Last October, a few months before launching this blog, I became a member of the Investors-Aid Co-operative of Canada. Based in Vancouver, the Co-op is a national consumer organization whose mission is “to provide members education, publications, online tools, and discounts that help ensure low investment costs and fair returns.” I joined because I wanted to support an organization that’s working hard to show Canadians about better ways to manage their investments.
The group’s founder and executive director, Garth Rustand, knows all about the plight of investors in this country: he spent 15 years as a broker with CIBC Wood Gundy. Convinced that the industry was not serving its clients, he left that job in 2002 and launched the Co-op in 2008. (Read these stories in The Globe and Mail and The Vancouver Sun to learn more.) I got to know Garth better when I interviewed him for an article I wrote in More magazine last spring about why I think David Bach, author of The Automatic Millionaire, is full of crap.
I get a lot of e-mails from readers who are thinking about ditching their high-priced mutual funds and need some help guidance.