Quote:
Originally Posted by mrkajz44
This might be the wrong thread since everyone in here is an active trader, but I figured the knowledge here would be a good place to start.
In short, I'm looking for a new place to invest my money.
I am currently with TD's mutual funds, using their eSeries products, but some of them are getting discontinued and TD is getting progressively more annoying over the years when I try to do anything (every time I buy more funds with them right now they continually try to contact me and tell me to come to the branch to discuss my "profile"). I know mutual funds are more expensive so I'm looking to move to ETFs now. I have very few transactions - less than 10 per year at most. My transactions are either to buy some more funds, usually in lumps of $5k - $10k, or to sell in order to fund a big purchase in my life, like a car or home renos. I've been rebalancing my investments by slightly altering my purchases over time.
Suggestions for the best place to do this? I wouldn't mind staying at TD since my other money is already there, but not sure if there are options where they are less involved and I can just manage things myself? Are Weathsimple or Questrade reasonable options? Just not sure where to go.
|
Disclosure: I'm with Questrade. I only buy ETFs.
Right now, I would probably recommend Wealthsimple cos buying and
selling ETFs are free. With Questrade you'll have to pay when selling. WS mobile app is much nicer than QT, but QT is coming out with an upgrade soon.
Honestly, if you're just buying ETFs and holding long-term then you can't really go wrong with either. I personally believe that QT will eventually get rid of fees when selling ETFs so that they can compete with WS. But then again it's such a small fee, I wouldn't worry about it.
ETA: To Fuzz's point, roboadvisors are excellent too.