Sharon Shum wrote: Hi All,
For those of you with self-directed RESP's, do you manage the transactions yourself (ie, how do you know what to get...stocks/mutual funds/GIC/bonds?) or do you use the bank's advisors?
I'm not business savy and will likely not keep track of investments on a monthly basis so am debating whether to try the self-directed OR go with one of those group companies?
Any suggestions, feedback would be greatly appreciated.
Tks!
I would avoid the group companies like the plague. Far too many fees, and often there's limited high-fee investments, or you can't pull out if your child doesn't go to post-secondary. There's a middle ground though...most banks will let you open an RESP where they'll help you and set up regular contributions. If you're going self-directed there's always the option of using index funds and GICs if you don't want to pick individual stocks. (I am not a financial advisor, these are just my opinions)
