hi all,
i've been reading a lot about the whole index funds vs. etf debate, strategies when starting off small, etc. but i'm still confused about what's possible in terms of the pure logistics of investing
i've read that with small regular contribution to my rrsp, i ought to go with something like the td eseries index funds, then when i've accumulated enough, perhaps switch over to questrade and buy etfs because the fees/mer considerations end up favouring etfs when my trades significantly outweigh the fees and i can benefit from the low mer with etfs.
anyway, much as i'd like to set it and forget it, i'd like to have some control over what i buy. but are index funds organized specifically by the brokerage themselves?
that is, TD offers 5 index funds for the eseries investments. so does that mean if i open an eseries account, i can invest in these 5 index funds however i want, but that's all i can do...this is the limit of the selection? i couldn't buy any other index funds? and if so, if i really want more control, i'd need to open up a tdwaterhouse account and start buying mutual funds/stocks, etc, if i really want more selection?
in contrast, if i want to buy etfs, since they're basically traded like stocks, i could sign up with any brokerage and buy and etfs in any available markets? i.e. if i had an account with questrade, i wouldn't be bound by whatever questrade offers, i could by any etf in any market, all i need is the ticker symbol and i can purchase?
i'm trying to figure out which one to go with. maybe since my contribution right now is pretty small (<10K) it wouldn't really make sense to buy etf cause the fees would eat away at any mer advantage?
thanks
i've been reading a lot about the whole index funds vs. etf debate, strategies when starting off small, etc. but i'm still confused about what's possible in terms of the pure logistics of investing
i've read that with small regular contribution to my rrsp, i ought to go with something like the td eseries index funds, then when i've accumulated enough, perhaps switch over to questrade and buy etfs because the fees/mer considerations end up favouring etfs when my trades significantly outweigh the fees and i can benefit from the low mer with etfs.
anyway, much as i'd like to set it and forget it, i'd like to have some control over what i buy. but are index funds organized specifically by the brokerage themselves?
that is, TD offers 5 index funds for the eseries investments. so does that mean if i open an eseries account, i can invest in these 5 index funds however i want, but that's all i can do...this is the limit of the selection? i couldn't buy any other index funds? and if so, if i really want more control, i'd need to open up a tdwaterhouse account and start buying mutual funds/stocks, etc, if i really want more selection?
in contrast, if i want to buy etfs, since they're basically traded like stocks, i could sign up with any brokerage and buy and etfs in any available markets? i.e. if i had an account with questrade, i wouldn't be bound by whatever questrade offers, i could by any etf in any market, all i need is the ticker symbol and i can purchase?
i'm trying to figure out which one to go with. maybe since my contribution right now is pretty small (<10K) it wouldn't really make sense to buy etf cause the fees would eat away at any mer advantage?
thanks