Stocks - The Best Buys 2

[DoubleK]

Originally Posted by mrkajz44

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.

If you sign up at Questrade, I'll volunteer to share what I've learned over the past two years with you.

I transferred from TD so can help you there too.

[CliffFletcher]

Originally Posted by mrkajz44

In short, I'm looking for a new place to invest my money.

You’re not still using mom and dad’s guy, are you?

[mrkajz44]

So 3 votes for QT so far? I'm assuming you guys already considered how awful their TV ads are and still picked them? I think WS is pretty new though, so maybe you guys just had QT from a long time ago?

Just a few more questions if you guys will indulge me:

I've read a few things about inactivity fees on QT, but it's a bit sparse and I'm not sure it's accurate. Is there anything to worry about there if I don't do anything for 1-2 years at a time?

I'm seeing lots of comments that QT is better for USD investments since they only charge the conversion fee commission one way - is that correct compared to WS? It seems like you would have to pay to convert to USD with QT when buying, but then you can sell and keep it in USD (or receive a dividend), whereas WS is a commission both ways since you can't hold USD. Am I thinking of that correct?

It seems the general consensus online is WS is better for buying and holding long term whereas QT is better for more active trading. Is there any real truth to this? It seems this recommendation comes from the fact that QT has better real time trading tools vs WS.

I would be able to have an "upgraded" plan with WS as I'll bring enough money over to them such that the management fees would be around half of QT. Since both sets of fees are really low anyway, so this be a factor in my decision? Seems like it might only be a few hundred bucks difference each year.

Thanks all! I won't clog up the thread anymore after this.

[Krovikan]

Originally Posted by mrkajz44

So 3 votes for QT so far? I'm assuming you guys already considered how awful their TV ads are and still picked them? I think WS is pretty new though, so maybe you guys just had QT from a long time ago?

Just a few more questions if you guys will indulge me:

I've read a few things about inactivity fees on QT, but it's a bit sparse and I'm not sure it's accurate. Is there anything to worry about there if I don't do anything for 1-2 years at a time?

I use QuesTrade as well, and it looks like QuesTrade no longer charges for inactivity, I honestly never had an issue with their inactivity fee. When I was at this point, I just transferred in money regularly and bought an ETF.

(https://www.questrade.com/pricing/se...administrative)

I was at QTrade, what a mess that platform is; QuestTrade and Interactive Brokers were the only two I really looked at, don't think WS was well marketed at that time. QuesTrade seemed simpler and IB seemed overwhelming, so I went with QuesTrade.

Looking at WealthSimple later on, there was no need to switch, and their website doesn't give me the information I need. Maybe one day I'll look at their fee structure and open a small account with them, as Crypto access locally would be nice. (Though I doubt they compete with Binance's locked-in savings).

[Fuzz]

I don't watch commercials...


My brother is with WS, so I figured I'd try QT to see how they compare...but we haven't compared notes.


I thought WS's fees for robo advisors were slightly higher, but I could have that wrong. I'm sure both are going to come out extremely similar in the end, given your low activity plan. Probably can't go wrong on either platform.

[Izzle]

Originally Posted by mrkajz44

So 3 votes for QT so far? I'm assuming you guys already considered how awful their TV ads are and still picked them? I think WS is pretty new though, so maybe you guys just had QT from a long time ago?



Just a few more questions if you guys will indulge me:



I've read a few things about inactivity fees on QT, but it's a bit sparse and I'm not sure it's accurate. Is there anything to worry about there if I don't do anything for 1-2 years at a time?



I'm seeing lots of comments that QT is better for USD investments since they only charge the conversion fee commission one way - is that correct compared to WS? It seems like you would have to pay to convert to USD with QT when buying, but then you can sell and keep it in USD (or receive a dividend), whereas WS is a commission both ways since you can't hold USD. Am I thinking of that correct?



It seems the general consensus online is WS is better for buying and holding long term whereas QT is better for more active trading. Is there any real truth to this? It seems this recommendation comes from the fact that QT has better real time trading tools vs WS.



I would be able to have an "upgraded" plan with WS as I'll bring enough money over to them such that the management fees would be around half of QT. Since both sets of fees are really low anyway, so this be a factor in my decision? Seems like it might only be a few hundred bucks difference each year.



Thanks all! I won't clog up the thread anymore after this.

I'll try to answer your questions from my perspective.

I was with QT well before their ads lol. I didn't switch to WS cos I'm lazy. If I had to open a brokerage today I'd probably go with WS.

Inactivity: I pretty much buy biweekly so have not really looked into any inactivity fees. Just checked their website and they don't charge anything for inactivity.

Currency exchange: I only buy Canadian ETFs so I have no insight into converting USD.

Active trading: again, I can't comment and I'm pretty agnostic to the market gyrations. I simply buy biweekly and hold long-term.

Re your last question, just wanted to clarify that you're talking about Wealthsimple Invest - this is their roboadvisor platform and yes they charge slightly higher fees. The equivalent product at Questrade is called Questwealth. WS also has Wealthsimple Trade where you can buy and sell ETFs for free. The only cost would be what the ETF themselves charge. In the end, it's a minor cost.

[DoubleK]

If you plan on buying anything in USD it's QT over WS.

I can show you how to perform Norbert's Gambit to avoid paying through the nose to convert currency.

National Bank has recently spun up their discount brokerage and apparently it's good on fees and allows you to hold USD, take that with a grain of salt, I haven't investigated it at all.

If you plan on being a BSD and trading options and the like or using margin, you are best served by looking at IBKR.

[bizaro86]

Originally Posted by DoubleK

If you plan on buying anything in USD it's QT over WS.

I can show you how to perform Norbert's Gambit to avoid paying through the nose to convert currency.

National Bank has recently spun up their discount brokerage and apparently it's good on fees and allows you to hold USD, take that with a grain of salt, I haven't investigated it at all.

If you plan on being a BSD and trading options and the like or using margin, you are best served by looking at IBKR.

IBKR is also the best for anything outside of the US and Canada. Their currency exchange rates, option rates, and margin rates are all the best as well as mentioned.

I had a trade last year where I was exercising some puts I had bought. It was half in my LIRA which is at RBC direct investing (IBKR doesn't do LIRAs) and half in my non-reg at IBKR. The fee at RBC was over $200 to exercise the puts - IBKR did it for free.

But it is more complicated and harder to learn. If you just want to buy ETFs and rebalance IBKR isn't the best choice.

**Full disclosure: I'm a happy enough customer that I bought IBKR shares.

[mrkajz44]

Originally Posted by Fuzz

I don't watch commercials...


My brother is with WS, so I figured I'd try QT to see how they compare...but we haven't compared notes.


I thought WS's fees for robo advisors were slightly higher, but I could have that wrong. I'm sure both are going to come out extremely similar in the end, given your low activity plan. Probably can't go wrong on either platform.

Yeah, I'm thinking this as well based on all the answers. Thanks for all the help CP!

[Dude Where's Makar?]

Hello CP members - I'm a relatively new poster (long time lurker) and thought I would run a question or two by you.

I was lucky enough to win a 50/50 raffle for a decent chunk of change and will be having a meeting with a financial advisor for the best course of action. I'm trying to do as much research as possible, and was wondering if anyone had a recommendation on a ETF that projects to have good growth/dividend in the next 5 years?

I have my first child on the way and want to start taking more financial responsibility. Just thought I'd check in with a few more experienced minds on what they invest in / project as good longterm growth.

[bluejays]

Originally Posted by Dude Where's Makar?

Hello CP members - I'm a relatively new poster (long time lurker) and thought I would run a question or two by you.

I was lucky enough to win a 50/50 raffle for a decent chunk of change and will be having a meeting with a financial advisor for the best course of action. I'm trying to do as much research as possible, and was wondering if anyone had a recommendation on a ETF that projects to have good growth/dividend in the next 5 years?

I have my first child on the way and want to start taking more financial responsibility. Just thought I'd check in with a few more experienced minds on what they invest in / project as good longterm growth.

Congrats on the life changing family to come. I'm not an advisor or anyone qualified, and don't follow ETF's enough to recommend anything, but I can't personally keep gravitating toward blue chip tech as time goes on. The big seem to keep getting bigger, exasperated by the pandemic, and I think it continues based on the large amount of money they have for R&D. Again though, listen to an advisor because follow this thread and you'll see the hits and misses.

[Enoch Root]

Originally Posted by Dude Where's Makar?

Hello CP members - I'm a relatively new poster (long time lurker) and thought I would run a question or two by you.

I was lucky enough to win a 50/50 raffle for a decent chunk of change and will be having a meeting with a financial advisor for the best course of action. I'm trying to do as much research as possible, and was wondering if anyone had a recommendation on a ETF that projects to have good growth/dividend in the next 5 years?

I have my first child on the way and want to start taking more financial responsibility. Just thought I'd check in with a few more experienced minds on what they invest in / project as good longterm growth.

It depends on your personal situation, which is why i don't like blindly giving advice on the internet.

But if the amount you won is 5 digits, and you are comfortable taking care of it yourself, I would suggest you buy a market ETF, like the Vanguard equity fund (VEQT).

If it is 6 digits, I would suggest you talk to an advisor. Because there are real consequences to making mistakes. And tax considerations start to become very important.

If it is 7 digits, you should DEFINITELY talk to an advisor.

Also, congrats!

[Dude Where's Makar?]

Hey thanks guys! I'll take a look at the Vanguard Equity a bit more. I have come across it before, but haven't spent enough time researching.

Appreciate the responses. I'll definitely still sit down with an advisor.

Thanks again!

[monkey brewery]

Any thoughts on Sundial's plan to purchase Edmonton-based Alcanna in all stock? Sundial trades at something like 70 cents, so I'm thinking the dilution of shares is going to be huge.

I've been holding Alcanna since mid-2019, and am up about 90%. I don't follow the cannabis business, I don't really understand it, so I'm probably just going to take my profits and run. My advisor recommends the same, and I trust his judgement far more than my own.

[FurnaceFace]

Sound advice. I think if you’re currently positive in that industry then sell and don’t look back.

[InternationalVillager]

For those who want a new broker. Switch to Interactive Brokers. Cant be beat.

[PaperBagger'14]

Etmc (AB based lithium extraction company) has been killing it for me, up 33% in 2 weeks

[The Fonz]

SLHG.v up 54% since Oct 6th, closed at $4.08 today.

Northland Capital Markets, as well as a few others, has initiated coverage @ $10-11.50 (adjusted to CDN$).

[Enoch Root]

but still down 50% since mid-May

just sayin'

[Samonadreau]

Originally Posted by Dude Where's Makar?

Hello CP members - I'm a relatively new poster (long time lurker) and thought I would run a question or two by you.

I was lucky enough to win a 50/50 raffle for a decent chunk of change and will be having a meeting with a financial advisor for the best course of action. I'm trying to do as much research as possible, and was wondering if anyone had a recommendation on a ETF that projects to have good growth/dividend in the next 5 years?

I have my first child on the way and want to start taking more financial responsibility. Just thought I'd check in with a few more experienced minds on what they invest in / project as good longterm growth.

Max out your TFSA first for sure. You can do self directed (buying stocks including ETF's yourself) or put in a mutual fund if you really want to set it and forget it and not have to do anything. But definitely look into TFSA.

Your advisor will know how much you can put in this year if you have never put into one.