Are you someone who’s interested in investing but doesn’t know where to begin? Or maybe you already invest but are looking to switch things up? Either way, have you ever considered investing through Tangerine? That’s right, the popular Canadian bank isn’t just for everyday banking, but also offers investment options that could help you reach your financial goals.
Investing through Tangerine is a great option for those who are looking for a user-friendly platform that’s easy to navigate. They offer a variety of investment options, such as mutual funds and market-linked GICs, which can help diversify your portfolio. Plus, the fact that Tangerine’s investments are focused on index funds means that you’ll be investing in a diversified pool of stocks, which can help reduce your overall risk.
But don’t just take my word for it, Tangerine has consistently been recognized for their investment offerings. In fact, they’ve been named “Best Online Investment Company” by MoneySense for multiple years in a row. So whether you’re a first-time investor or a seasoned pro, it’s worth considering whether investing through Tangerine could be the right choice for you.
How to Open an Investment Account with Tangerine
Investing is one of the most effective ways to grow your wealth and achieve your financial goals. With Tangerine, opening an investment account has never been easier. Here are the steps to get started:
- Visit Tangerine’s website and click on the “Investing” tab.
- Choose the type of investment account you want to open, either a Tax-Free Investment Account (TFSA) or a Registered Retirement Savings Plan (RRSP).
- Fill out the application form with your personal information, employment details, and investment objectives.
- Choose your investment options based on your risk tolerance and financial goals.
- Select the amount of money you want to invest.
- Verify your identity and financial information.
- Review your application and confirm your investment account.
Once you’ve completed these steps, your investment account will be up and running, and you can start investing in Tangerine’s low-cost, diversified portfolios.
If you have any questions or need help with the application process, Tangerine’s friendly customer service team is always available to assist you. They can be reached via phone, email, or online chat.
Opening an investment account with Tangerine is simple, fast, and transparent. With their competitive fees and user-friendly platform, Tangerine is an excellent choice for both novice and experienced investors.
Types of investment products offered by Tangerine
Investing can be a daunting task for many, but Tangerine has made it easy by providing a range of investment products that cater to different risk appetites. Here are the various investment products offered by Tangerine.
- Tangerine Investment Funds: These are a collection of diversified index funds that provide investors with easy-to-manage portfolios that cater to different risk appetites. There are five different Tangerine Investment Funds that range from conservative to aggressive, and each fund consists of a blend of low-cost index funds. Investors can choose to invest in one or multiple funds depending on their investment goals and risk appetite.
- Tax-Free Investment Funds: These are a collection of diversified index funds that allow investors to earn tax-free returns on their investments. The Tax-Free Investment Funds come in four different options, ranging from conservative to aggressive, and each fund consists of a blend of low-cost index funds. Investors can use these funds to invest in TFSAs (Tax-Free Savings Accounts) to earn tax-free returns on their investments.
- RSP Investment Funds: These are a collection of diversified index funds that allow investors to save for retirement while earning returns on their investments. The RSP Investment Funds come in four different options, ranging from conservative to aggressive, and each fund consists of a blend of low-cost index funds. Investors can use these funds to invest in RSPs (Registered Retirement Savings Plans) to save for retirement.
Tangerine also offers investment products that are tailored to specific investment goals, such as saving for a down payment on a home or a child’s education. These investment products include:
- Tangerine Balanced Income Portfolio: This is a low-risk portfolio that provides investors with regular income payments while preserving their capital. It is an ideal investment option for individuals looking to supplement their retirement income or save for a short-term goal.
- Tangerine Balanced Portfolio: This is a well-balanced portfolio that provides investors with a mix of income and growth. It is an ideal investment option for individuals with a medium-risk appetite who want to save for a medium-term goal such as a down payment on a home.
- Tangerine Equity Growth Portfolio: This is a high-risk portfolio that provides investors with maximum growth potential. It is an ideal investment option for individuals with a high-risk appetite who want to save for a long-term goal such as a child’s education.
Investment Product Comparison
Here’s a comparison of Tangerine’s investment products:
|Tangerine Investment Funds
|Conservative to Aggressive
|Tax-Free Investment Funds
|Conservative to Aggressive
|Tax-Free Income and Long-Term Growth
|RSP Investment Funds
|Conservative to Aggressive
|Retirement Savings and Long-Term Growth
|Tangerine Balanced Income Portfolio
|Regular Income and Capital Preservation
|Tangerine Balanced Portfolio
|Tangerine Equity Growth Portfolio
With Tangerine’s range of investment products, investors have access to well-diversified portfolios that cater to different risk appetites and investment goals.
Fees and Charges Associated with Tangerine Investments
Investing through Tangerine can be an easy way to get started in the investing world. However, it is important to understand the fees and charges associated with Tangerine investments before deciding to invest with them.
- Management Expense Ratio (MER) – Tangerine charges an MER for their investment funds, which is a fee that covers the costs associated with managing the fund. The MER for Tangerine investment funds ranges from 0.80% to 1.07%, depending on the fund you choose. This fee is taken off of the fund’s assets each year and is reflected in the fund’s returns.
- Account Fees – Tangerine does not charge any account fees for their investment funds. However, they do charge a $45 fee if you decide to transfer your funds to another financial institution.
- Transaction Fees – Tangerine does not charge any transaction fees for buying or selling their investment funds. However, keep in mind that there may be fees associated with buying or selling the underlying securities within the fund.
Understanding Tangerine’s MER
Tangerine’s MER may seem high compared to some other investment options, such as ETFs. However, it is important to understand what the MER includes.
The MER for Tangerine investment funds includes all of the costs associated with managing the fund, such as research, trading, and administration fees. It also includes the fees associated with the underlying securities, such as the mutual fund’s company fees and expenses.
It is important to keep in mind that the MER is taken off of the fund’s assets, so it is reflected in the fund’s returns. However, Tangerine’s investment funds are designed to be low-cost and diversified, so the benefits may outweigh the costs.
Tangerine’s Investment Fund Fees
Tangerine offers a variety of investment funds to choose from, including equity, balanced, and bond funds. The fees for each fund vary, depending on the type of fund and the MER associated with it.
|Equity Growth Portfolio
|Equity Income Portfolio
|Balanced Income Portfolio
|Balanced Growth Portfolio
It is important to consider the fees associated with each investment fund before making a decision. It is also important to consider your investment goals and risk tolerance, as well as the fund’s historical performance.
Overall, investing through Tangerine can be a great way to get started in the investing world. However, it is important to understand the fees and charges associated with Tangerine investments before making a decision.
Comparing Tangerine investment options with other financial institutions
If you’re thinking about investing your money, you might be wondering if Tangerine is the right fit for you. One way to determine this is to compare Tangerine’s investment options with those of other financial institutions. Here are some of the key differences to consider:
- Management fees: Tangerine’s investment funds have a relatively low management fee compared to many other institutions. This can help you keep more of your investment returns over the long term.
- Diversification: Tangerine offers a range of investment options, ranging from conservative to aggressive. This allows you to diversify your portfolio and allocate resources to different types of investments. Other institutions may not offer the same level of choice.
- Accessibility: Tangerine’s investment platform is designed to be easy to use, with a user-friendly website and mobile app. This can be beneficial for new investors who may not be familiar with the investment process. Other institutions may have more complicated interfaces that can be intimidating to navigate.
Another way to compare investment options is to look at the specific investments offered by different institutions. Here’s a table that compares Tangerine’s investment options with those of some other popular financial institutions:
|Types of Investments
|Minimum Investment Required
|Mutual funds, ETFs
|Stocks, mutual funds, ETFs, options, futures, forex
|Stocks, mutual funds, ETFs, bonds, CDs
|Stocks, ETFs, options, cryptocurrency
As you can see, the types of investments offered by different institutions can vary greatly. For example, Tangerine only offers mutual funds and ETFs, while TD Ameritrade offers a much wider range of options. Depending on your investment goals, you might prefer one type of investment over another.
Tips for maximizing returns on Tangerine investments
Investing with Tangerine can be a great way to grow your money over time. To get the most out of your Tangerine investments, consider these tips:
- Set up automatic contributions: One of the best ways to maximize your returns on Tangerine investments is to set up regular, automatic payments into your accounts. This ensures that you are consistently adding to your investments, even if you forget about them.
- Diversify your portfolio: Tangerine offers a variety of investment funds to choose from. By diversifying your investments across multiple funds, you can reduce your risk and potentially increase your returns.
- Rebalance your portfolio regularly: Over time, your investment portfolio may become unbalanced as some funds perform better than others. By rebalancing your portfolio regularly, you can ensure that your investments are spread out evenly and your risk remains at an appropriate level.
If you’re new to investing, it’s important to remember that your returns will vary based on a number of factors, including the market and the specific investments you choose. That said, by following these tips, you can help maximize your potential for long-term growth and success.
For a more detailed analysis of your investments and how to maximize your returns, you may want to consider consulting with a financial advisor.
Comparing Tangerine’s investment options
Tangerine offers a variety of investment funds to choose from, including:
|Equity Growth Portfolio
|60% Equities, 40% Fixed Income
|Fixed Income Portfolio
|100% Fixed Income
It’s important to carefully consider your investment goals, risk tolerance, and time horizon when selecting the right investment fund for you. Be sure to read the prospectus for each fund and seek professional advice if necessary.
How to Withdraw Funds from Tangerine Investment Accounts
Withdrawing funds from your Tangerine investment accounts is a straightforward process. Here are the steps to follow:
- Log in to your Tangerine account.
- Select the investment account that you wish to withdraw funds from.
- Click on the “Withdraw” button.
After completing these steps, Tangerine will typically process your withdrawal request within two to three business days. Keep in mind that if you have any outstanding transactions, your withdrawal may not be processed until those transactions have been settled.
Now that you know the basic steps for withdrawing funds from your Tangerine investment accounts, it’s also important to understand any fees that may apply. Here is a breakdown of the fees you may encounter:
|Type of Fee
|When it Applies
|When you withdraw funds from any of your Tangerine Mutual Funds before the 90-day mark of opening the account
|When you transfer your account to another institution
|May include account closure fees, cheque re-issuance fees, and other miscellaneous fees
It’s important to be aware of these fees upfront, so you can make informed decisions about your investments.
Common mistakes to avoid when investing with Tangerine
Investing with Tangerine is a great way to grow your wealth without the hassle of managing individual stocks and bonds. While their investment offerings are straightforward, there are common mistakes investors make that can hinder their progress. Below are seven mistakes to avoid when investing with Tangerine.
- Failing to diversify: Investing all your money in one Tangerine fund or asset class leaves you vulnerable to market fluctuations. Diversifying your portfolio across multiple Tangerine funds can help minimize risk and balance potential gains and losses.
- Timing the market: Attempting to time the stock market is a risky strategy that can lead to missed opportunities and steep losses. Instead, stick to a long-term investment plan and let the market work for you.
- Ignoring fees: While Tangerine’s investment fees are among the lowest in Canada, they still matter when it comes to growing your wealth. Over time, even small fees can eat into your returns. Pay close attention to the fees associated with your Tangerine investments and consider rebalancing your portfolio periodically to keep them in check.
- Reacting to short-term market swings: It’s tempting to sell when the market takes a dip, but this can be a costly mistake in the long run. Stay disciplined and stick to your investment plan, rather than reacting emotionally to short-term fluctuations.
- Not contributing on a regular basis: Consistency is key when it comes to investing. Make a plan to contribute to your Tangerine investments on a regular basis, whether it’s weekly, bi-weekly, or monthly. This can help you take advantage of dollar-cost averaging and stay on track towards your financial goals.
- Overlooking automatic rebalancing: Tangerine offers automatic rebalancing to help keep your portfolio aligned with your investment goals. Ignoring this feature can lead to an unbalanced portfolio that doesn’t match your risk tolerance or investment timeline.
- Expecting overnight success: Investing is a long-term game that requires patience and discipline. Don’t expect to see overnight success with your Tangerine investments. Instead, focus on building a diversified portfolio and adhering to a consistent investment strategy.
Diversification Example for Tangerine Portfolios
To help illustrate the importance of diversifying your Tangerine portfolio, consider the following example:
|Tangerine Balanced Portfolio
|Tangerine Equity Growth Portfolio
|Tangerine Dividend Portfolio
|Performance (as of August 31, 2021)
In this example, the Tangerine Equity Growth Portfolio has outperformed the other two portfolios. However, if an investor had invested all their money in this high-risk portfolio, they would have missed out on the more stable returns of the Tangerine Balanced Portfolio and Tangerine Dividend Portfolio. By diversifying their investments across all three portfolios, an investor can balance risk and return and potentially achieve more stable long-term gains.
Can You Invest Through Tangerine? Frequently Asked Questions
1. What types of investments can I make with Tangerine?
With Tangerine, you can invest in various financial products such as savings accounts, Guaranteed Investment Certificates (GICs), and mutual funds.
2. How do I open an investment account with Tangerine?
Opening an investment account with Tangerine is easy. Simply visit the Tangerine website, click on the “Investing” tab, select the type of account you want, and follow the prompts to open the account.
3. What are the fees associated with investing with Tangerine?
The fees associated with investing with Tangerine vary depending on the type of investment product. However, Tangerine is known for having low fees compared to traditional banks and investment firms.
4. Can I transfer my existing investment portfolio to Tangerine?
Yes, you can transfer your existing investment portfolio from another financial institution to Tangerine. Tangerine offers a transfer process to help make the move easy.
5. What types of investment accounts does Tangerine offer?
Tangerine offers both Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs), as well as non-registered investment accounts.
6. Can I set up automatic contributions to my Tangerine investment account?
Yes, you can set up automatic contributions to your Tangerine investment account. This can be done through your Tangerine online banking portal.
7. How does Tangerine choose its mutual funds?
Tangerine chooses its mutual funds based on the expertise of a team of investment professionals who have a proven track record of successful investing. The funds are carefully selected to provide a diversified and balanced investment portfolio for investors.
8. Is my money safe with Tangerine?
Yes, your money is safe with Tangerine. Tangerine is a member of the Canada Deposit Insurance Corporation (CDIC), which means that your deposits are insured for up to $100,000 in case of bank failure.
A Closing Note: Thanks for Choosing Tangerine!
Thank you for taking the time to read our FAQ about investing with Tangerine. We hope we’ve answered all of your questions and provided you with valuable insight into how Tangerine can help you achieve your investment goals. We pride ourselves on our easy-to-use platform, low fees, and expert investment advice, and we hope that you’ll consider investing with us. Feel free to visit us again later for all your investing needs!