How to spot a shady sales pitch.
Misery loves company. Canada has competition in the land of mutual fund fees.
Canada is still one of the worst with respect to mutual fund fees,
Conquer the fear of Self Directed Investing & save up to 45% on Mutual Fund Fees
Many Canadian Mutual Funds have a "series" of exactly the same funds for sale through discount online brokers, and at fees (Management Expense Ratio or MER) about a full 1 per cent lower than what they charge when the same fund is bought through banks or commissioned brokers or advisers.
89% of Managed Mutual Funds are ripping off investors
Over a ten year period, 89% underperformed their comparative index.
‘I feel duped’: Why bank employees with impressive but misleading titles could cost you big time.
Most financial professionals in Canada are licensed as salespeople with no fiduciary duty to clients. Most bank "Advisors" (not the same as Financial Advisers believe it or not) are basically salespeople with little training who are rewarded for selling over priced bank mutual funds.
