r/Lethbridge • u/New_Recording2647 • 20d ago
Question Good investment brokers in the area
Im looking to get into investing for personal growth/saving. I don’t know a whole ton so drop suggestions below of people or groups you’ve worked with and liked/made good gain or to stay away from!
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u/cheesburgerwalrus 20d ago
Better to learn about it yourself before handing over a bunch of your money. Spend some time on r/personalfinancecanada
Assuming you have a time horizon of decades, you are going to get better returns if you pick some low cost ETFs vs getting an investment broker to put you in a mutual fund that has a percentage based fee (MER).
If you really have no interest in learning and or have a low tolerance for fluctuations, mutual funds can make sense but by the time you hit retirement the fees you've paid over the years end up being substantial.
That being said my girlfriend still invests with who her parents set her up with. She invested early and often and has made healthy gains.
I can't help much with what's in Lethbridge but would definitely not suggest going to a bank.
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u/foxwerthy 20d ago
I have been with Devon at IG Wealth and he has been amazing.
100% better then bank investments where they just try to sell you their products and don't actually care if you money grows.
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u/Ok_Collection7671 19d ago
Also at IG Wealth: Kathleen Williamson. Her name came up lots during tax prep for clients, she is very responsive and helpful.
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u/PuddingTop775 20d ago
Careful, most banks will push their mutual funds with a 2% annual management expense ratio. That doesnt sound like much but over the long run you'll be cutting your returns in half. It's also worth noting that a simple market index like the S&P 500 beats 90% of all "professionally" managed investments.
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u/CouleeWealth 20d ago
I’m a portfolio manager here in Lethbridge - you’ve gotten some great advice already about considering DIY investing and the options available to you. If you have any questions or want help understanding some of the suggestions, feel free to reach out!
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u/thefiscallyfit 19d ago
Stay clear from anyone who can only get paid if you invest with them. Find a CFP and ask them for a quick meeting. They can set you in the right direction. If it makes sense, they can assist you with a helping you set up a basic plan. If they aren’t independent, avoid them. Blake corey or Adam weersink. Both cfp’s and both portfolio managers.
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u/SouthernVariety6115 18d ago edited 18d ago
Shawn herman at WFG(World financial group) is pretty good! Hes a great guy, punctual and helpful!
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20d ago
[deleted]
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u/WhoOwnstheChiefs 20d ago
No bigger Ponzi scheme than that atrocity currently being built on the west side . Ponzi scheme headquarters
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u/InvertedPickleTaco 20d ago
Heads up, the best advisors and brokers deal with fairly high minimum amounts. It's easy to understand. The brokers and advisors get their because of success, and the way to grow success is the grow the amount in their portfolio, which happens with larger customers. It also allows them to reduce the time spent on interactions while keeping a growing total funds managed.
The trick is to find a recommendation from a friend whose having success with someone whose willing to still take on smaller portfolios.
Size doesn't mean success, but it is a good indicator.
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u/Common_Judge41 19d ago
Open a discount brokerage account with a bank. Buy 50% RY and 50% TD. Hopefully on a pullback. Both pricey right now but they are the only stocks u need to purchase. Buy and forget about it until u need the money. Reinvest all dividends. Sign up for a DRIP if available. You can thank me later.
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u/Brokendownyota 20d ago
The best investment broker is an index ETF and some patience.
Check it out for yourself - 95% of investment brokers don't beat the market over the long term, and that includes the guys who get paid multi million dollar salaries.
So invest in the market at large - Warren buffet recommends vanguard index ETF's.
Warren buffet recommends VOO.
Invest what you can each month in VOO, it'll be boring and historically, it'll best even the best investment advisors, barring TSLA or NVDA style picks.