How banks make money on your lack of investing knowledge: Mutual Fund Alternatives

If you were smart enough to avoid a bank branch when getting your mortgage, are you going to consider more alternatives when it comes to investing? In this interview Victoria financial advisor, Bobby Vu, breaks down the math of how many banks are charging triple the fees for investing money into the same thing a robo advisor may recommend. Timestamp: 5:35 What do bank branches charge as their “MER” for mutual funds? 6:42 Robo advisors and how small they are compared to the mutual funds industry 9:30 Robo advisor ETF’s at banks?! 11:00 How passive investing can beat active investing 66% of the time 12:30 Asset Allocation Funds at Banks are cheaper than Robo Advisors (.25% vs .75%) 13:30 Pay a financial advisor upfront vs. from your future earnings 17:18 How to best save for retirement: Diversification 20:00 RRSP vs TFSA 22:40 Refinancing and Opportunity Cost Resources Mentioned: Wealth Simple: https://www.wealthsimple.com/en-ca SPIVA: https://www.spglobal.com/spdji/en/research-insights/spiva/ Mutual Fund Video: https://www.youtube.com/watch?v=Bxl15EFocVg Get in touch anytime if you want to level up your living: Bobby Vu (www.vufinancial.com) Bobby Vu Financial Solutions 778-265-2622 bvu@vufinancial.com Paul Davidescu (www.levelupmortgages.com) Level Up Mortgages 604-809-3188 paul@levelupmortgages.com See Our Google Reviews in BC & Ontario: https://bit.ly/ViewLUMReviews ⭐️⭐️⭐️⭐️⭐️ Talk to us or if you want some quick replies, connect with our Facebook Messenger Bot: http://bit.ly/MyMortgageBot Got Mortgage Questions? Trying not to freak out about something that’s stressing you out? We got you 🙋🏽‍♂️🙋‍♀️ + Get immediate answers on your mortgage questions with our FAQ Page 👉https://bit.ly/mortgagefaq + Email me and check out our website: paul(at)levelupmortgages.com | www.levelupmortgages.com 👨🏽‍💻 + DM me on Instagram if you want to get more personal 📱 https://www.instagram.com/levelupyourmortgages/ + Get LinkedIn if you want to check our credentials 😎 https://www.linkedin.com/in/pauldavidescu/ + Tweet at me if you hang out there 🐦 https://twitter.com/levelupmortgage + Check updates on our blog to do a deep dive 🔎https://www.levelupmortgages.com/blog + Subscribe to Level Up Mortgages YouTube Account: http://bit.ly/LevelUpYouTubeSubscribe