Q – I have been using financial advisors for years but would now prefer to manage my own funds. Many years ago, I managed my own portfolio with TD Waterhouse but now am wondering if there are similar companies that I might research. I have quite a substantial amount to invest therefore would like a reliable company. As well, I’m not sure if I have to liquefy all my assets or would be able to transfer portfolio in kind to my choice of company. – Barb E.
A – You’re obviously looking for a discount broker and there are many from which to choose. I suggest you look for a company that offers the lowest rates and a quality reporting system. A recent survey by MoneySense chose Questrade as their top on-line broker in 2019 (https://www.moneysense.ca/save/investing/best-online-brokers-in-canada/). Questrade was also selected by StockBrokers.com (https://www.stockbrokers.com/guides/best-brokers-canada).
You do not have to sell your current assets; the portfolio can be transferred in its current form. There will probably be a transfer fee involved, however. – G.P.