Once transferred, should you change investments?
I’m not sure how you’re invested, so I can’t say that I can offer you a suggestion.
If you have a general, broad-based, Canadian, U.S. or international fund, then it is likely OK to switch to another similar fund, or similar exchange-traded fund (ETF), with lower fees, which you have more faith in.
Your question becomes trickier if you are holding a specialty fund, like technology or bitcoin, or a very concentrated fund or a fund holding a minimum number of stocks.
In this case, you’ll have to revisit your reasoning for holding that type of fund in the first place and then make a judgement call.
Luck or gamble for long-term investors
No one has a crystal ball. If it’s not a lot of money relative to the size of your portfolio, you may decide to keep it as a reminder and with a bit of luck—who knows.
Miki, if your bank investments are bothering you and you’re comfortable with the approach you are taking elsewhere, then it is OK for you to take action and transfer the funds.
Finally, I don’t want to leave you without mentioning the value of advice beyond investments. Your planner should be helping you identify the things you want in life and how to get them and keep them. When you have that in place, step back and look at the big picture, it’s a little easier to deal with the market ups and downs.
Allan Norman provides fee-only certified financial planning services through Atlantis Financial Inc. Allan is also registered as an investment advisor with Aligned Capital Partners Inc. He can be reached at atlantisfinancial.ca and [email protected].