Last week I posted an e-mail from Shannon, a reader who related her difficulties in opening a TD e-Series Funds account. That post (and an earlier one about her experiences with TD) generated a huge number of comments. Many were supportive; others were rather condescending.
Shannon sent along another follow-up, which I’ve posted below. (Note that you may have to refer back to the comments section of the earlier to post to follow the discussion.)
I’ve spent so much space covering Shannon’s story because I’ve come to appreciate just how much resistance many investors face from financial firms when they try to simplify their investments and lower their costs. Shannon and her husband were screwed by their first investment advisor. When she went looking for help elsewhere, she didn’t get it.
As she notes, many of us who are experienced DIY investors know what to expect, and we know how to push back against the sales pitches. But many people don’t have that knowledge or confidence. I hope by sharing these stories, this blog and its readers can be a supportive community for investors who want to take back control of their own finances.