Mutual Funds in Canada have some of the highest fees in the world.

I used to work for a mutual fund company in Canada, and in this video, I’ll go over all the reasons why I think you should avoid buying mutual funds.

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Let me explain why I think mutual funds are awful. I truly believe mutual funds are an insidious product that has cost the average Canadian billions of dollars in high-priced fees.

These fees have been used to line the pockets and fund the bonuses of mutual fund portfolio managers and high-powered financial executives to buy lakeside cottage and luxury cars.

I think it’s an inferior product to other options out there.

I must admit though, I used to part of the dark side or the problem. I used to work for a mutual fund company, one of the largest ones in Canada called CI Investments, as well as an advisor at the largest bank in Canada (RBC), and in both those roles I sold mutual funds.

In my brief time there, I saw all the inner workings and realized what a shady industry it is.

I know all the hidden tricks that these companies use to pull wool over the eyes of investors and I’m going to share it here with you.
1. Insanely High Fees of Mutual Funds

A report by Morningstar in 2017 shows Canadians have some of the highest priced mutual funds in the world, and we score Below Average when compared to 26 other countries.

While that’s better than the past, where we consistently ranked at the bottom of the barrel, it still means we are paying super-high fees unnecessarily.

The same report shows that the median expenses are 1.98% for equity funds per year, so almost 2%. This is super high.
Given a $100,000 portfolio, this is $2,000 per year you’ll be paying in fees (over 20 years, that’s almost $40,000 in fees saved!)

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