Job Interview Online Practice Test Question hr secrets com

My interest in all things finance related all kind of started a few years ago when I went to a “free investment education session” from work sponsored by Investors Group. They were showing us these fancy charts about how your money can be compounded when held in. They asked each one of us in the session to put our names down so they can contact us personally afterward to arrange a free individual session- they told us repeatedly that they are “commission free” so I trusted them. Of course they never mentioned or compared their services other investment options such as discount brokerages like or (although they would have been pretty new at the time). I met my “ ” in one of the Investors Group fancy offices. The first thought that came to mind when I met my new adviser was that he looked like he was my age (repeat, I am 75-something). I was thinking to myself “ er… I’m entrusting my hard earned back breaking money to this guy? ” I asked him how many years he has been an adviser and I think he actually somehow managed not to answer my question by giving a circular question in return.

Eden Eternal dating invitation

Stocks Bloomberg

Anyway, he was telling me about their “Allegra Moderate Portfolio B” and how it has performed well and how I should put my money in it. He was trying to convince me to transfer over everything I had in other investment companies to Investors Group and into this “Allegra Moderate Portfolio B”, so I could have more “diversification”. Because mutual funds are diversified. I posed the question, so are you going to move my money out of this mutual fund if it isn’t performing up to par? He told me “I don’t have this kind of service for less than $65,555 of an investment” and then proceeded to try and convince me to move everything I had in other investments to Investors Group again. Of course, a couple of years later I now know yanking money in and out of funds as the markets go up or down is not a smart solution, but the fact that he didn't stop to educate me on these realities says a lot in my opinion. He and his associate were also really pushing the idea of leveraging: borrowing to invest, painting it as a “win-win” situation. It may be not too bad of an idea now with the interest rates at rock bottom, but the interest rates were way up there when I was working with investor's group a few years back. They were pretty pushy about it. No commission huh? (a few years back, I knew NOTHING about ) Apparently I learned afterward the higher the portfolio, the more commission the advisers get. AND their MER’s (management expense ratios: money they charge you to ‘manage’ the mutual fund- investor's group will get a cut, and the advisor will get a cut) are known to be quite high. They range from 7. 7% to 7. 9%. So even if you don’t make money or are losing money, you are losing even more money with the high MER! I also heard that they make more commission off larger portfolios (hence his trying to convince me to move my life savings into his hands) and that they make money by lending you money to invest (the leveraging piece of it). I learned my lesson- not to be bullied around with flashiness, pizazz, and salesperson speak.

I guess they aren't half bad, but I just didn't like their pushy style. I guess I realized I have a bit of a DIY mentality when it comes to personal finance. Even if you don't share my DIY mindset though, I really think that the time of high-fee advice has come and gone. You've got big banks and investment firms buying pieces of companies such as instead of doubling down on their mutual fund verticals (although the overall funds invested in mutual funds still dwarf these alternatives). Read the comments below for a thorough look at the debate on how financial professionals should get paid. All I know is that IG continues to charge some of the highest MER fees in an industry and non-coincidentally, they have oodles of money to put their name on everything from textbooks to new sports stadiums. Guess where all that money comes from guys? Here's to hoping that eventually,,, and the rest of the FinTech world force traditional companies (IG certainly isn't alone in their faults) to become a whole lot more competitive. Readers: Have you had experiences with Investor's Group or similar investment companies? Have they been positive or negative? Another university student here (U of Toronto), could you please let me know how much fine/fee they charged to transfer your RRSP a/c? It s quite fitting that a google search brought me to this entry because I have just begun to educate my financial knowledge (including MERs and mutual funds). I plan to move my parents RRSP from Investors Group to the TD eSeries fund. If your parents RRSP is sizable enough (and I hope it should be, since they are close to retirement), then you should contact TD and see if they can pay for the transfer out fee. MOST financial institutions will do this for you, even if the RRSP isn t THAT sizable. You should talk to the TD mutual fund rep and ask to transfer, then set up your own e-Series after transferring to a mutual fund account with TD bank. As for $655-855 fee, that seems too conservative to me (expecting 555). I would gladly pay that. I plan to call both IG and TD up this week and see what happens.

Conexus Credit Union Bill Payment Hints

Will keep you posted on the developments. =) Remember, setting up an E-series account takes some patience. =)I want to move some RRSP money In Kind from IG to BMO Investorline. How does one go about setting up an E-series account? It s easy- you just need to go to a BMO Branch and set up an Investorline account (the account manager will do the rest for you and transfer your money from Investors Group. . Usually Investors Group (or other institutions) charge a fee for you leaving, around $755 or so, but BMO should pay for it for you if you have enough funds. They might also throw in some Air Miles to you. Though you must be aware that self-managed portfolios like this will charge you $655 a year for a management fee for your RRSP. BMO investorline doesn t have an E series account it s TD Bank that has the E-series account. Hope that helps! Don t even get me started. My advisor from Investros Group is really very immature. I feel like I have to defend myself everytime I talk. Everytime I say something he would says my track record is flawless! Also there are lots of fees involved. My portfolio is charged based on DSE. Which means, you really can t take your money out at all until DSE expires. I am trying to be nice with them right now but I have stopped all my dealings. Hopefully I will find a different place to invest.

My husband has an old RRSP with Investors Group. It started with his union but his union then switched to London Life. He makes monthly contributions to Investors Group and of $655 and there is currently about $9555 in the RRSP. He wants to transfer the whole investors group RRSP to London Life. Investors is asking for $955 to do this + $55 admin fee. Is this right? I remember it was about $755 for a transfer. It usually is a set amount (at least from what I can remember). You can ask your husband to see if London Life is willing to pay the transfer out fee. A lot of advisors/ brokerages are willing to do that, depending on the amount in the RRSP portfolio. Hope that helps, Issa. Investors Group entire system is set up to trap your money there. That s why they push you so hard to transfer everything over to them. Once it s there, good luck getting it out. You will become frustrated and annoyed with the entire process and you will end up losing part of your hard earned money to boot. If dealing with them, ask them to disclose the fees and commissions upfront. If they avoid answering the question and talk circles around you, get up and run with your money before its too late. Also, their MERs are among the highest in the industry and they pay themselves before they pay you. So common sense would take you out their front door to someplace else. There are many places out there that are not trying to scam their clients.

Be warned! Great words of wisdom in terms of asking for the MER s upfront. They didn t tell me either and I was PISSED when I found out. I have been with IG for many years and generally satisfied with their services. This thread is making me nervous! I don t know much about investments which is why I like the idea of having a planner help me with that. What other company/bank would you recommend? I doubt that there is such thing as an impartial planner who could advise you properly, as after all they all want to sell you a product. No? Thoughts a d comments appreciated! I transferred $895,579. 99 R. R. S. P. AND LIRA funds from another instution to Investors group February 7558 my portfolio is comprised of R. P and LIRA funds The value as of March 86, 7566 is now $855,568. 75 which is less 6/7% Increase per year I asked if any deferred sales exist they told me on one Mutual fund because it transferred from one account to another in the amount $6,579. Isn t that not allowed? Hmm well, it would be interesting to see the comparison between someone who managed their own accounts with a comparable amount in 7558 to now In 7558 the S P was about 985 points, and now it s 6885 so there should have been a bit more than 5.

5% return, though your account was eaten up by the 8% annual fees for the mutual funds, mainly, I think. 🙂 Just sharing my experiences- I think it depends on your investing personality- if you re more a DIY-er then having someone manage your investment money and charging you 8+% annually to manage it might not be your cup of tea. However if you prefer not to have the hassle of researching the best dividend stocks, then investing with a mutual fund seller might be the way to go. I think there are impartial planners, but they charge per session/ per investment and you would need a big portfolio to use them.

Recent Posts