Financial 15 Split Corp T.FTN

Experienced

[NobleHouse]

Here is a question regarding FTN that l look forward to your comment as it may effect others besides myself.I deal with Investors Edge the CIBC platform. They sent me an EMail saying have l ever considered opening a Regular Investment Plan citing the old age  adage income averaging and advertising that if you do then Mutual funds are exempt from trading fees.As my wife's TFSA is composed solely of FTN and mine have other things , l thought what the heck , l would invest $500 a month so l am topping up her plan and every few months when opportune to buy additional FTN shares.The first time l did the investing some accumulated money l was charged the trading fee.Rather than call the normal desk people l called a higher up directly , a good guy who l have had dealings with in the past.He couldn't give an answer regarding my complaint as when l put him to both the FTN and Quadravest site they clearly state they are a Mutual Fund.He called back a few days later said as they trade on the TSX they are considered an ETF and not a Mutual fund as so we're subject to the trading fees.Needless to say as a 40 year customer and with my DNA , l was not satisfied with that response as l considered it Bull DooDoo and pressed the Bank to their stance They would not relent but my persistence was rewarded in a small way with 7 free trades.small comfort as that is only $49..65 .So what do you think as l questioned that CIBC in their original Email were not forthcoming and actually deceptive in their advertisement and what constitutes a Mutual Fund.I look forward to an answer from at least one person l trust for an honest take .Cheers EX

[Experienced]

Interesting post and questions my friend. I will start by saying a couple general points.... 1.... there is no free lunch 2....financial services companies/advisors make a lot of money  Now for some specifics.... As a general rule individual mutual funds are not traded on a stock exchange.  The company managing the mutual fund family may trade on a stock exchange.  So in that

[Mork102]

If you don't want to pay commission perhaps Wealthsimple is where you should place your portfolio. why do you need a financial advisor if you only invest in Ftn? if Ftn stops paying the dividend then the entire market is caput 

[NobleHouse]

Hello Mork. First l do not have a Financial advisor and have not had one since late 2008, second l said that FTN is the only entity in my wife's TFSA , mine has other things excluding FTN plus we have both a RRSP and. RRIF.I used to favour individual stocks but in the last 3 years have gradually exited all stocks in favour of ETFs that cover sectors l believe have momentum going forward and