The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Do you need a planner if you’re a DIY investor?
– moneysense.ca
In today’s digital age, there’s an increasing number of Canadians who choose do-it-yourself investing. Online brokerages and low-cost trading platforms allowed for a new style of investing to emerge: a new generation of DIYers. We’ve seen a shift in the financial planning industry. Well, self-management can offer Canadians a feeling of control, but it also comes with significant and often underestimated risks. When planning for retirement, these risks can become very concerning.
I believe that to truly safeguard your long-term financial well-being, Canadian investors must look beyond short-term control and recognize the value of a planner—particularly for retirement planning.
Do-it-yourself investing: Is it better?
Many Canadian DIY investors take pride in being able to manage their portfolios, believing that lower account costs and direct control mean better results. However, in practice, DIYers may overlook crucial risk factors:
Making decisions based on emotions,
lack of diversification in their portfolio and
failure to adapt asset allocation to the complex and ever-evolving economy…
