Total Cost Reporting Is Coming

There’s plenty of evidence that Canadian investors are unaware of, or are insensitive to, investing costs. For example, DIY (Do-it-Yourself) investors purchased mutual funds through discount brokers with embedded trailing commissions intended to compensate dealers for providing clients advice. But discount brokers are not permitted to provide personalized advice. As of 1 June 2022, discount brokerages were banned from selling mutual funds that have charged investors billions of dollars...