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I have rrsp sin segregated mutual funds with Canada life…

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Hi I have rrsp sin segregated...
Hi
I have rrsp sin segregated mutual funds with Canada life would I be better off switching these over to a bank such as RBC because of fees
Brian
Submitted: 8 months ago.Category: Finance
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Answered in 18 minutes by:
12/16/2017
Financial Professional: Carter McBride, Financial Advisor replied 8 months ago
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,313
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and would be glad to help you out with this.

There are a couple of factors you need to consider with investments. Fees is definitely one of them. The most important thing you would want to look at is the return on investment. Using hypotheticals, if your RRSP returns 7% without factoring fees and the fee is 2% of assets, then your actual rate of return will be lower than the 7%. If you go to RBC and get a 6% rate of return without factoring in fees, and they charge 1% of assets, then your return is greater at RBC.

Best thing you can do is get a copy of your investment statement and take that to a bank or a wealth management adviser and they can run an analysis on how much you are paying in fees vs. what you could be paying in fees under their management.

Hope that helps. Let me know if you have any questions on this. If not, please leave a rating. Thanks!

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Financial Professional: Carter McBride, Financial Advisor replied 8 months ago

Hey! I just wanted to follow up and see if you have any other questions. If not, please leave a rating. Thanks!

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