Mutual funds are a popular investment vehicle because their diverse nature lends to a more balanced financial portfolio. Investment companies sell shares of the fund and invest the proceeds in a variety of assets under the direction of a professional money manager.
Where to Buy Mutual Funds
Advisers must be registered to sell mutual funds in their state, province or territory. Licensing requirements include the successful completion of a training course and the examination required by the province's regulatory agency.
Mutual funds may be purchased from registered advisers at:
- Banks/trust companies
- Brokerage firms
- Credit unions/caisses populaires
- Life insurance brokers and agents
- Mutual fund companies
- Mutual fund dealers
Mutual fund and life insurance companies typically sell only their own funds, while banks and dealers offer a variety of different products.
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