Wealthsimple and Questrade Demand Ottawa End RRSP Junk Fees | iPhone in Canada
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Toronto-based fintech Wealthsimple is taking aim at the federal government for allowing banks and investment firms to gouge Canadians with what it calls junk fees on their own savings. In a submission to the 2025 federal pre-budget consultation—ahead of the Nov. 4 budget release—the company warned that exit and transfer charges on registered accounts like
  • Em Adespoton@lemmy.ca
    6·
    13 days ago

    In a submission to the 2025 federal pre-budget consultation—ahead of the Nov. 4 budget release—the company warned that exit and transfer charges on registered accounts like RRSPs, TFSAs, RESPs and FHSAs are spiralling out of control and need to be curbed.

    • Avid Amoeba@lemmy.ca
      2·
      13 days ago

      Big ass skepticism when I hear from Michael Katchen but maybe his profit motive is in our interest this time.

      • Em Adespoton@lemmy.ca
        6·
        13 days ago

        Thing is, I’ve had all of those things, used them appropriately, and never had to pay those ‘junk fees’. Makes me think the idea is that they want to make money through loopholes that don’t currently exist because of said “junk fees”.