Here we go, money talk with me! Here is the question I have for you, do you think it’s good to be with one bank or have different accounts at several brokerages.
I personally feel having multiple brokerages is beneficial. The reason why people have one brokerage account or bank account is for simplicty. They want all their accounts, such as Tax Free Savings accounting, hign interest savings account, tradings, all in one spot. I also feel many people don’t shop around enough or do their own research. They buy into what it advertised the most or what they have heard of others doing.
I think the best way to learn about your money is to research about money. Once you read few articles about current trends and what gives the best interest, you will find out that all the brokerage accounts have the same perks or benefits. For example, Questrade is great for individual stock trading with low fees but, you can trade cryptocurrency with Wealthsimple. EQ Bank has the best high saving interests in the market.
These perks are hard to find if you don’t search and look and have the desire to learn about money. Always shop around. That’s why I think having multiple brokerages is a great thing.
Please leave your thoughts! I would love to hear your strategy to financial freedom…