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That chat with a Wealthsimple rep made me ditch my DIY investing
I was fully on the Wealthsimple Trade bandwagon, buying up VEQT and random stocks myself thinking I was saving on fees. But I had a call with their advisor team last week about their managed robo service. They broke down how my frequent small trades were eating 0.5% in spreads and tax drag I never noticed. They showed me a projection where the 0.4% management fee actually came out ahead after 3 years of my messy buying habits. Now I'm moving half my TFSA into their managed portfolio for a trial run. Has anyone else switched from self directed to robo and actually saw better returns?
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val_williams19d ago
Did the advisor show you the actual numbers behind that tax drag or just tell you it existed? Because I feel like a lot of people never see those hidden costs laid out that clearly. Would love to know how they calculated that 0.5% spread on your small trades.
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martinez.kim19d ago
Oh man, that reminds me of when I signed up for one of those fancy budgeting apps and it showed me how much I was spending on takeout coffee. I felt so called out.
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