I worked for TD for 20 years so keep that in mind. all the major banks offer account options that can meet the needs of self serve or advisor based accounts. You’ll find Forums such as those are heavily opinionated towards self-serve investing. keep in mind, most here are very experienced investors. While it’s an option for you, I would suggest that you start with a retail based mf account. This will give you a taste and a little education about risk tolerance, time horizons and investment goals. You can simply request that you want a low fee (index fund solution) and they will recommend an appropriate solution.
you can go a bit further On the self-serve continuum by opening an e-series account with td.
the management fees on e-series funds may be slightly lower than the branch based index funds, but I don’t recall exactly. I would suggest that be your first bit of research. If you’re not up to that level of research....then in my mind, you are best suited to remain within a brand based account.....for now.
in my opinion, your comment about not wanting an advisor is incorrect. It’s my belief that all novice investors should seek the advice of an advisor in the early stages....doesn’t mean you need to commit to them.....but they are the “professionals” and despite what others may say, have more education, experience and exposure than you do.....at this particular time in your investing journey.
one of the biggest mistakes novice investors make, is asking about what others are doing And blindly following their actions. Do a little research, read some forums, talks to some bank advisors (only suggesting that at this point given the investment size and knowledge). You should quickly come to realize that investment A or product B (while an appropriate solution for one person) does not meet everyone’s needs. Everyone’s needs are different and can be met by most banks/investment firms. The differences in my opinion are not that different...other than familiarity.
I would not recommend a novice investor with less than 5 years of investing experince, even consider borrowing.
finally.....you’ll see what follows is a wide degree of opinions......take them all in....enjoy it....investing should be fun, education and fruitful!
you can go a bit further On the self-serve continuum by opening an e-series account with td.
the management fees on e-series funds may be slightly lower than the branch based index funds, but I don’t recall exactly. I would suggest that be your first bit of research. If you’re not up to that level of research....then in my mind, you are best suited to remain within a brand based account.....for now.
in my opinion, your comment about not wanting an advisor is incorrect. It’s my belief that all novice investors should seek the advice of an advisor in the early stages....doesn’t mean you need to commit to them.....but they are the “professionals” and despite what others may say, have more education, experience and exposure than you do.....at this particular time in your investing journey.
one of the biggest mistakes novice investors make, is asking about what others are doing And blindly following their actions. Do a little research, read some forums, talks to some bank advisors (only suggesting that at this point given the investment size and knowledge). You should quickly come to realize that investment A or product B (while an appropriate solution for one person) does not meet everyone’s needs. Everyone’s needs are different and can be met by most banks/investment firms. The differences in my opinion are not that different...other than familiarity.
I would not recommend a novice investor with less than 5 years of investing experince, even consider borrowing.
finally.....you’ll see what follows is a wide degree of opinions......take them all in....enjoy it....investing should be fun, education and fruitful!
