QuestWealth: For those of you truly do not want to learn how to invest or manage your money
For a limited time offer until March 30th, Questrade is running a promo:
I am a HUGE fan of DIY investing, meaning you buy and trade ETFs and stocks on your own without a portfolio manager….. but if you aren’t that person, and you’d rather just throw money at it but not necessarily to a manager who will take a bigger fee, try QuestWealth for low-cost money management.
I have been with Questrade for over 10 years now and am pleased with their service.
They will charge you the following, versus what a portfolio manager might take (typically 0.7% – 2%)
The types of portfolios they have are:
Great for high-risk investors
When you’re looking to maximize growth, the Aggressive Growth portfolio can be right. This portfolio invests in 100% equity. While it will fluctuate with the market, it typically offers the highest potential returns. The MER of this portfolio ranges from 0.15% to 0.23%.
Great for medium to high-risk investors
For better than average asset growth, the Growth Portfolio can be right. It invests in approximately 80% equity and 20% fixed income. It typically has less risk than the Aggressive Portfolio. The MER of this portfolio ranges from 0.14% to 0.22%.
Great for medium-risk investors
For growth with a moderate level of risk, the Balanced Portfolio may be right. It invests in 60% equity and 40% fixed income. It has the steady cash flow much like the Income Portfolio mixed with the potential gains of the Growth Portfolio. The MER of this portfolio ranges from 0.13% to 0.20%.
Great for medium to low-risk investors
For a steady stream of income, the Income Portfolio may be right. It invests in 60% in fixed income and 40% in equity. It typically offers more consistent returns than the Balanced Portfolio. The MER of this portfolio ranges from 0.12% to 0.17%.
Great for low-risk investors
For preserving capital, the Conservative Income Portfolio can be right. It invests in 80% fixed income and 20% in equity. It’s our most stable portfolio. The MER of this portfolio ranges from 0.11% to 0.14%.
That’s about it.
Sign up, pick one, deposit a lot of money regularly and be done with it.
💥They are cheaper than WealthSimple💥!!!
At 0.25%, they soundly beat out even WealthSimple (the current “low-cost” robo-advisor brokerage) that charges 0.50% or double for balances under $99K.
For anything above $100K, Questrade charges 0.20% and WealthSimple charges double or 0.40%.
I’d go with QuestWealth in a heartbeat if I wanted to get investing quickly and not bother with picking ETFs, trading them, etc – they’ll do that all for you based on the portfolio you picked.
They will even pay your fees to transfer your account from another to QuestWealth
They reimbursed me $100 the first time I moved all of my money over from TD Bank.