The latest FWB TV investing video is now available by clicking on the linked title here: No one can time the market consistently. It’s also housed, as usual, at Findependence.TV.
The three-and-a-half minute video covers what may be familiar ground to seasoned investors: timing the market and trying to get in or out of stocks in an attempt to avoid the next crash is usually a futile activity.
Even Keynes found it hard to time the market Continue Reading…
By Michael Katchen
Special to the Financial Independence Hub
When we launched Wealthsimple 12 months ago, investors in Canada had just two options to manage their money: Do it yourself or hire an advisor.
Doing it yourself is low cost, but overwhelming for most investors. It requires a level of knowledge, interest, and confidence to manage your life savings completely solo. Hiring an advisor is easy, but can be expensive and intimidating, even if you have a large enough balance to meet high account minimums.
At Wealthsimple, we’re building a third category: automated investing with on-demand advice. This new category combines the low costs of doing it yourself (DIY) with the real advice and sophisticated approach of a full-service advisor. We built cutting-edge technology to automate a passive investing approach and digitize the entire account opening and reporting experience. It’s convenient, allowing customers to open an investment account in 10 minutes, with no paperwork or branch visits required. And it’s not just robo-investing or robo-advice, it’s real advice delivered by real Portfolio Managers by phone, email, video chat, or text message.
So who uses an automated investment solution? Definitely not your average investor!.
What an automated investment client looks like
In an industry where 90% of clients are over 50 years old, clients of automated investment services are almost half that age. The average Wealthsimple client is a first-time investor, just starting to put money aside for both short and long-term goals. Our clients range from 19 to 89, but 80% are under 40 years old and the average is under 30. Continue Reading…
The Financial Independence Hub is excited to unveil a new Internet video project on investing made possible by FWB TV, a unit of Toronto based Financial Wealth Builders Securities.
Starting today and on a regular basis, the Hub’s sister site, Findependence.TV, will be housing video content provided by FWB TV Paul Philip CLU, CFP and his associates. These high-quality videos generally run between two and four minutes and focus on investment strategies that are quite consistent with the content normally run on the Hub blogs.
You can find the first one by clicking on this headline: Who gets the Porsche — you or your investment firm? … Fees Matter! Expect the next instalment in a week or two.
Q&A on the rationale for FWB TV
To introduce the series and explain the rationale, here is a Q&A between myself and FWB TV owner Paul Philip CLU, CFP:
Peter Grandich is a well-known financial and economic commentator and author, based in New Jersey. His fascinating story of financial success and setbacks and gradual transition to more spiritual matters can be found in his recent book, Confessions of a Wall Street Whiz Kid. ( I provided a testimonial.) You can also get a free PDF version. Find out more at his website at PeterGrandich.com.
Paul Philip is a Toronto-based financial planner and head of Financial Wealth Builders Securities. I’ve known both gentlemen for years and can say they are intimately familiar with the concept of Findependence.
In the Q&A below, Peter asks Paul about his (that is, Paul’s) conversion from a belief in active security selection to strategic indexing via the index mutual funds of Dimensional Fund Advisors (DFA).
Yes, mutual funds, not ETFs. As you will see in the interview, the pair certainly sing the praises of this “best-kept secret” but I believe it’s in the best interests of consumers to learn about this firm and the advisors who are building practices sometimes exclusively around DFA index funds. I have in the past attended several all-day seminars presented by DFA Canada and personally own some of their funds (though not exclusively). Several other guest bloggers here at the Hub focus on DFA funds and Paul will be providing the Hub with a regular blog on these topics. — Jonathan Chevreau
Peter: Paul, what are your thoughts on investing in today’s uncertain times? Continue Reading…
Here’s my latest MoneySense blog, which bears the headline When dividend investing trumps a balanced portfolio.
That’s an accurate depiction of the content but here at the Hub we’re sticking with the more offbeat headline used above. Because this column really does begin with a true story about harness racing in Florida.
How can that possibly relate to asset allocation and dividend investing? Click the above link to find out, or the Hub’s version below. And yes, the happy winner depicted below clutching a winning ticket is my wife, Ruth Snowden.
She’s known in her industry by that name. When we got married more than a quarter century ago she was concerned I might take offence that she didn’t want to use my surname in business circles. My response won’t surprise those who know us: “Honey, you can call yourself whatever you want as long as you pay half the mortgage!”. Of course, the mortgage has long been paid off, consistent with the Hub’s philosophy that “the foundation of Financial Independence is a paid-for home.” Continue Reading…
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