Even if you’re the most cost-conscious DIY investor, there are fees to pay when investing your money. Some are straightforward and transparent, others are less so. Today’s episode of Your Money, Your Choices focuses on the transparent and explicit fees you may pay to invest your money. These fees include, but are not limited to:

  • Annual administration costs for registered accounts
  • Transfer-out fees if you decide to leave your current financial institution
  • Withdrawal or deregistration fees if you are pulling money out of your investments, particularly RRSP’s
  • Trading or transaction fees each time you buy or sell a security
  • Management fees to pay your advisor for their advice
  • Initial Sales Charges and Deferred Sales Charges when you buy or sell mutual funds with these fees attached

It’s important to understand what they are, why they are charged, and if you are personally paying them, since it may make an impact on your planning and ongoing investments. I’ll outline how these fees might impact your personal investment decisions in a future video.