Personal Finance

Which online broker can self-configure scheduled fund investment?

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  • Jan 24th, 2021 2:24 pm
[OP]
Deal Addict
Feb 12, 2004
1599 posts
204 upvotes

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.
7 replies
Deal Fanatic
Dec 5, 2006
9573 posts
4774 upvotes
Markham
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
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Jan 16, 2007
1318 posts
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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.
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[OP]
Deal Addict
Feb 12, 2004
1599 posts
204 upvotes
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.
[OP]
Deal Addict
Feb 12, 2004
1599 posts
204 upvotes
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
Deal Fanatic
Dec 5, 2006
9573 posts
4774 upvotes
Markham
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
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User avatar
Jan 16, 2007
1318 posts
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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)
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Jun 11, 2001
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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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