This is why I still love helping Canadian investors.

For over five years I was an Investment Funds Advisor and trainer at Tangerine Investments. It was my dream job. For decades I had suggested that if I could ever find someone to pay me to talk about sensible low fee investing, well I’d jump at that chance. After all, in my advertising career I was talking investments (all day), but no one was listening. So I jumped at a wonderful opportunity and started a new career at age 50 in 2013.

It was not work. I was able to move to a ‘job’ where at the end of the day (and all through the day) there was a very useful mission and purpose. I was helping my fellow Canadians. I would often suggest to coworkers and clients …

Canadians pay the highest mutual fund fees in the world, we offer one of the most simple and lower fee options available in Canada. It’s not hard to get up and go to work in the morning.

Larry Bates, the author of Beat The Bank will explain why and how Canadians are caught in that high fee trap. Those high fees are wealth destroyers. I’d suggest you click on that link and head to Larry’s site and discover your T-REX score. That will detail how your fees are eating into your long-term wealth. The difference between high fees and low fees is life changing. We’re talking about potentially retiring with hundreds of thousands of dollars more; we’re talking retiring many years earlier. You might end up with tens of thousands of dollars (more) to spend each year in retirement.

Life Changing. 

As you can imagine it’s incredible to have a job that allows you to change lives. And while that may sound like a corporate cliché, it’s not. At Tangerine the rush of the positive feedback and evidence of helping folks live a Better Financial Life was immediate; and the positive karma and accolades came often from clients and department leaders.

I left Tangerine in June of 2018 to start my new venture at Cut The Crap Investing. I’m still on the same mission, I’m still on the same team that includes Tangerine, but my team is now a lot Bigger. In fact it’s massive. The team that helps Canadians get their financial house in order includes the many financial writers and bloggers who connect directly and indirectly with so many Canadians. The Team includes the many lower-fee investment firms including the Canadian Robo Advisors. There are the many fee-for-service advisors who do the right thing.

But with my new venture, writing for Cut The Crap Investing, that positive feedback does not come often. But when it does, oh it still feels good. I love that karma and the feel-good real life stories of Canadians who said goodbye to their high fees and poor ‘advice’. When I help a Canadian (in any way, even if it’s a smaller contribution) break free from the high fees and to see them move to the path of financial freedom – well I remember why I do what I do.

All in all I am very happy with Questrade and even happier to be done with advisor fees and GST which in my case was close to 9 grand per year.

That was an email message from a reader who contacted me soon after I had launched my new site. I remember chatting with this investor while I was set up in that home office beach cottage in PEI. Yes have laptop will travel. We’ll call this investor ‘Francoise”.

Francoise was paying fees for no good reason. Francoise was not really getting any useful advice. Like most Canadians Francoise was putting thousands of dollars into the wrong pockets ever year. Over a lifetime, of course, it will amount to hundreds of thousands of dollars going into the wrong pockets. The good news email continued.

I must say that Questrade was fantastic from the beginning, my first inquiry was very positive, the gentleman I spoke with “Jay” gave me his direct email – which I used on several occasions. The paper work is all on-line except for the beneficiary form that had to be mailed in.

I was so happy to read (but not surprised) that Questrade made it so easy and so enjoyable to save thousands of dollars. They even picked up the transfer fees of course. I’ve suggested Questrade to a few readers. The reports from readers are all positive. Of course investors could use Questrade to self direct their own ETF Portfolio, they may hold individual stocks as well, as does Francoise. The self-directed investor would use the discount brokerage offering.

Investors may decide to move to Questrade’s managed portfolio offerings by way of Questwealth. With Questwealth clients have access to advisors and complete managed portfolios with fees that begin at .25% and move to just .20% for portfolios above $100,000. Compare that to average mutual fund fees at 2.2% or more. No contest.

As you may remember Questwealth is formerly PortfolioIQ, and they recently re-branded and slashed their fees to become the lowest fee provider in Canada for portfolios that are below the $250,000 range (or so). When they cut their fees I excitedly responded with Who is now the most cost-effective robo advisor in Canada?

That article compared Questwealth to Nest Wealth. Nest Wealth is the most cost-effective provider for those with portfolios above that $250,000 range. Here’s my review Nest Wealth shows you how those low fees can be life changing. Yup, there’s that life changing magic phrase once again.

Nest Wealth Calculator

I recently heard from a reader who had a more complicated tax situation. I had suggested a few names including a fee-for-service advisor and a couple of the “Robo Advisors”. Given that he had more considerable assets and monies in taxable accounts he went the route of Justwealth the Canadian Robo Advisor that knows when to get personal. He will get low fees, a very tax efficient investment plan, and has also received a more complete and holistic personal financial plan. Once again, the “Robo’s” are all quite human – and all very nice. They get to ‘do good work for a living’.

Another success story. The reader who moved to Justwealth could not get an answer on the fees that he was paying his previous ‘advisor’. Sometimes they just lie to you, or they spin you in circles. The high fee folks are nervous and scared and desperate as there are now so many much better lower fee options available. Canadians are starting to wake up to the unfortunate realities of high fees and the poor advice that often comes attached to investment products.

I’m happy to work with Leave-Behind-The-Poor-Investments Team Canada.

This week I penned on my first six months of the Cut The Crap Investing experience in this LinkedIn article. 

I thanked some of my new teammates for their advice and support and for what they’ve been doing for many years – helping Canadians live better financial lives.

As always, help yourself out – bookmark and read …

Jonathan Chevreau’s Findependencehub. 

Robb Engen’s Boomer and Echo

There’s also,,, and so many more.

Dividend lovers might hit up …

The Dividend Guy

And the always entertaining Financial Uproar

Thanks for reading, please send your good news feel good financial freedom stories to Dale @

While I do not accept monies for feature blogs please click here for more about Dale and ‘how I might get paid’ disclosures.

Kindly hit those share buttons for Twitter, Facebook and Linkedin at the bottom on this article. You can Follow Cut The Crap Investing at the very bottom of this page.

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