Wealthsimple cracks $4 Billion. Mutual funds no match for ETFs. Weekend Reads.

It was an odd week in some ways. Suze Orman, the famous (and fabulously rich) personal finance television personality will kick things off. As you may know Ms. Orman was the host of The Suze Orman Show and for many years it was the most-watched show on CNBC.

On Twitter, our friend Ellen Roseman of the Toronto Star shared this post from A Wealth of Common Sense. It was not the most flattering article and for that Ellen was blocked by Suze Orman. Or most likely she was blocked by Suze Orman Media. Ms. Orman is retired at her island in the Bahamas and is likely too busy to block folks on Twitter. But whoever did the Twitter block also stated the post was the worst comment ever.

Suze Orman worst comment ever

According to this article, Suze has gone fishing and spends several hours a day reeling in, uh bigger fish. And certainly Ms. Orman has helped many with her sensible personal finance advice and inspiration. She does offer an inspiring rags to riches story, and hey, it’s not her fault that she became rich and famous. It was all good fun, and no one got hurt in the Twitter spat. It was a legal block to use some football terminology.

And while Ms. Orman may have exaggerated the financial effect or harm of buying a latte every day I agree on the general premise of how saving a few bucks here and there can add up to significant amounts over time if you invest those savings. Here’s Hey, I just found $888,0000 in your coffee. Ms. Orman found $1,000,000 and that was American dollar$.

At the very least it allowed a more than interesting headline For Boomer and Echo’s weekend post.

Blocked Boomer and Echo

Wealthsimple breaks the $4 Billion mark

I received an email from Wealthsimple that they now have over $4 billion in assets under management (AUM) and over 150,000 clients. That’s great news. Wealthsimple has been a wonderful champion of investing in lower fee ETF portfolios. They have spent a lot of money spreading the good word, and we can see that they are being heard.

Please have a read of Canada’s Most Famous Robo Advisor – Wealthsimple.


And certainly the entire industry benefits from marketing efforts of Wealthsimple.

Recent figures showed that in March ETF sales matched mutual fund sales. Once again, we may get that tipping point (sensible low fee investing vs destructive high fee mutual fund investing) sooner rather than later.

Rob Carrick ETF Flows

And for the Globe and Mail Rob Carrick suggested that the whole country would benefit if we raise the age to 67 for taking CPP and OAS. 

You can have some fun and perhaps even with a few bucks with Horizons Biggest Winner ETF competition. It’s fantasy pool, but with real prizes, of course.

Biggest Winner Horizons

Keep in mind this is a short term event so it’s a trading competition, this is not investing. That said, if you sign up you’ll likely want to choose assets that carry more risk, but offer the potential of greater short term gains. It’s a good thing it’s played with play money. On risk and return you might turn to my post on the incredible growth potential of the Cannabis sector. Good luck, I’ll see you on the Leader Board.

This competition might be a good opportunity for investors to learn how to buy and sell ETFs. It may be part of the learning process toward self-directing your own ETF Portfolio.

This post is from 2015 but I really like this example of bucketing for retirement funding. From Dan Bortolotti on MoneySense please have a read of A Better Way To Generate Retirement Income. While many of us will be tempted to cover our retirement needs with portfolio income, Dan demonstrates how a nice mix of simple core market ETFs and GICs can do the trick in a lower risk manner.

Jason Heath offers estate planning pitfalls for common-law couples on the Financial Post.

And here’s a very interesting article and strategy from Erica Alini of Global News, When Cashing Out Your RRSP at 65 Makes Perfect Sense. The suggestion is that lower income seniors are best served to raid that RRSP early, pay the taxes, and move the monies to a TFSA using any available space. They would then not be in the position where the RRSP or RIFF withdrawals would claw back their GIS payments. The GIS is the Guaranteed Income Supplement for lower income seniors.

From the Financial Post, a wonderful and inspiring story of a couple that emigrated to Canada in 1990 and did everything right. It demonstrates what makes Canada great, and how our immigrants add to the economy and fabric of our diverse nation.

Couple came to Canada

And as always check out FindependenceHub.

This week I offered Clear disclosure cleans up water heater rental scams. Why can’t the mutual fund industry do the same?

And Ever wonder who makes your ETFs and how they stay on track?

And for Seeking Alpha Will Steve Eisman’s Big Short of the Canadian Banks Become The Big Hurt?

Thanks for reading. Kindly hit those share buttons for Twitter, Facebook and LinkedIn. You can Follow Cut The Crap Investing at the very bottom of this page. To join in on the fun on Twitter I’m at 67_Dodge 🙂

Contact me, Dale @ cutthecrapinvesting@gmail.com or better yet, leave a message.

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