The Facts
You Have Better Options
Canada has the highest mutual fund fees in the world! The average Canadian mutual fund fee of 2% means you could be missing out on over a third of your potential growth every year. Learn more about how fees reduce your returns
Expensive investing fees are easily avoidable and there's no reason for Canadians to pay them other than the fact they haven't been educated about low cost alternatives like roboadvisors
View my quick-switch guide to find a low cost method that's right for you or book a free consultation for personalized recommendations. If you find a great method don't forget to InvestItForward by sharing it with others.
Fact 1
Fact. 2
Financial Advisors Have Conflicts Of Interests
Financial Advisors routinely do not recommend people the best products for their situation. Many financial advisors only recommend products their firm sells! The financial advisor can earn a commission upon those sales and also get paid yearly through "trailing commissions". Advisors who are employed by large financial institutions have undeniable conflicts of interest. My Cost-Based Investing seminar investigates this phenomenon in depth with extensive examples.
Fact 3
Fees hurt overall growth
The relationship between fees and returns is another focus of my Cost-Based Investing seminar. I prove that the vast majority of advisor sold mutual funds do not perform as well as low cost alternatives despite charging much more!
Look at the visual example below to understand the ratio of fees compared to an example return. Financial institutions charge large fees to invest your money, at no risk to them because they get paid whether or not you earn a positive return. If you lose money that year, they still charge you their fees in full. It's not a mutual relationship, it's parasitic.
[Example A] Market Return of 7%
[Example B] Market Return of 4%
Summary
It's very common to believe financial advice from investment firms is free for Canadians. This is definitely not the case; Costs can be massive costing Canadians over 30% of their retirement.