“But since you have a long-term horizon with RESPs, time is on your side. “People tend to see things in terms of current events,” Udiaver says. They may not always feel confident about their investing skills or may be rattled by the news of the day and see stock markets as high risk. Udiaver says its target client is between 27 and 42. Company chairman Terry Jackson is a former Bank of Montreal executive vice president. Invisor’s founder, Pramod Udiaver, is a chartered financial analyst. Oakville’s Invisor Investment Management is one example of the trend, which has taken off in the U.S. The portfolio is automatically adjusted over time.
Then a computer program chooses a portfolio, usually a basket of low-cost mutual funds or exchange trade funds (ETFs). These services are cheaper and usually involve filling out an online questionnaire to assess your risk and investment goals. One way to go, if you want to avoid getting advice from your bank, is new and as yet unproved, but holds potential. The latter aren’t keeping up with inflation. It means investments with the potential to grow at 5 or 6 per cent a year, compared with GICs or fixed income investments earning less than 2 per cent a year. Remember that time is on your side, and today’s headlines aren’t meaningful in five or 10 years. Strange as it may seem at a time when stock markets appear more frightening than usual, taking more risks with your RESP is better than playing it safe. With self-directed plans, the investment decisions are left to you, and that can be bewildering.
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