You own lots of mutual funds in your retirement portfolio. Every time you go to the bank, your financial advisor shows you charts and graphs of how well they’re doing. And yet when you look at your account, your personal growth seem stagnant, consumed by fees and commissions.
As a senior wealth advisor with Scotia Wealth Management, Dan Keil has an alternative.
“Exchange traded funds are one of the fastest growing investment tools available to consumers because of the many features that give them advantages over other means of investing,” he says. “They are cousins to the modern mutual fund in the sense they are diversified investments, with many different stocks and bonds inside of them.
“Unlike mutual funds, they generally carry significantly lower costs and can be a big advantage for investors.”
On Oct. 10, Dan is hosting a free seminar called Exchange Traded Funds Explained at Beach Grove Golf Club in Delta.
Asked why advisors often don’t tell their clients about ETFs, Dan says that, unlike him, many advisors aren’t specialists.
“Mutual funds can be easier for most advisors because they’re a one-stop solution to solve all problems, even if they’re not the most effective,” he says. “ETFs can be more work for the advisor to find the right ones. They do not pay advisors up-front commissions and require special licensing. Mutual funds require a lower level of licensing.
“While there are many high-quality mutual funds in existence, in my opinion they are few and far between.”
Think of it this way: “A mutual fund is like a hammer. It’s very effective in limited circumstances. The ETF is like a multi-faceted screwdriver. It is a highly useful addition to the toolbox. They are ideally suited for people who want to generate monthly income, reduce risk, reduce management fees and optimize taxation.”
Want to learn more? “The best way to find out if they’re right for you is to meet with an advisor who specializes in low-cost ETFs, such as myself, or come to my workshop on Oct. 10,” Dan says.
The seminar is free, but people are required to pre-register here. Attendees have the choice of 2 to 3 p.m. or 5:30 to 6:30 p.m. Dan Keil is also hosting an upcoming seminar on 7 Key Steps to Ensure You Don’t Outlive Your Money (Oct. 22). For more information, you can also contact Nandita Puri, senior associate, at firstname.lastname@example.org or call (604) 601 1572.
Dan Keil, CIM, is a Senior Wealth Advisor with Scotia Wealth Management® ®Registered trademark of The Bank of Nova Scotia, used under licence. Scotia Wealth Management® consists of a range of financial services provided by The Bank of Nova Scotia (Scotiabank®); The Bank of Nova Scotia Trust Company (Scotiatrust®); Private Investment Counsel, a service of 1832 Asset Management L.P.; 1832 Asset Management U.S. Inc.; Scotia Wealth Insurance Services Inc.; and ScotiaMcLeod®, a division of Scotia Capital Inc. Wealth advisory and brokerage services are provided by ScotiaMcLeod, a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.