Comments on: RBC Direct Investing and BMO InvestorLine Lower Commissions http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Price War Among Discount Brokers | Canadian Capitalist http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-297289 Price War Among Discount Brokers | Canadian Capitalist Wed, 03 Nov 2010 04:34:58 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-297289 [...] has been more than 3 years since the last round of discount broker price wars. At that time, TD Waterhouse first announced a low flat rate commission for clients with $100,000 [...] [...] has been more than 3 years since the last round of discount broker price wars. At that time, TD Waterhouse first announced a low flat rate commission for clients with $100,000 [...]

]]> By: BMO InvestorLine Trading Glitches | MoneySense http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-223088 BMO InvestorLine Trading Glitches | MoneySense Tue, 01 Jun 2010 11:44:35 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-223088 [...] RBC Direct Investing and BMO InvestorLine Lower Commissions [...] [...] RBC Direct Investing and BMO InvestorLine Lower Commissions [...]

]]> By: Million Dollar Journey http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-153137 Million Dollar Journey Thu, 04 Sep 2008 15:53:57 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-153137 Would the 1% benefit be considered taxable income? Would the 1% benefit be considered taxable income?

]]> By: Adieu to Questrade http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-75280 Adieu to Questrade Thu, 01 Nov 2007 00:53:28 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-75280 [...] accounts to Questrade to take advantage of their rock-bottom trading commissions. Since then, the bigger discount brokers (TD Waterhouse, BMO InvestorLine and RBC Direct Investing) have reduced comm... for some of their clients. Since we already have our RRSP accounts with TD Waterhouse and qualify [...] [...] accounts to Questrade to take advantage of their rock-bottom trading commissions. Since then, the bigger discount brokers (TD Waterhouse, BMO InvestorLine and RBC Direct Investing) have reduced comm… for some of their clients. Since we already have our RRSP accounts with TD Waterhouse and qualify [...]

]]> By: Outroupistache http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69502 Outroupistache Wed, 03 Oct 2007 13:55:17 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69502 Further to comment #6 by Phil S, BMOIL will also include trust accounts within a total control value for calculating the $100k base to get the cheaper trading fees. Further to comment #6 by Phil S, BMOIL will also include trust accounts within a total control value for calculating the $100k base to get the cheaper trading fees.

]]> By: NeverStopBuying.com http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69189 NeverStopBuying.com Mon, 01 Oct 2007 15:57:20 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69189 You can actually consider discretionary investment if you have over $100K portfolio, like CIBC Wood Gundy, etc.. TD Waterhouse requires $300K before they'll talk to you, unless you know someone or get a referral. Note: standard commission is 2%, unlimited trade I know, it's probably against the DIY investment of ETF/MF, but when you have over $100K, it may be a bit different I do applaud TDW for leading the movement, but not yet abandoing Questrade yet You can actually consider discretionary investment if you have over $100K portfolio, like CIBC Wood Gundy, etc..
TD Waterhouse requires $300K before they’ll talk to you, unless you know someone or get a referral.
Note: standard commission is 2%, unlimited trade

I know, it’s probably against the DIY investment of ETF/MF, but when you have over $100K, it may be a bit different

I do applaud TDW for leading the movement, but not yet abandoing Questrade yet

]]> By: Jon D. http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69180 Jon D. Mon, 01 Oct 2007 14:35:49 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69180 Phil, I wasn't talking about the commissions to purchase Fund units, but rather the MER of the Fund its self. Yes, I am aware that most brokerages don't charge to purchase units, but I won't get into the discussion here about diversification. Phil, I wasn’t talking about the commissions to purchase Fund units, but rather the MER of the Fund its self. Yes, I am aware that most brokerages don’t charge to purchase units, but I won’t get into the discussion here about diversification.

]]> By: Phil S http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69179 Phil S Mon, 01 Oct 2007 14:27:13 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69179 For anybody starting out who asks me for advice, I usually advise them to stick with mutual funds until their portfolio gets up above $100K in size. In my opinion, once you get above $100K, THEN you can buy shares in $10K to $20K chunks and make individual picks and remain reasonably diversified (5 to 10 picks). If they prefer ETFs, then it would make start to make sense sooner, such as at between $25K and $50K in portfolio size. For anybody starting out who asks me for advice, I usually advise them to stick with mutual funds until their portfolio gets up above $100K in size. In my opinion, once you get above $100K, THEN you can buy shares in $10K to $20K chunks and make individual picks and remain reasonably diversified (5 to 10 picks). If they prefer ETFs, then it would make start to make sense sooner, such as at between $25K and $50K in portfolio size.

]]> By: Phil S http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69178 Phil S Mon, 01 Oct 2007 14:18:33 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69178 Jon D. At BMO Investorline, you can buy many mutual funds without transaction fees. So, if you have a small portfolio, you can still use an Investorline account, but you can avoid the trading commissions by buying mutual funds. You're not pigeonholed into the bank's own mutual funds in a self-directed account - you can buy pretty much whatever. A few of the mutual funds charge transaction fees and stuff, so a beginner investor with a small portfolio should ask which mutual funds are no-load, of course. In my humble opinion, people who have small investment portfolios should stick to mutual funds anyways in order to have some diversification! I don't think anyone would advocate to anyone with, say, $10K to invest - to put it all in 200 shares of ONE stock - even if it is, say, Scotiabank. That would be insanely UNdiversified. TD Waterhouse has many e-funds which are low relatively low MER. BMO's mutual funds are going to a fixed expense model, so as the NAV goes up, the fees go down. I'm assuming that it's basically the same case in all of the other discount brokerages. Jon D.

At BMO Investorline, you can buy many mutual funds without transaction fees. So, if you have a small portfolio, you can still use an Investorline account, but you can avoid the trading commissions by buying mutual funds. You’re not pigeonholed into the bank’s own mutual funds in a self-directed account – you can buy pretty much whatever. A few of the mutual funds charge transaction fees and stuff, so a beginner investor with a small portfolio should ask which mutual funds are no-load, of course.

In my humble opinion, people who have small investment portfolios should stick to mutual funds anyways in order to have some diversification! I don’t think anyone would advocate to anyone with, say, $10K to invest – to put it all in 200 shares of ONE stock – even if it is, say, Scotiabank. That would be insanely UNdiversified.

TD Waterhouse has many e-funds which are low relatively low MER. BMO’s mutual funds are going to a fixed expense model, so as the NAV goes up, the fees go down.

I’m assuming that it’s basically the same case in all of the other discount brokerages.

]]> By: Jon D. http://www.canadiancapitalist.com/rbc-direct-investing-and-bmo-investorline-lower-commissions/#comment-69170 Jon D. Mon, 01 Oct 2007 13:20:34 +0000 http://www.canadiancapitalist.com/2007/09/30/rbc-direct-investing-and-bmo-investorline-lower-commissions#comment-69170 Those with less assets, in other words, most people just starting out investing, are usually pushed towards the high-fee in-house mutual funds. In Bankspeak, "Balanced Funds" which perform no better than the comp. index, yet slice off a few points in returns each year in MER fees. Those with less assets, in other words, most people just starting out investing, are usually pushed towards the high-fee in-house mutual funds. In Bankspeak, “Balanced Funds” which perform no better than the comp. index, yet slice off a few points in returns each year in MER fees.

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