blog/vgro-vs-xgro/

[arcticcat522]

Questwealth is the bulk of my retirement and some self directed TFSA that I am losing my shirt with. I'm not good at investing....yet....just need a couple speculative plays to print and ill be a pro.

[XylathaneGTR]

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I presume wealth mgmt has much other stuff like tax planning, estate planning, trust fund stuff lol 7.2 to qualify or gtfo

That was a benefit of my advisor; they offer a lot of "holistic" services like what you described beyond just investment management which can benefit HNW folks, and that simple retail banking doesn't offer.

[Bytem3]

I use Wellington-Altus

Happy so far

[Pacman]

Fee based advisor along with an Interactive Brokers account for myself to play around with. I had pretty strict criteria for an advisor, with a chartered CFA designation being the main one. That narrowed down the list of available options significantly.

[2002civic]

Does anyone have a recommendation for a good banker/money manager with TD? Moving our mortgage from CIBC to TD and not a fan of our guy with CIBC Imperial so thinking of moving everything else over.

[ExtraSlow]

You need to be clear on your goals and interview the individual to see if they can provide for your needs. If you aren't HNW, most bank dudes are garbage who are. Incentivized to spend under 10minites a month on your file.