Well, its that time of the year again. Wondered if your investment did well compared to the market. Wonder if your with the right Investment manager, Wonder if your investment manager is any good, etc.
I am at the across roads too. I have had a CFP for the past 10 years. For the most part my RRSP has been growing steadly and is 100% Mutual Funds. I have 1-2 company stocks as well. This is where the problems begin.
I have read many articles throughout the years and most all have stated that Mutual Funds are not the way to go and Index Funds are cheaper (Management Fees and Trailers) My CFP, of course, is in defense of MF. Diversified, Deferred cost and if you buy monthly, you have the advantage of dollar cost averaging.
I was introduced to a Discretionary Portfolio Manager. He hates MF and upholds that they are a bad investment. His invests his clients into 15 -20 stocks, which could include bonds. But primarily stocks. This portolio is his picks and he holds the discretion to trade in and out to "protect" his clients. He claims that good discretion managers out perform the Best MF managers. However, isn't what a discretionary Manager, selecting a stock and bond and creating a portfolio, the same as what MF managers do? If so, what is the difference then?
I am likely 15 years from retirement( or needing the money) any advice on the vechicles of investment within a RRSP?