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Discover the costs of your mutual funds

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Discover the costs of your mutual funds

(NC) Investors across Canada now have new information about the fees they pay for their investments. This transparency is great news because it allows us to better understand the value and cost of our investments.

We all expect the goods and services we buy to come with a cost, and mutual funds are no exception. When you buy a mutual fund, you receive services from your dealer (the company where your advisor is registered) and from the fund. Often, you can choose to pay your dealer and manager separately, or combine the costs into one payment.

Most Canadians pay for the manager's and dealer's services as part of the overall fees for buying and holding their mutual funds. Some dealer firms also offer clients the option to pay them directly. This approach, which is more common in other countries like the United States, can result in higher overall costs, especially for smaller accounts. Ask your advisor which method will give you the best value.

Whatever payment method you choose, there are several services you'll receive for the fee you pay your dealer. They include buying and selling units of a fund, keeping and delivering detailed records about your account, and reviewing your financial needs on a regular basis.

As you move through life, your needs for specific types of financial advice will change. Make a point of talking to your advisor regularly and asking about additional services that might benefit you.

For more information, visit IFIC.CA > Investors

www.newscanada.com

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