You guys, I have no idea where to start with this. Can someone who knows what they're doing give sensible advice and/or starting points?
Baseline: my company needs to set up a VRSP (Quebec-specific RRSP-type plan that we're required to set up for employees to encourage retirement savings, google for more info if curious), there's me and a completely financially illiterate colleague (she's shown up on the 'antimustachianism at work' board a few times) who have been tasked with looking at this, and it seems like so far all options are crap and I'd like them to be less crap, so advice would be great.
Personally, I was looking at Vanguard for my personal RRSPs, now that I can contribute enough to make it worthwhile - aka: we bought a house, which has swallowed up much of our disposable income for the past few years, and also paid off car/student loans/all debt, which is nice. But now investments are a focus, and I'm just starting out, so I'm hoping there's a smart Quebec-er who can tell me what I need to do to not screw things up for my colleagues.
However, Vanguard doesn't have any 'officially set up' VRSPs (or do they? If they do I can't find them. Can that be set up separately? *am clueless*)
The other colleague I've got looking at this really, really likes this financial advisor (he doesn't have a single option with a management fee under 3%) and also he was condescending about talking finances to 'ladies', so fuck no. The boss is like 'why don't we just go with our bank, they've got options', which, honestly, would be the easiest option, but I'd feel crappy telling my colleagues that a 2.5% management fee is a good deal, while quietly not putting anything there and putting my money somewhere sensible with a reasonable management fee.
Thoughts? Halp? Advice? Links that might be helpful?
(Back-up plan is to set up a shitty plan that we're legally required to set up and tell people that using it is a stupid idea, and recommending Vanguard and basic personal money management, but that's a shitty back-up plan. I'd like a Plan A that works, and I don't know how to achieve it.)
