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Wednesday, September 15, 2021

My last days as a retail investor with TD Direct

Being French Canadian - and Acadian not to say it - is sometimes strange because I do sometimes used English words that I don't exactly know the meaning, but I know that I am using them the right way. This of course is a secret. I have let say an intuition of what some words mean, without really knowing. Since my intuition is almost always accurate, I can say that I am fully bilingual without really being. It must be difficult for an outsider to understand.

Take for example that expression: "retail investor". I know its the way to describe small investors like myself, who are not institutional or professional because I read that expression many times before. However, for me, "retail" is not and elegant fit with "investor". Retail for me refer to store. There's something cheap notion that came with retail that doesn't go to well with what being an investor really mean in its strongest meaning and role.

Currently, I am counting my last days, and hopefully, my last hours as a "retail investor" with TD Direct, aka TD Waterhouse. As announced previously, my account with National Bank Direct Brokerage is now open. Between TD Direct and National Bank Direct Brokerage, I prefer TD Direct platform. but a platform is just a platform. So far, TD Direct didn't change anything yet regarding their commission fees. In result, I am saying goodbye. You need to be a bit dumb to accept paying to trade when you can perform all the trades in the word for 0$.

Thank you National Bank Direct Brokerage.

I am experiencing my last days with TD Direct on an extreme high note. Currently, my non-registered portfolio is at $135,773.98, my TFSA portfolio is a bit lower, playing in the 128k.

Thank you for everything, TD Direct.


Anonymous said...

I would print my portfolio and download all the documents.
When transferring between brokerage, there are often errors with the average cost basis. You'll probably get some dividends too at the old account for a while

Ben Graham said...

Why so many holdings?

Sunny said...

I already did that.
We'll see how it goes. I will verify everything once the transfer is completed. It haven't been done yet. It seems like TD Direct is getting a lot of transfer requests these days.

Hi Ben, the question being, why not?
I invest in what I want when I want and so far it went pretty well for me.

Anonymous said...

Hello there. Thank you for your post as it is very informative. I visited National Bank today to get information. I want to do exactly like you and transfer all my portfolio asses from TD to National Bank. Paying $9.99 per trade is a crime in 2021. I hope TD ans RBC will understand this quickly. I you ..liked the TD platform. But at the end of the saved in commissions is much more important to investors than platforms. Finally ..we can put into effect the real power of compounded dividends and reinvest them to do the magic. Why give our money away to commissions? Canadians were so unfairly disadvantaged compared to US. Not anymore...I hope.

Anonymous said...

Good move...I am transfering all my portfolio asses from TD to National Bank. If TD and RBC dinosaur dont understand what's important yo investors ($0 commissions...fractional shares ...and dripping dividends), they will loose allot....I mean allot of clientèle and market share. Respect to Banqye National and Desjardins for starting the party.

Sunny said...

Good luck with the transition. If you need any info, it might be better to actually call National Bank Direct Brokerage. People at the bank are not brokers.

As Canadians, we pay more for absolutely everything. A 0$ commission fee is an opportunity we shouldn't ignore.


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