Why is it that it is so much more difficult (time-consuming) to buy mutual funds than to sell? Every time I went in to buy mutual funds, I had to make an appointment, then physically go in, then sit through a assessment to see what portfolio mix should be, and finally make my purchase. It’s a lot of effort just so the bank can make some MER money off me.
In comparison, selling my mutual funds were really easy. I just called the bank up and sold it via telephone banking. I got it all done within a coffee break.
That strikes me as odd, why would they make it so much easier for me to sell than to buy? If I wanted to sell, then it is likely that I might want to move it out of the bank. Then the bank would get no MER and can’t use the capital for other means. I can only presume that the bank doesn’t like offering mutual fund products, but do so because of competition?
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