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I'm doing a brokerage review of CIBC IE, and I was hoping to get some quotes or opinions from some current or former (not too former) customers.

You can comment on whatever you want, but I'm looking for:

1) Trading platform/interface - are these ok/good/bad?
2) Customer service - any impressions you might have.
3) Research reports and tools. Do you use these and are they any good?

You can comment here or PM me or email at mike AT moneysmartsblog DOT com

thx, Mike
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I am an Investor's Edge client.

No problems but I don't trade much or ask much of them. I just invest for the long run mainly in broad-based ETF's and trade periodically for rebalancing purposes.

In any surveys that I have come across, they are not among the most highly rated--in fact, they are near the bottom.
 

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I'm doing a brokerage review of CIBC IE, and I was hoping to get some quotes or opinions from some current or former (not too former) customers.

You can comment on whatever you want, but I'm looking for:

1) Trading platform/interface - are these ok/good/bad?
2) Customer service - any impressions you might have.
3) Research reports and tools. Do you use these and are they any good?
I've been a CIBCIE client for many years, in fact we do all of our banking with CIBC. This has a lot to do with the strength of relationships we have with the individuals at the local level. That said, I don't feel as though we are missing out on anything.

I will preface my remarks by stating that I am typically a buy and hold type of investor. Our investments consist of common and preferred shares, a few trusts/REITs, investment grade bond ladders and a high interest savings account. My taxable investment account is marginable.

1) The trading platform is fine for my needs. Execution is quick and I'm not getting whip sawed on the spread. The interface between the web broker and on-line banking is seamless which really simplifies moving moneys around. Margin interest rates are pretty typical at prime +2.5-3. The only weak spot from my perspective is with the bond desk. The inventory isn't as broad as some of their competitors and spreads can be plenty wide at times. Never-the-less, with patience, I've always managed to find something that would work for our bond ladders. If I was predominantly invested in fixed income securities, then I might be more likely to switch to a provider with a broader inventory such as BMOIL.

2) My experience with customer service has been generally excellent. Sometimes, you may not get the most knowledgeable individual on the other end, but all issues have been solved readily. No problems executing Norbert's Gambit on several occasions or connecting with a knowledgeable bond trade to source corporate strip bonds.

3) I do most of my own research, so I don't rely on the brokerage's research reports. That said, I have full access to CIBC World Markets, Reuters and S&P research. The equity research from CIBCWM is pretty typical of sell-side analysts. I find the economic reports more useful. For US stocks, the S&P reports are particularly well done and provide a very good overview without a lot of bias. For those who like to read, there is a lot of choice.

In terms of tools, I'm not really keen on the functionality of their proprietary stock selector tool. They have a few pre-set screens that may offer something to others. The universe of stocks I follow is generally fairly small, so these features don't have a lot of value to me.
 

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In a nutshell.
Great pricing , if you're a trader.
Terrible platform/interface.
Decent customer service and research tools.
 

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Resurrecting an old thread about CIBC Investor's Edge.

I am considering having a TFSA opened to shelter an inheritance (for the $63k that will be available Jan 2019) for someone who will otherwise piss it away. Hoping I can convince them to allow me PofA for the account, invest in something like a single asset allocation solution such as MAW104 or VBAL, and then set up a VPW so they are paid monthly, initially planned to age 90. I'm not too worried about a monthly sell commission if necessary.

I'm somewhat familiar with CIBC Imperial Investor Services accounts where everything passed through an 'advisor'. I don't want that. I'm not a user of CIBC, but for reasons of a couple of existing beneficiary chequing accounts there, it at least makes sense to consider them.

Is anyone here a CIBC Investors Edge user? Am I correct in understanding that a CIBC-IE TFSA would be a 'self-directed' account in which we could hold any MF, etf, equity, etc. and could monitor on-line.

Thanks for any comments.

https://www.investorsedge.cibc.com/en/accounts-and-investments.html
https://www.investorsedge.cibc.com/en/pricing.html
 

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Yes a CIBC-IE TFSA would be a 'self-directed' account ... though I haven't checked whether MAW104 is available (previous comments indicate not all offer it).

There are differences from other brokers (likely not an issue for you) but yes, you can buy/sell/monitor online.


Cheers
 

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Thanks Eclectic. I'll check further into this then. It seems the way to go in this case.
Someone here with a CIBC-IE account should be able to ask by Secure Message whether they sell MAW104.... or just phone them. I know RBC-DI does not (likely due to competition against their PH&N) but Scotia iTrade does (I own it in my TFSA).
 

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I have investor edge and use it just for trading and don't do any research or anything like that on it. I find if I try to do any research or whatever it is almost always screwed up and never works.
 

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I have investor edge and use it just for trading and don't do any research or anything like that on it. I find if I try to do any research or whatever it is almost always screwed up and never works.
Sure, but to help OMO out, just use their Secure Message option and ask them if they sell MAW104. Doesn't mean you are buying it.
 

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I was actually commenting to the title of the thread in general and would probably never use the Secure Message option because of the uselessness of the site. However you never know down the road where this option might be important to me for some reason.
 

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CIBC IE does trade MAW104 - here's a short copy and paste (sorry don't know how to do snapshot and paste on CMF at the moment). I tried to "buy" the fund and it even identified the benefits of the "D" series in addition to this A series.

Global Neutral Balanced
Mawer Balanced Series A (MAW104)
$28.6971 CAD
Last trade as of previous close 4PM EST May 31, 2018
Snapshot
Charts
Performance
Portfolio
Lipper Leaders
10dy3mo1yr3yr5yr
Current stock quote for Mawer Balanced Series A MAW104
Investment typeMIXEDMULTI Total Net Assets2.6K
ManagerGreg Peterson Tenure2/12/88
Net Asset Value28.70 MER0.92
Redemption charge--
* Not applicable to all Load Types
Fund codeMAW104
Inception Date3/31/88 Price at launch10.01
Current fund currency CAD
Domicile Canada
Legal structure CATRUST
Initial charge --
Income handling Paid
Distributions Per Year 1
Manager's Declared
Yield & Date None declared
 

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Just to confirm, I had sent an email off to CIBC-IE as well regarding mutual funds that do not pay trailer fees, e.g. Mawer, Beutal Goodman, etc. Here was their email response:
Thank you for contacting CIBC Investor’s Edge.

The Mawer Balanced Fund (MAW104) is available at Investor’s Edge, as are a number of other Mawer funds. We also do offer Beutel Goodman funds.

As not all mutual funds are available for trading online, clients can call our Contact Centre to make a purchase with one of our traders if a particular fund cannot be purchased online. There is no commission for any mutual fund buys or sells, either online or by phone. Traders are available at 1-800-567-3343 (Monday to Friday, 8 am to 6 pm ET).

Best regards,
 

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Thanks for the legwork Beaver and AltaRed. Glad to know this acc will work.
Now the challenge of establishing a PofA for their own good. I managed to convince them to take a small pension rather than a lump sum a few years ago, and we did sit down with someone at the bank last year to set up a 'locked-in' jt chq account from which rent is PAD'd.
Challenges I don't relish spending my time at during my so-called retirement.
 
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