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  5. ZSP: Hi, I am new (about 1 year) to investing. [BMO S&P 500 Index ETF]

Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Hi, I am new (about 1 year) to investing. After being approached from the branch level financial advisor, I figured it might be best at the time. He put all my funds into two items namely:

BMO Covered Call Canadian Banks ETF Fund
and
BMO U.S. Equity ETF Fund. This one had the most funds.

Since that time I have redeemed some funds and opened BMO Investorline account and purchased about 10 different stocks/etf's. The branch level financial advisor never calls or emails any advice period other than to say I am making about 18% and should be happy with that. Really??

2 days ago a lady from BMO investment center calls me and tells me I am paying 1% in management fees and can save ~ 0.66% by purchasing BMO95722 which shows up as BMO U.S. Equity ETF Fund. Yesterday I put in a redemption request for the balance of the BMO U.S. Equity ETF Fund (on my bank account page that name doesn't have any stock symbol) and the funds will be in my bank later this morning.

What I am trying to accomplish right now is to just make enough via investments to pay for living where I am. And hopefully some growth in the value of the investments.

The question I have is, would buying BMO95722 be the right or best choice of investments.

Thank you for any assistance with this.
Asked by Eli on November 06, 2024
5i Research Answer:
While we cannot personalize responses, we believe the BMO US Equity ETF Fund is Series A, which...

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in SPY.

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