Take a Look at Your Investment Fees

Take a Look at Your Investment Fees

The second year of BCSC InvestRight’s Take a Look at Your Investment Fees campaign is underway—just in time for Registered Retirement Savings Plan (RRSP) season.

Everything you need to know about investment fees is available on InvestRight.org. Visit the Take a Look at Your Investment Fees page to access important resources and learn how to evaluate the ways fees may affect your portfolio.

Know How Fees Impact Your Investment Returns

This year, we’re showing investors how fees affect their investment returns over time. For example, a 1 per cent difference in fees on a $50,000 investment could mean an extra $17,500 over 20 years. So, take a look at your investment fees. It’s worth it.

Our Investment Fee Calculator has all of this information. It’s an interactive tool you can use to compare products or providers.

We also have an Investment Fee Quiz to test your knowledge of investment fees. Spend a few minutes answering the questions to find out where your blind spots are and see how much you already know.

The Investment Fee Guide provides more context and detail to investors who already know about fees. This free guide is also a great resource when you’re looking at specific types of investments or considering a registered investment advisor.

The Registered Retirement Savings Plan (RRSP) Deadline is March 1

The deadline to contribute to an RRSP for the 2017 tax year is on March 1, 2018.

As you plan how much to contribute, consider the fees that come with buying and selling investments. A 1 per cent higher or lower difference in fees can add up over time. Our Investment Fee Calculator can help you see how fees impact returns.

INVESTMENT FEE CALCULATOR

The RRSP deadline is also a great time to check in with your registered investment advisor. Ask them how your account has performed over the last year. You may also want to review your relationship with your advisor and go over recent account statements or communications, including your Annual Charges and Compensation Report.

We have more information on registered investment advisors in the Know Your Advisor section of InvestRight.org.

Why Should I Learn About Investment Fees?

Simply put, it’s worth it.

BCSC InvestRight wants investors to learn about investment fees because of changes to how investment advisors and their firms disclose the costs of investing. These changes are known as the Client Relationship Model, Phase 2 (CRM2).

In July 2017, BCSC InvestRight released the final results of a study that looked into how CRM2 and new investment fee communications affected British Columbians’ understanding of fees. The study showed that investors in B.C. know more about fees as a result of these changes, but there is more to do to help people understand the impact of fees on investments.

INVESTMENT FEES & CHARGES

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If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.

InvestRight.org is the British Columbia Securities Commission’s investor education website.