Investing

What are the top investment companies?

  • Last Updated:
  • Sep 5th, 2017 4:44 pm
[OP]
Member
Mar 26, 2017
270 posts
138 upvotes

What are the top investment companies?

Hi,

I am currently with wealth simple and I am not sure if I want to go on the long term with them.

I heard Edward Jones, Raymond James, Assante Wealth are great companies to deal with but they charge so much in fees.

I am investing $5,000 a month... and I don't trust myself to do my own investments :p I get too anxious.
22 replies
[OP]
Member
Mar 26, 2017
270 posts
138 upvotes
Yeah Porticoman, thats what I was referring to. Should I trust said companies that were mentioned in that article?
Deal Addict
Jul 27, 2017
1870 posts
721 upvotes
GTA
Gord18Stirr wrote:
Sep 4th, 2017 4:01 pm
Yeah Porticoman, thats what I was referring to.

Should I trust said companies that were mentioned in that article?
I don't know, it's going to be your personal decision

From that report, two things stick out, so it's do your own due-diligence

"Nearly Half of Investors Indicate Advisors Fail to Provide Basic Goal-Setting Advice"


Study Rankings

"Edward Jones ranks highest in investor satisfaction with full service investment firms in Canada for a fourth consecutive year, with a score of 802 on a 1,000-point scale. Edward Jones’ performance is highest across all four of the most critical factors driving satisfaction: financial advisor, account information, investment performance and product offerings. Following in the rankings are Raymond James Ltd. (779) and HollisWealth (776)."
Deal Addict
Jul 23, 2007
3768 posts
1549 upvotes
It certainly wouldn't be my first choice but if you can't handle running a low cost diversified portfolio on your own, then another option you may want to consider is a low MER balanced fund. Value investor Norm Rothery wrote an article on it last year.

How the best balanced funds are riding the bear market

I've been a DIY investor since the early 80's and I keep far, far away from expensive investment companies like the one's you mentioned above. The old truism still holds that nobody is going to look after your own money better than you.
Jr. Member
Feb 3, 2013
129 posts
52 upvotes
GREENWOOD
The key to answering your question is why don't you want to be with wealth simple long term?

For example: What service do you want that they don't offer?
[OP]
Member
Mar 26, 2017
270 posts
138 upvotes
sixcolors wrote:
Sep 4th, 2017 10:40 pm
The key to answering your question is why don't you want to be with wealth simple long term?

For example: What service do you want that they don't offer?
I want someone that can give us goals, coordinate which money should go where (RRSPs, TFSAs or what not) and what would work in our situation..
Deal Addict
Jul 27, 2017
1870 posts
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Gord18Stirr wrote:
Sep 5th, 2017 6:48 am
I want someone that can give us goals, coordinate which money should go where (RRSPs, TFSAs or what not) and what would work in our situation..
A financial planner/advisor/company could do that, just remember 'no one gives guarantees'. It's simply show you what's available, maybe suggest what they like, or with a robo-investor company you cherry pick & they get to revolve the investment. Both charge fees with zero guarantees.

Why not let RFD be your 'free service' financial consultant right here, right now.

Post your thoughts, what your short or long term goals are, risk/reward, the returns that you are looking for, the final dollar number that you are trying to achieve and/or retirement timeline.
[OP]
Member
Mar 26, 2017
270 posts
138 upvotes
We are both 29
My wife works and makes $85,000/yr
I currently make $40,000/yr


We have a $200,000 home paid off (we live someplace where houses aren't ridiculously priced)
$10,000 in Spousal RRSP
$1,000 in RRSP

We liquidated all of our savings to pay the house off asap as we don’t like debt.

We have $5,000 a month to save.

Our goal is to Semi-retire within 5 years, (work for 6-8 months out of the year) as both of our careers will allow that.
Fully retire whenever we just feel financially comfortable.
Banned
Aug 10, 2017
198 posts
119 upvotes
Mawer balanced (MAW104) is the do nothing, pay no one buy this mutual fund and forget about it.
averaged about 7.5% YoY since inception. It's a balanced fund so less volatile than others.
Won't hit a home run but you won't lose sleep owning this fund.
Deal Addict
Jan 20, 2016
2013 posts
977 upvotes
Houston, TX
cdndeal wrote:
Sep 5th, 2017 12:43 pm
Mawer balanced (MAW104) is the do nothing, pay no one buy this mutual fund and forget about it.
averaged about 7.5% YoY since inception. It's a balanced fund so less volatile than others.
Won't hit a home run but you won't lose sleep owning this fund.
rather MAW105 in his (non-reg) case...same as MAW104 but instead of distributions you'd get capital gain
Make the Trudeau drama teacher again!
Banned
Aug 10, 2017
198 posts
119 upvotes
asa1973 wrote:
Sep 5th, 2017 2:04 pm
rather MAW105 in his (non-reg) case...same as MAW104 but instead of distributions you'd get capital gain
yes. good call
Deal Addict
Jul 27, 2017
1870 posts
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GTA
OP, age 29 $200k personal property asset

RRSP $10,000 + $1000

Semi-retire horizon based on a 5 - 10 year plan with enough income to cover expenses

Questions for the OP before even suggesting where or what they should invest in

-What other assets do you have, savings, GIC/term deposits, investments either non-registered or TFSA?

- Do you have any short or long term liabilities?

- What are the open contribution limits available combined for the both of you for RRSP & TFSA?

- Percentage wise, what are your all-in yearly expenses to net income, in other words free cash flow. Throw in a dollar amount if need be?

- Are children factored into your plans?

- Will you be staying put in the property that you now live in & is it just the two of you occupying the property?

- Take the 5 - 10 year plan, what investment/passive income do you think you will need if both or one of you is working or not working at all (fully retired) to cover all expenses?
Deal Addict
User avatar
May 11, 2014
3011 posts
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Iqaluit, NU
Gord18Stirr wrote:
Sep 5th, 2017 12:21 pm
We are both 29
My wife works and makes $85,000/yr
I currently make $40,000/yr


We have a $200,000 home paid off (we live someplace where houses aren't ridiculously priced)
$10,000 in Spousal RRSP
$1,000 in RRSP

We liquidated all of our savings to pay the house off asap as we don’t like debt.

We have $5,000 a month to save.

Our goal is to Semi-retire within 5 years, (work for 6-8 months out of the year) as both of our careers will allow that.
Fully retire whenever we just feel financially comfortable.
I think your goals to semi-retire are somewhat difficult to do with so little time actually working. In your case, paying off the mortgage right off the top was a mistake as the interest rate you were likely paying was much lower than the return you would have gotten investing passively. From here on, 5 years of saving will amount to very little.

A general return of 6% per year for 5 years investing approximately $5K a month should yield $350k, and that is assuming you get 6%. Do you honestly think you can semi retire on that? $350K assuming 2% inflation and taking only $10K a year lasts only 27ish years. That doesn't seem like hardly enough.

First of all, you need to define how semi retirement to you would look like. How much would you both work, how much money do you need per year to be comfortable. Your 5 year plan honestly looks unrealistic. Also, I think you may become quite bored at that rate.

Even increasing the amount of years worked to 10 years saving $5K a month will increase your next egg to over $800K which will give you much more capital to work with.

What I recommend...

1)Decide how much money you need per month during you semi-retirement. You can use calculators to figure this out. One quick simple one is https://www.saskpension.com/wealth-calculator.php

2)Decide how much nest egg you require for one off purchases, emergencies and just to feel safe in addition to what is required during semi and full on retirement

3) What life goals do you guys have? Is it travel? Having children? You need to keep these costs in mind when you come with a plan.

Regardless what you want to do, the 5 year plan I think is out of reach. I think before you start considering where to invest, you need to define what your goals are first.

As for a plan, if quicker retirement (before 65) is wanted, maximizing RRSP contributions is the way to go in your case as you will have the opportunity to draw it down over a longer term.
Support your local Credit Union!

Sask Pension Plan Upto $6200/yr in Credit Card spending on RRSP contributions
http://forums.redflagdeals.com/sask-pen ... ns-2167222
[OP]
Member
Mar 26, 2017
270 posts
138 upvotes
porticoman wrote:
Sep 5th, 2017 2:24 pm
OP, age 29 $200k personal property asset

RRSP $10,000 + $1000

Semi-retire horizon based on a 5 - 10 year plan with enough income to cover expenses

Questions for the OP before even suggesting where or what they should invest in

-What other assets do you have, savings, GIC/term deposits, investments either non-registered or TFSA? Nothing really

- Do you have any short or long term liabilities? None

- What are the open contribution limits available combined for the both of you for RRSP & TFSA? We only have $10,000 contribution room each (RRSP) but our TFSA will restart next year (I don't know how much I put in and withdrew)

- Percentage wise, what are your all-in yearly expenses to net income, in other words free cash flow. Throw in a dollar amount if need be? It costs us $2000 to live/month and we clear $7500

- Are children factored into your plans? Will not be having kids

- Will you be staying put in the property that you now live in & is it just the two of you occupying the property? We will be moving into a smaller home/condo in the future (downsizing)

- Take the 5 - 10 year plan, what investment/passive income do you think you will need if both or one of you is working or not working at all (fully retired) to cover all expenses?
It will cost us between $2,000 to $2,500 a month to live and if we work 6-8 months out of the year we will still make more than enough to save cash.

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