Which online broker can self-configure scheduled fund investment?

Jan 24th, 2021 12:39 pm

#1

bigbug [OP]: Deal Addict; Feb 12, 2004; 1599 posts; 204 upvotes

Jan 24th, 2021 12:39 pm

Which online broker can self-configure scheduled fund investment?

I have mutual fund investments with TD Mutual Fund (at the branch) and TD Direct Investment (broker).

TD Mutual Fund has a good feature that you can setup your pre-authorized investments online on a timely basis, but only TD funds are available. With TDDI you can buy any funds, but you have to call in to setup or change any scheduled investments. The wait time is horribly long each time I called in to make changes.

Can anyone recommend a broker that you can setup scheduled investments online and trade any funds?

Last edited by bigbug on Jan 24th, 2021 4:21 pm, edited 1 time in total.

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Jan 24th, 2021 12:42 pm

#2

smartie: Deal Fanatic; Dec 5, 2006; 9573 posts; 4774 upvotes; Markham

Jan 24th, 2021 12:42 pm

bigbug wrote: ↑ Currently I have mutual fund investments with TD Mutual Fund (at the branch) and TD Direct Investment (broker).

TD Mutual Fund has a good feature that you can setup your per-authorized investments online on a timely basis, but only TD mutual funds are available. With TDDI you can buy any funds, but you have to call in to setup or change any scheduled investments. The wait time is horribly long each time I called in to make changes.

Can anyone recommend a broker that you can setup scheduled investments online and trade any funds?

Hi

I have self directed investment with td Canada trust. Do you mean i can schedule to purchase say index fund as say weekly as pre determined amount? Like buy 100 index fund on every Wednesday until dec 31st?

Thanks

Jan 24th, 2021 12:51 pm

#3

joshnet: Deal Addict; Jan 16, 2007; 1318 posts; 1487 upvotes

Jan 24th, 2021 12:51 pm

I know that CIBC Investor's Edge (I don't use them) allows you to manage mutual fund systematic investments online. I asked about it in another thread a few months ago.

🏦 Banking: Alterna Bank (1.1%, No fees), Motive Financial (1.25%, No fees)
📈 Investing: Scotia iTRADE (XGRO, No fees)
💳 Spending: Scotia Amex Gold (5pts dine/3pts drive, forex), Amex SCP (2%, rest), Brim World Mastercard (1.5%, non-Amex spend)

Jan 24th, 2021 1:30 pm

#4

bigbug [OP]: Deal Addict; Feb 12, 2004; 1599 posts; 204 upvotes

Jan 24th, 2021 1:30 pm

smartie wrote: ↑ Hi

I have self directed investment with td Canada trust. Do you mean i can schedule to purchase say index fund as say weekly as pre determined amount? Like buy 100 index fund on every Wednesday until dec 31st?

Thanks

Yes you can. As I said above, you have to call customer service to have it setup. It's a very tedious and painful process. Last time I had to wait for 1 hour and talked for another hour just to add 2 funds to the schedule.

Jan 24th, 2021 1:32 pm

#5

bigbug [OP]: Deal Addict; Feb 12, 2004; 1599 posts; 204 upvotes

Jan 24th, 2021 1:32 pm

joshnet wrote: ↑ I know that CIBC Investor's Edge (I don't use them) allows you to manage mutual fund systematic investments online. I asked about it in another thread a few months ago.

Can you post the link? Thanks

Jan 24th, 2021 1:36 pm

#6

smartie: Deal Fanatic; Dec 5, 2006; 9573 posts; 4774 upvotes; Markham

Jan 24th, 2021 1:36 pm

bigbug wrote: ↑ Yes you can. As I said above, you have to call customer service to have it setup. It's a very tedious and painful process. Last time I had to wait for 1 hour and talked for another hour just to add 2 funds to the schedule.

Thanks

Jan 24th, 2021 2:09 pm

#7

joshnet: Deal Addict; Jan 16, 2007; 1318 posts; 1487 upvotes

Jan 24th, 2021 2:09 pm

bigbug wrote: ↑ Can you post the link? Thanks

I could not find it, but from https://www.investorsedge.cibc.com/en/t ... trade.html

You can also place mutual fund trades by establishing a Regular Investment Plan, which allows you to buy or sell a specified dollar amount of mutual fund units at a selected frequency. From Trading in the left-hand menu, select Regular Investment Plan.

🏦 Banking: Alterna Bank (1.1%, No fees), Motive Financial (1.25%, No fees)
📈 Investing: Scotia iTRADE (XGRO, No fees)
💳 Spending: Scotia Amex Gold (5pts dine/3pts drive, forex), Amex SCP (2%, rest), Brim World Mastercard (1.5%, non-Amex spend)

Jan 24th, 2021 2:24 pm

#8

sleepyguy: Deal Fanatic; Jun 11, 2001; 9368 posts; 1534 upvotes

Jan 24th, 2021 2:24 pm

WealthSimple is super easy to setup direct deposits and scheduled deposits. Although I prefer to trade on my own with InvestorLine, I do have a WS account open as they had a $100 promo for $500 deposited... I'm no chump to pass on free money

bigbug wrote: ↑ I have mutual fund investments with TD Mutual Fund (at the branch) and TD Direct Investment (broker).

TD Mutual Fund has a good feature that you can setup your per-authorized investments online on a timely basis, but only TD funds are available. With TDDI you can buy any funds, but you have to call in to setup or change any scheduled investments. The wait time is horribly long each time I called in to make changes.

Can anyone recommend a broker that you can setup scheduled investments online and trade any funds?

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