I’m not very knowledgeable when it comes to investing, so I’m hoping for some guidance. A few months ago, I switched my RRSP to RBC InvestEase and selected the socially responsible portfolio because I wanted my investments to better reflect my values. Recently, I started receiving letters from iShares (BlackRock) thanking me for my investment. I didn’t realize that my money would be going through BlackRock, and I’m not comfortable with that. What are my options if I want my RRSP to: Be managed by a Canadian company Invest primarily or exclusively in Canadian organizations Follow socially responsible investing principles Is this something I can request through RBC, or would I need to move my RRSP elsewhere? Thanks in advance for any advice.

  • GrindingGears@lemmy.ca
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    5 days ago

    You will have to self direct to do this. Open an account with one of the commission-free places, like Wealthsimple or Questrade. Anything that’s overseen by an advisor will have international equity allocations, including exposure the country to our south. They are in the middle of a historically unprecedented bubble, so I mean this is the debate you’ll have to have internally with yourself. I don’t want to invest with them either, but putting your (very obviously legitimate) hard feelings aside for a moment and thinking objectively, thats where the return is being found right now.

    This is your retirement after all, and it’s not necessarily your job or responsibility to be the moral superman of the planet. No one’s going to look after you, or care about what your investments were in, and if they are going to financially rape and pillage and unlock supercharged returns through deregulation, which in turn will unlock fraud and capitalism at the cost of just about everything good, I mean it’s going to be an all time economic disaster, but a good advisor will want you to be exposed to that, because there are returns to be made.

    Ain’t saying what you are wanting to do is bad (it’s very much not), or wrong, but you do have to look at this from all angles, and it’s important that you do because it affects your future well-being, long after all of this is (hopefully) over.