Adding online trading to your investment mix

How DIY investing can complement your portfolio

Some people like to have a hands-on approach to their investment portfolio. Or at least part of it. If there's a place for do-it-yourself or DIY investing in your overall portfolio, share that information with your financial or investment advisor so that together you can keep your financial plan in balance.

Online trading has made it easy for individuals to invest on their own – and it's not expensive, depending on how frequently you trade. For many, it's exciting – do a little research, buy a stockᶲ, watch its performance, and decide when to sell.

If you choose to take a portion of your investments and manage them on your own, it's best to let your financial or investment advisor know. Knowing that a portion of your wealth is "in play", they may adjust the remainder of your portfolio to minimize overall risk.

Online trading can certainly play a role in your financial plan – it just needs to be tracked and accounted for to help keep your overall plan in balance.

Keep your advisor in the loop

Your financial advisor and your investment advisor work for you. As such, they have your best interests in mind with every recommendation they make. It makes sense to keep your lines of communication open.

In many cases, sharing your online investment activity and strategy with your advisor can yield some interesting insights and opinions. You might even gain some market strategies to inform your next investment move.

Getting started

One way to begin online trading is with a Tax-Free Savings Account. It's a contained vehicle that allows you a wide latitude for pursuing self-directed investing in the market. Under a TFSA you can purchase and administer mutual fundsᶲ, stocksᶲ, bondsᶲ, ETFsᶲ, as well as cash and term deposits.

BlueShore’s online brokerage service through Qtrade Direct Investing^™ gives access to one of Canada’s top DIY trading platforms, a suite of investing tools, up-to-the-minute quotes, market news and research.

If you have some or all of your wealth that you are managing on an online trading platform, be sure to talk to your financial advisor so you are aligned in what steps to take to meet your financial goals.