Mutual funds don’t require a brokerage accounts. However if you are going to buy stocks & ETFs (I don’t recommend stock picking as they don’t fare much better than passive investments in the long run), you’ll need a brokerage account like the ones at Questrade or TD. Most people here on PFC, myself included recommend Questrade as their ETFs are absolve to buy & is cheap to sell. Right now Questrade has a promo where you transfer any amount over to them in your signed up account, they’ll rebate you back again the charge your bank or investment company charges you to move your cash. Personally I don’t recommend the TD Comfort Balanced Growth Portfolio.
It’s a very expensive product, if I correctly recalled, the MER is like 2.3%. At least that’s how much it costs once i held it many years ago. I would recommend you looking into an all-in-one (aka asset allocated) index finance ETF, they can be acquired for 0.18% – 0.25% MER. Do look into them, if you’re the intense type, XGRO, VGRO & ZGRO are popular options as they’re 80% in stocks and shares, 20% in bonds.
That being said, it might not be a good idea to pull out of the TD investment, especially if it’s losing money right now as the marketplace is doing poorly. Now, the other question is, what is your investment horizon? Searching to withdraw your money within 5 years? If so, it is best not to make investments it …