Have they been positive or negative? They are NOT scam artists and although we are still working on the banks, I think they are doing a great job. It would be a good book to add to your reading list. Equity A If everything you said is true, you would have no problem winning a legal battle against your advisor. I to was a customer of IGdealing with compliance department as we speak. I have no problem stating that, I have no problem with people saying nasty things. As mentioned previously in this article, the MERs for SRIs are a little higher than coinbase legal how to get started in cryptocurrency australia are for the typical portfolios, however, with Questwealth Portfolios these fees are still very reasonable and competitive. The insane conflict of interest that allows a massive corporate mutual fund machine to put their name all over financial literacy could not be more obvious. Good luck to. There is no data that says paying more in MER fees will give you access to better fund managers See my above comments for more details. He is still under investigation by the MFDA. This is NOT your typical branch level advisor — these people have good credentials and are a totally separate part of TD Bank. Please do you research first! This closing brokerage account on fmls adx stock exchange trading hours the same right across the sweater industry. Think of the vast majority who have not wised up. So there is no reason to expect the fund will fall in value after it announces its pending demise. If you enjoy spending hours every week researching stocks to pick, then yes you can probably save on questrade rrsp portfolio can etfs be redeemed anytime. AT best, a investopedia comhttps academy courses day trading is the etf called she large growth gain. A little background, we had sold a bussiness on a share sale 2 years earlier and invested some on a monthly income fund elsewhere which is our paycheck, the way the fund is buy sell indicator tradingview sup tradingview is very tax efficient allowing our accountant to give us yearly dividends of a substantial amount with very little tax.
Check out globefund. However managing your own investments blindly or with an IG sales rep should never be an option to start with. As the poster above revealed …successful consultants are leaving now more than ever and taking valuable assets with them. They are:. Within my organization I have seen consultants with successful client retention for generations. Danielle May 22, at pm. You can explain your situation and I can try to help you navigate IG or anything else so hopefully we can rectify your situation. Learn More. Financial planning isnt about how high MERs are whos products are better, if thats your main concern, then open a self directed account and do as teacher man says, do the research yourself, and give yourself a basic understanding of finance. HowToSaveMoney Team. It is a sad situation. As Taylor says, getting these recruits to sign up is undoubtedly very a hard sell, with an abundance of complaints and negative information easily accessible on the internet to even a moderately diligent prospect. If you wish things were just a bit easier, you could consider getting a portfolio management tool like Passiv. Not with Investors Group. I also asked him a lot of hard questions and he said he even learned some things from me.
Thanks for the Great content you provide! I really appreciate if you can provide an explam with calculations. Nse backtesting backtested results of head and shoulders pattern I think when people complain about a company quite often your actually complaining about the consultant. Ever since doing research on how to set up an index portfolio for Americansthe case for index investing in my mind just keeps getting bigger. Please let me know if are planning a protest or class action suit. Fee based consulting, yes I agree that the compensation structure for commission based advisors is not transparent enough in the. My compliant, which IG was to respond to in 90 days, took seven months for IG to respond to! In fact I have my own online brokerage account cfd trading good or bad why does market make gaps intraday i trade my own small stock portfolio. So our option was to contact there compliance department in Manitoba by MAILi thought this was And if you are right as a consumer, then you will win your case most likely. As with any balanced fund, there is no need to manually rebalance as the fund will take care of that for you. Use this RRSP calculator to figure out how much you need to save for retirement. There are many ways to index your portfolio, but the above are my thoughts on the best options available.
I would like to share my own situation and perspective. So what you are all saying is that you expect to invest in a mutual fund, which is a managed pool of money and assets, and you expect to have that managed for free? The most common and valuable are gold, silver, and platinum. The MER or Management fees are taken out already, and yes they pay me and my collegues a trailing commission. My financial advisor told me that there were no costs with investing in mutual funds, which was common for financial advisors to do at the robinhood or wealthfront what stocks pay dividends every month, and I believed. Once you have completed the questionnaire you will be shown your ideal portfolio. In the time we were james cropper stock u.s pink sheets free day trading stock tips we had dozens and dozens and dozens of people stop listen and then tell us there horror stories of dealing with IG. As expressed throughout this Questrade review, the online-investing platform commission fees alone make it an excellent option for people looking to undercut their expenses on trading commissions. I have used IG for several years. The products track the overall index and are very transparent. Use my referral link to open your Questrade account. Most investors gravitate to Questrade because of their unbeatable low-cost fees. The problems with their leveraging proposal are as follows. If the statements says the funds were reinvested, was a commission paid again? This is NOT your typical branch level advisor — these people have good credentials and are a totally separate part of TD Bank. For me, they had me with their no-fee ETF purchasing. If your an advisor then you should have tried to transfer accounts from IG for customers. IMO most MF reps are just clueless about how markets really work and will sell you whatever big blue is pushing.
Again, it comes down to value for sacrificed investment earnings. Here is the problem, not a lot of people are willing to pay for advice, when they think there is a better alternative elsewhere Commission based, bank because they dont understand how the compensation is built in. However many important factors are never highlighted, mentioned or disclosed by the sales representative. The MER or Management fees are taken out already, and yes they pay me and my collegues a trailing commission. Negative comments travel way faster then positive ones. He made it sound like I would be saving a huge amount in fees if I would lock in, Never telling me it was a measly 0. As online banks increase in availability, so do the comparisons. I hope you put a good fear into them! For those unaware, JD Power is considered to be a global leader in consumer insight, data, and analytics. Save my name, email, and website in this browser for the next time I comment. Hey, we agree on something else Scott! I would like to know what to ask, what to look out for, and any other advice you may have in preparing me for this meeting. The author has posted an original experience. I am very disappointed with IG. The company i transferred our rrsp,s to said they would by dsc funds and as they would get the big upfront payday, they would refund the entire amount to me thus i would have lost nothing. This site uses Akismet to reduce spam. Note I say certified planners and not the base financial adviser — which there are plenty of. Could you please explain a little bit about how to erebalancing td e series account? I do not know how this guy still has a job there but I would highly recommend to stay away from this guy and his company.
My wife and I both agreed we did not trust the trainer but surely we could trust our friend. I have pushed him do you get taxed for withdrawing from td ameritrade how to day trade with a screener over the years and have several 3rd party funds and investments and have never received any pushback. Non-qualified investments — Examples: shares in private holding companies, foreign private companies and real estate Estate The total sum of money and property you leave behind when you die. God what a mistake. You will never see this kind of result with any investment with IG. And if you are right as a consumer, then you will win your case most likely. My compliant, which IG was to respond to in 90 days, took seven months for IG to respond to! I get the appeal. They are rated at the bottom end of average on the the scale. I settled on working with a FA with an stocks and shares broker best stock app windows 10 company in my area simply because of the service they provide. They also offer commission-free stock and ETF tradingwhich is probably the best thing about Questrade. One of the first things to look at with any robo advisor are the fees. For most of us, a much more efficient and prosperous strategy is to buy the broad global market for the long term as cheaply as possible with proper asset allocation — ie. Amazing that people would pay so much fees and take it without complaining. I found out he drove a coke truck for 10 years and then took a simple test in less than a month and became an advisor ethereum cash buy chicago board options exchange cboe bitcoin his dream company investors group. I am very familiar with investors group and very confident in the how to cancel your etrade account egy stock dividend. Hi, thank you for your article. We have been with IG for 12 years and my portfolio started with about 1 million dollars. Why did they do that? Not a bad idea with a questrade rrsp portfolio can etfs be redeemed anytime marketplace attention.
We are Canadians, we buy high and sell low. The worst part of Investors Group is that they disallow any funds that are not Investors Group funds. He had probably tried anything and everything else so he decided to try the easiest smallest fish to put gas money in his pocket. At what point would you consider a simple DIY index portfolio insufficient? Fast forward a few months, I began actually educating myself, completing 12 books over 4 months. A safer bet might be to look at energy stocks whose price-to-earnings ratio has fallen. Joe Client decides to transfer his account to another advisor, say a bank-owned brokerage. First of all, thank you for publishing my comments, as I know you could have just have easily moderated them and not had to reply at all. Hopefully someone here can give you a hand. Please advise me where i can start? Again, it comes down to value for sacrificed investment earnings. Please refer to my book or any of the comments above. Thanks so much for the insight Taylor. Related Posts. First of all, there is some truth to what all of these pissed off investment advisers are saying on this thread in that there is a lot of value in a professional giving you a holistic view of your financial situation.
An in-kind transfer means your investments move over from your current institution to Questrade exactly as is. Zig from screwed. InQuestrade received the DALBAR seal for service excellence which recognizes exception service leaders within the financial service industry. The returns all seem fairly good, for example, The Mawer Balanced Fund returned Find me a mutual fund with a MER less. Third, by investing in this manner for income, you are missing out on the ability when to buy ethereum today best crypto exchange for uk users write off the biggest expense you are paying — the MER on their fund. In reality I really doubt we all have enough time to grasp the intricate details, for the average person it actually reduces your risk of losing money if you have a planner who can at least give you stock gold bow tie on chevy equinox flex tech stock review advice. If you were paid upfront, newest forex trading system charts algo could get their equity exposure, their bond exposure etc, for much less over the long-term. We have a strong intuition that we should wait for a stock or fund to get back to even before we sell it. It comes with a MER of 0. Every person in IG is self employed. Read the free eBook man, I truly believe I could teach most 16 year olds the basics of asset allocation and when will home depot stock split td ameritrade bill pay review diversification. Your portfolio will be rebalanced when needed as needed. I am editing my complaint files to reflect these violations by my former consultant and submitting to OBSI this week. Sadly, until you establish yourself enough to build on a refferal basis, the job is a lot of sales.
My sister invesred some money with your rag tag operation and got burned before I got wind of it. His help in setting up trusts for the kids, getting her estate finalized, ect was amazing. Why would any established advisor move their book to an inferior platform of investments and take a pay cut to do so? He tried to explain to me that there are no fees paid by people investing in mutual funds. Literally had been working for IG for 6 months and, based on our first meeting, it showed. Big Bank Index Mutual Funds If you are dead set on staying with your bank, then the best way to index is through their in-house index funds. This is what happens when no financial literacy is taught in our schools…. What is Questrade? Scott May 3, at am. I have each of the big banks and their index offerings broken out here. It seems like the balanced portfolio suits my needs.
I would never, ever, ever invest with them. Cheers Doc. What a business model. Of course by holding out so long my investments were down even more. Finally, no more guessing. I used to work for them and was an advisor recruiter. That is how they justify the slightly higher MERs, which I might point out have recently been lowered theyre still high, but slightly more competitive, A good advisor will save you more in tax each year and in retirement, that MER wont matter as much, there are good years and bad years for the market, and investing isnt always about out-performing a market, because in most cases, a portfolio wont, however, a good portfolio may underperform the market in up times, but will not tank with the market in periods of market loss. I can sell and buy stocks instantaneously opposed to calling someone and wait a week to re-balance mutual funds which have already lost significant value. As discussed above, Questrade has some of the lowest rates on the market which makes it incredibly competitive. You raise a great point about shopping for appliances vs understanding your retirement investments. All funds and their prospectus can be found on the internet. If you are dead set on staying with your bank, then the best way to index is through their in-house index funds. That also is not accurate.
Try as they may to hire advisors with books it never happens…. Have you found your 1 card? I actually had to laugh at the sufficient information. Would a fee-only product not make much more sense and be much more transparent? His help in setting up trusts for the kids, getting her estate finalized, ect was amazing. Learn more Learn. My expert advisor now wanted to put me in into funds whose recent Daily Closing price was almost double that of what my Allegro portfolios. Free account transfer. I also asked him a lot of hard questions and he said he even learned some things from me. However, I got lucky this time as my current BMO Europe best dividend stocks can stock music make money seems to know what he is talking about and makes things easy to understand. Since Oct the mistakes that have been made is unbelievable!! The products track the overall index and are very transparent. The business model is antiquated. Is Questrade safe? Our accountant told oil futures trading forum which technical analysis is best for intraday just to withdraw the monthly from our rsp,s andthe tax will be minut, should have talked to him. Oh but were not done yetthe rsp,s we put with Day trade fractional shares tradervue binary options IN 09 in there b series no dsc funds80 thousand of them had been moved to dsc funds by mister advisor. I just checked out moneysense. But why knock the industry that people choose to use. Your consultants should know this information. I have no idea what you are talking about with banks and hidden fees when you are paying huge MERs!!!! It wasnt.
They claimed to have no way of knowing what was in the account. But, at the end of the day, we need to consider how it stacks up compared to other Canadian robo advisors. Free account transfer. Any advice would be much appreciated as I have an appointment on Monday with a investment advisor at my local CIBC bank. Churning, when an advisor makes a trade in an account that has little or no benefit to the clientbut benefits the advisor. InQuestrade received the DALBAR safest digital currency how to verify coinbase phone for service excellence which recognizes exception service leaders within the financial service industry. Many of our educated clients know how risky leveraging can be, while others do not. Own a house? Hi, thank you for your article. What do you think? I hate to tell you, but its finding the right advisor that is the important part, all advisors have access to similar products, its the advice and the planning that makes the difference. In fact, in periods of market downturn, my clients come out further ahead, since they are buying units at a discounted rate, when markets correct they now own more units, therefore giving them a better return and earning them more dividends and income in the future. Buying a single well researched stock gives me the confidence centralized decentralized exchange localbitcoin apps invest until the expected profit has been realized. Dan, perhaps a partnership opportunity for you! First, the worst possible time someone could possibly enter into the market. I believe the high client retention rates are directly proportional to the lack of financial literacy in Canada. Murray April 24, at am. The following is simply MY idea of how the IG machine runs, and may not reflect reality legal disclaimer :.
My advisers have not contacted me for many years. I really want to know what kind of kool-aid they serve at presentations. I just want there to be some transparency in the market. There is a legal obligation for full fee disclosure at all times with all companies and if as a client you are not doing your own research, then some of the blame must lie with yourself. For a 1. All the while, IG compliance insisted he did nothing wrong…Huh? Now my parents have died, the executor and the lawyer have been trying to get information- for nearly a year. We cashed in at thousand so the interest and fees had taken the 32 thousand above the loan payment. Be careful folks. The company may choose to reduce, suspend, or eliminate its dividend, a move which often sends share prices down. Non-qualified investments — Examples: shares in private holding companies, foreign private companies and real estate Estate The total sum of money and property you leave behind when you die. The funds you buy are virtually the same thing everywhere depending on your options for funds. That is a known fact. Im sure someone will have a witty comment about MFDA regulations and fees and compare it to diy investing, but I will close here, if your main concern is fees and MERs and your the type of person who will pull there money out if it goes down, then self invest, hell, buy this guys book, because you will never be happy at IG or with most advisors for that matter, if your the type of person who doesnt want to have to learn about investing and actively manage your portfolio, then do your research and dont pick a company, pick an advisor, and pick one that discloses everything upfront, doesnt promise anything, except to act in your best interests and do what is right for you. I am a middle aged woman with a sizeable portfolio, because I have been investing since my mid 20s.
I just want there to be some transparency in the market. If you still have more questions, contacting their customer service could give you more specific help. FT on January 1, at pm. The more money you take out the less he makes… Just saying, basic incentives at play. Start saving. If you want to trade a relatively small amount of time for hundreds of thousands in sacrificed returns over the course of your lifetime, you are at least getting something. Remember, your safety is as important to them as it is to you. The information given here by Young, Teacher and others like them is very very valuable advice for. A Questrade review for To get coinbase market volume how to buy bitcoins with linden dollars fee rebate, send a copy of the statement from your financial institution showing the transfer fee you were charged within 60 days of submitting your transfer request to Questrade. I asked him if there was anything we could do to lower that algo trading python library price action trading strategies youtube, he of coarse said NO. As much as a mechanic can gouge someone its never worth risking your life to save a few dollars per year or maybe a couple of thousand in your life.
Had a really bad situation last summer with dishonesty in their office and complained to corporate. Hi DJ, great question. For some people, this is a huge perk, others could care less. Should I hold onto it for a bit longer, or just sell it and put the proceeds into an ETF? The quickest and easiest way to figure out how Questwealth compares to other robo advisors in Canada is to look at the basics: the fees and the minimum investment requirement. Thanks for your reply. Financial planning isnt about how high MERs are whos products are better, if thats your main concern, then open a self directed account and do as teacher man says, do the research yourself, and give yourself a basic understanding of finance. Now my parents have died, the executor and the lawyer have been trying to get information- for nearly a year. People have the do it your self mentality, sure we are all egotists we all think we are capable of doing things with our vast and comprehensive knowledge in the field right? The research conducted for this took place between November and January and analyzed customer experiences, relationships, and overall satisfaction with 8 self-directed firms within Canada. Total transparency and at a much more reasonable fee than any managed mutual fund.
I wish you all the best. Questwealth Portfolios. Yes the division managers and regional director make an excellent living off your assets…. We transfered in some of our rsp,s and the ball was rolling. Hope this helps! Branch managers are not able to thoroughly investigate every trade, can you imagine how much time it would take to phone every single client and ask them if this is exactly what they wanted to do? Questwealth Portfolios Review. ETFs are adjustable to different investing styles and risk profiles. Im not an IG consultant, but I am a consultant. Earn up to 10, welcome bonus points in the first 90 days. We're letting you know because it's the right thing to do. Bail now or wait and see? They also offer commission-free stock and ETF trading , which is probably the best thing about Questrade. Sounds like a good trade. I would reccomend doing your research before making any descisions or jumping into financial planning as a proffession.