Investors Group, Highest Fees in Canada.
Many people today hire financial planners to assist them in managing their savings and that’s a good thing.
What’s not a good thing is the fees associated with some firms. Recently The Globe published an article about Investors Group and I was taken back once I read it.
I had been with them for 20 years and wanted to believe that I had made a sound decision in doing so. Apparently I was wrong. I honestly can’t remember being told that I had to pay to invest with them, pay an annual fee for managing my account and then pay to retrieve my own money should I need to access it or move it. I was speechless when I called their head office and found out how much it would cost to move my investments away from Investors Group. But hten you need to stop the bleeding at some point.
It took some effort to get several opinions on my portfolio, but in the end I found an institution that I feel has lower fees and far more choice in types of investments offered. I am writing this article today so you too can see if you are making the right decision about who helps you plan your financial future. If you are looking for a new firm to deal with ask about fees right up front. If you have investments now and want to move them one day, you need to find out if there are fees to do so. I am including links to the article that made me take a closer look at who I trusted to manage my own portfolio. It was published in the Globe and Mail.
It’s your money and it’s your future. Be a wise investor!