@dyvinka So essentially a broker takes a fee or a commission from your investment. This may be a once off or ongoing payment to the broker. I have been done in by brokers before, so I do have a bias against them. It's hard to tell if they have your best interests at heart. If we looks back at the financial collapse in 2008, don't think that brokers were not compensated for selling crap to unwary investors.
Using sygnia as an example(It's where most of my investments are - full disclosure) The fees are low, they have alot of products available. They have an adequate site where I can see my performance of various products. The CEO is also big on low fees for investors.
I foolishly used liberty earlier in my career. I would receive a yearly mail: This is the value of you RA. It did not give any indication of it's performance. Also, at the time, no clear indication of the fees as they exclusively sold via brokers. As I mentioned early, I was done in my brokers at liberty. Went to the ombud and at least got some money from them, which I then promptly moved my RA from them.
TFSA you can only contribute R36K per year, so that will be an ongoing investment over his career.
Using sygnia as an example(It's where most of my investments are - full disclosure) The fees are low, they have alot of products available. They have an adequate site where I can see my performance of various products. The CEO is also big on low fees for investors.
I foolishly used liberty earlier in my career. I would receive a yearly mail: This is the value of you RA. It did not give any indication of it's performance. Also, at the time, no clear indication of the fees as they exclusively sold via brokers. As I mentioned early, I was done in my brokers at liberty. Went to the ombud and at least got some money from them, which I then promptly moved my RA from them.
TFSA you can only contribute R36K per year, so that will be an ongoing investment over his career.