Question about fees
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Thread: Question about fees

  1. #1
    Junior Member
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    Question Question about fees

    Hello,

    I'm a new forum member although I've been reading this forum on and off for about a year now and trying to learn from it. I'm a definite newbie when it comes to investing and I just recently opened an investorline account. I've read up on MERs, management fees, TER, and loads (no, front, or back) on mutual funds and I think I have a basic grasp of what each is. I know I have to pay a flat fee for each trade (9.95 or 29 depending on your account). What I don't know is which of the above (other than the trading fee) do I still need to pay as a direct investor (instead of buying funds through the banks)? I have not been able to find a clear answer to this.

    Thanks in advance for your help.


  2. #2
    Senior Member Beaver101's Avatar
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    Quote Originally Posted by basiktyler View Post
    Hello,

    I'm a new forum member although I've been reading this forum on and off for about a year now and trying to learn from it. I'm a definite newbie when it comes to investing and I just recently opened an investorline account. I've read up on MERs, management fees, TER, and loads (no, front, or back) on mutual funds and I think I have a basic grasp of what each is. I know I have to pay a flat fee for each trade (9.95 or 29 depending on your account). What I don't know is which of the above (other than the trading fee) do I still need to pay as a direct investor (instead of buying funds through the banks)? I have not been able to find a clear answer to this.

    Thanks in advance for your help.
    ... assuming you're asking about investment fees, I think you have the answer(s) within your post. As a BMO Investorline "DIY" client, you just pay $9.95 per trade to buy/sell stocks and ETFs (the basics). (The $29 fee is when you utilize a broker to do the trade for you.) Buying and selling "inhouse" or no loads mutual funds are fee-free or trading fee-free (not really in actuality - the fees are built in the MER, TERs, etc. that the fund managers charges to all unitholders). Hope this answers your general question.
    Everyone should be respected as an individual, but no one idolized.-A. Einstein

  3. #3
    Senior Member
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    Would really help if you indicated which particular products you are buying and from which brokerage.

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  5. #4
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    Quote Originally Posted by basiktyler View Post
    Hello,

    I'm a new forum member although I've been reading this forum on and off for about a year now and trying to learn from it. I'm a definite newbie when it comes to investing and I just recently opened an investorline account. I've read up on MERs, management fees, TER, and loads (no, front, or back) on mutual funds and I think I have a basic grasp of what each is. I know I have to pay a flat fee for each trade (9.95 or 29 depending on your account). What I don't know is which of the above (other than the trading fee) do I still need to pay as a direct investor (instead of buying funds through the banks)? I have not been able to find a clear answer to this.

    Thanks in advance for your help.
    Except for the commsions, e.g. $9.95, that you would pay BMO IL for stock/ETF trades, the rest of the fees, e.g. MER, TER and Loads are buried within the mutual fund/ETF products themselves and thus no difference between buying funds through banks or brokerages. Just remember that at banks, you can only buy "their" funds and no one else, e.g. BMO mutual funds only at BMO, nor can you buy stocks/ETFs (or anything on the stock market) at banks.

    As far as front load, back end load, low load, and no load funds.... never buy anything other than 'no load' funds if you are buying mutual funds.

    Added: BMO Investorline is a good discount brokerage, especially for newbies.


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