How to Automate Your Investing (without the giant fees)

How to automate your investing - Passiv and Questrade

A common problem that holds some Canadians back from paying the lowest possible fees in investing by becoming a DIY (do-it-yourself) investor, is that it does take a bit of learning and practice. Also since we’re not taught this in school, it can be intimidating.

Even those that aren’t intimidated by it can at times become annoyed with all the manual administrative work that is required when it comes to being a DIY investor (myself included).

For example, whether you’re a new or an experienced investor, you still have to go through the hassle of individually buying the ETFs on the exchange, doing the calculations to make sure you buy the right quantities, and rebalancing your portfolio periodically so that you don’t accidentally end up taking on too much risk.

You also have to keep tracking and checking when your dividends came in so that you can quickly invest them to maximize the compound growth in your portfolio.

This is why I’m really excited to have Brendan Lee Young from Passiv on the show along with Stephen Graham from Questrade, as they have teamed up to automate these time consuming and sometimes intimidating elements when it comes to managing and optimizing your own investment portfolio.

I’ve been using the tool very heavily myself, have integrated my wife and I’s entire investment portfolio with it, and I encourage you to try the free version now. The free version will calculate trades for you, while the Elite version also executes those trades at the click of a button and will save you tons of time (just like it has for me).

You can grab your account over at buildwealthcanada.ca/passiv. I am absolutely hooked on using it, and it’s great to see this kind of innovation taking place in Canada.

Limited time discount: Normally, Elite membership is a flat $60/year which is already a good deal. Now, for a limited time, Questrade has generously offered to subsidize subscriptions, so you can get an Elite membership for just $40. To get started with Passiv, head to getpassiv.com/canada.

Catch all the details and the full episode here:

Questions:

  1. Tell us what the Passiv tool does?
  2. What are the key benefits of using Passiv?
  3. Why did Questrade decide to partner with Passiv?
  4. Is this the first Canadian start-up that Questrade has partnered with?
  5. What do you hope this partnership will bring for Questrade’s customers?
  6. What made you build a business around this?
  7. Now for those just getting started that maybe aren’t familiar with rebalancing, why is it important to keep your portfolio balanced? (whether we do it by ourselves, or using your technology to automate the whole process)
  8. Passiv is free to use but I see that there’s also an Elite subscription. Can you tell us about these Elite features and what they do?
  9. Will you be updating Passiv and adding more features?
  10. All of this would not have been possible without Questrade’s API. Why did Questrade decide to invest in APIs?
  11. If I use Passiv or any of your partner apps, am I still covered under your account protection guarantee?
  12. Last time that I spoke with Edward, your CEO, he mentioned how you didn’t have any sort of plans to eliminate the free buying of ETFs through Questrade. Do you have any plans to modify or change this in the coming future?
  13. We’ve been hearing more and more about some companies moving to commission-free trading (for both stocks and ETFs). What are your thoughts about this shift in the marketplace?
  14. You’ve recently released a study on the top RRSP misconceptions that Canadians have. Can you tell us about this study, what you found, and what can we learn from it?
  15. It’s been a while since somebody from Questrade has been on the show. What is Questrade focused on this year, what can we expect to see from you in the coming years, and are there any exciting initiatives that you’d like to share with us?

Get Free Access to Passiv:

You can get a free access to the tools by going to getpassiv.com/canada.

Feel free to let me know in the comments if you have any questions about it. I’ve been using it for a while now and can probably help. 🙂

If I can’t, I can at the very least get one of the co-founders to answer your questions. Enjoy the tool! It’s a huge time-saver.

Kornel

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