Canadian Investments - Tangerine TFSA?

[PoutineLover]

I'm looking for some advice on my investments. I'm currently with RBC, the RBC Select Growth Portfolio - Series A with a MER of 2.04. (http://fundinfo.rbcgam.com/ent/rbc-funds/fund-pages/rbf459.fs) The annualized return since I opened it in April 2016 has been 11.76%, which seems decent, but given the whole fees eat your investment thing it's probably not the best option. I am thinking of switching to Tangerine, since the MER is about half, at 1.07. The total amount of my investment is around 11K now and I invest $110 weekly. Is this a good move, or is something else better? I checked the Canadian couch potato and that seemed to be his recommendation for someone in my situation (<50K, regular contributions). If I do go to Tangerine, there are a few fund choices. They recommend the dividend one when I do their little quiz, any thoughts? (https://www.tangerine.ca/en/products/investing/tfsas/tax-free-investment-fund/index.html)
Is there anything else I should be thinking of? Is this a good move? Are there better options I haven't considered? Thanks!

[drstarter33]

the TD e-series may be still cheaper and you can set up regular investing choices there too. It was an easy task when I set one up for myself, though we had an absolute nightmare when we did it for my wife. most branch staff didnt have a clue, and it was a long process to get past their investment 'advice'

[Retire-Canada]

Is there anything else I should be thinking of? Is this a good move? Are there better options I haven't considered? Thanks!

Yes. If you are going to switch brokers move to Questrade. Buying ETFs is free and my average MER in Vanguard ETFs is 0.14%. Why give away nearly 1-2% of returns to a fund for the same investments???

[Lews Therin]

While tangerine is okay for people who don't want to do anything, it's still far behind Questrade and learning the little you need for passive index investments. (Buy the index and done.)

TD E Series is a mid-way point, you might as well go direct to a brokerage like Questrade.

By the way, 11% is not great for 2 years. (Especially since last year had 9% growth for Can, and 20% for US). There's enough right there to tell you that you are losing large amounts.

There have been changes to the Questrade system, so buying ETFs no longer cost anything so the >50k mark is no longer necessary.

[joonifloofeefloo]

You can also set up with TD direct investing or RBC direct investing (versus Questrade) and buy the cheapo ETFs in those. That's what I do.

Which brokerage we use can be critical depending on the account. (e.g., Last I tried, Questrade wasn't doing RDSPs and TD-DI wasn't accepting some of the grants for RESPs or something. Many of us find we have to have accounts at more than one institution to get all the bucks available.)

[Heckler]

Why are you in the Select Growth fund now, and why would you switch to a dividend fund?

If you dont know, do some learing. Start here:

https://www.bogleheads.org/wiki/Bogleheads®_investing_start-up_kit

[Eckhart]

I would open a Questade account, then follow the canadian couch potato portfolio you prefer for asset allocation.  I'm using aggressive, but the call is yours.  Even if your under 50k you will save on the MER and I'm assuming you want to grow this past 50k in the long run anyway.  Save time later, and start with this.  If you find it overwhelming, then go with Tangerine while you continue to learn. 

I think Dan recommends Tangerine for under 50k because at under 50k, fees won't eat into your returns as much and its a far better choice than any other options from managed advisors.

You can find a rebalancing spreadsheet I posted near the bottom of this thread.  Works great!

https://forum.mrmoneymustache.com/investor-alley/canada-investing-tax-free-savings-accounts-(tfsa)/