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Investing for the Newby

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Investing for the Newby

Postby Corneliousrooster » Dec 20th, 2017, 1:19 pm

I am finally in a position in life where i will some additional income that outweighs my expenses so i am wanting to start taking investments a little more seriously.

I have opened a TFSA and have started an RESP for my child as well as a conservative mutual fund portfolio with BMO.

I have started watching the individual funds within the mutual fund and have opened a few funds to invest directly into them.

I am not a big fan of the BMO investments as the management fees are very high and I don't feel like i have much control over where the funds get dispersed. Every time I try to put money in one or the other online i get a call from the bank saying that my "investment goal ratio" is unbalanced so they have to change my investment goal profile and then the next time i try another flag goes up somehow..... i don't find it very user friendly or easy.

I see Edwards jones all over the place - is this a good way to go? What is the recommended way that people invest? I am not a huge risk taker but I would like to make more than just having it sit in an account or the low rates that GIC's pay. i don't have huge amounts of time to be watching stocks but I do like to keep an eye on things and move money accordingly if i feel it would be performing better elsewhere.

A great example is that in some of the funds i have a large percentage is in bond funds - bond funds have not been doing well for quite some time - being they are in the "package" i have little control over that - i did see that some of the equity funds are doing well so i put separate money into them and they are way outperforming what my conservative portfolio is providing.

Any advice/opinions would be appreciated.
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Corneliousrooster
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Re: Investing for the Newby

Postby Bsuds » Dec 20th, 2017, 1:25 pm

Corneliousrooster wrote:Any advice/opinions would be appreciated.


My advise is don't take advise from a forum and find a financial adviser that you trust and go with what they say.
Find one who doesn't charge so much that you make no profit or what's the point.
Deja Poo, the feeling I've heard all this crap before!

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Re: Investing for the Newby

Postby Corneliousrooster » Dec 20th, 2017, 1:42 pm

Bsuds wrote:
My advise is don't take advise from a forum and find a financial adviser that you trust and go with what they say.
Find one who doesn't charge so much that you make no profit or what's the point.


There are a LOT of different financial advisors out there - I was hoping on some positive/negative feedback so I don't have to waste time "interviewing" or trying out multiple different ones. I am not asking for direct financial advice - I am just wondering if anyone can relay some positive experiences so I can head in that direction - or some negative experiences so I know where to avoid.
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