Questrade’s claim of retiring “30% wealthier” is misleading as they fail to mention what they compare their stats against.
Fidelity conducted a report that compares the returns of their managed portfolio to Questrade. Across all allocations, Fidelity has been shown to outperform Questrade portfolios, even AFTER considering fees!
Retire 30 Percent Wealthier or
Below is the comparison of Fidelity Managed Solutions vs Questrade. (Provided by Fidelity Investments Canada ULC from a study reviewing returns from November 2014 to January 31, 2021).
As you can see Fidelity funds potentially could leave you “wealthier”. This is a great example that price is only an issue in the absence of value. Yes, the fees are lower at Questrade than managed solutions through an advisor, but ask yourself, what are you getting along with those lower fees? In most cases Lower Returns and NO ADVICE! So, if you have questions or want to be educated on improving your overall financial wellbeing by the do-it-yourself investor online options out there, you are left in the dark – literally.
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