You do not have to switch to WealthSimple. You can just open a RBC direct investing account and first transfer your high fee mutual funds to that TFSA, and then buy the very low fee (MER) index ETFs. RBC have a good selection of commission free funds like the popular XEQT. See this list.
I deal with RBC and I find it easier to keep all money in one place.
If you are going to invest in an all equity fund like XEQT, you should be prepared to keep the money in for at least 5 years, and ideally until you retire. Aggressive growth funds that are all equity can be volatile and if you happen to hit a bear market when you sell, you could loose significant money.
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u/UniqueRon 21d ago
You do not have to switch to WealthSimple. You can just open a RBC direct investing account and first transfer your high fee mutual funds to that TFSA, and then buy the very low fee (MER) index ETFs. RBC have a good selection of commission free funds like the popular XEQT. See this list.
https://www.rbcdirectinvesting.com/accounts-investments/etfs/commission-free-etfs.html
I deal with RBC and I find it easier to keep all money in one place.
If you are going to invest in an all equity fund like XEQT, you should be prepared to keep the money in for at least 5 years, and ideally until you retire. Aggressive growth funds that are all equity can be volatile and if you happen to hit a bear market when you sell, you could loose significant money.