Author Topic: Canadians – Help me make the switch from Tangerine to Vanguard  (Read 2261 times)

Meggslynn

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Currently we have all of our TFSA’s and RSP’s in Tangerine’s Balanced Growth Portfolio. Its MER is 1.07% and it is 25% CDN, 25% US, 25% INTL, 25% BONDS. Its growth in the last three years is 15.37%.

We are 32 and 34 year old. Hoping to retire at 50/55.

Overall I am happy with this fund. I am looking to maximize however and wondering how I go about making the switch to Vanguard. Is it complicated? Based on Tangerine’s performance versus Vanguard is it worth it? Any recommendations on which fund to invest with?

Any hidden fees or other useful information I should know about?


Thank you in advance.

Le Poisson

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Re: Canadians – Help me make the switch from Tangerine to Vanguard
« Reply #1 on: August 20, 2015, 10:00:34 AM »
I switched from Investors Group to Vanguard funds via Questrade.com about 3 months ago.

Not too bad, and they offer you really good service on the phone to make the switch. I check my investments twice daily using www.IQEssential.questrade.com and find it very simple.

I'm a dummy with investments and have decided to follow the mindhive with the Couchpotato investing strategy using Vanguard funds in QT. Honestly, I have no idea what I'm doing but its fun to watch the numbers go up and down.

My only complaint is that it takes about 5 days for a fund transfer to catch between RBC and QT. Which means on a day like today when I have $250 sitting in cyberspace and watching numbers drop, I get frustrated since I'd really like to be dumping that cash in NOW!

There is about 10 pages of paperwork to fill in to open a QT account (ours is a TFSA, I need to move over our RRSP next) but most of it is simple crap you already know. Fill it in, fax it across, call to follow up. The process takes about a week.

If you want my referral code, I'm here :)

Reynolds531

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Re: Canadians – Help me make the switch from Tangerine to Vanguard
« Reply #2 on: August 20, 2015, 10:17:12 AM »
ITRADE does free ETFs for some of the trades you will need. Vanguard VEF is free, and some useful ISHARES .

Tangerine is overall pretty good though, I wouldn't totally rule out staying there. At least until you get the $50k or so to allow you to start seeing lower commissions at the discount brokers. (other brokers may be lower, I haven't checked recently)

Best of luck.

sky_northern

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Re: Canadians – Help me make the switch from Tangerine to Vanguard
« Reply #3 on: August 20, 2015, 12:14:25 PM »
Questrade is free to buy ETF. The vanguard and similar ETF have much lower expense ratios than the Tangerine funds.
Tangerine will probably charge you a fee for pulling out but if you have at least 25k you are transferring Questrade will pay the fee upto 150.

I would suggest you taking a look at the Canadian couch potato and his recommendations.