We aim to be as transparent as possible in all we do, starting with being clear about what we charge.
We build you a financial dashboard at no cost. No obligation. No charge. Nada. Zilch. Zero. If you haven’t already filled out the questionnaire please take some time and see why we believe our dashboard is the best in Canada. You can fill out the questionnaire here.
Investment Management Fee
If you would like to become a client and get access to our full-service offering: yes, we charge a fee with our full-service offering, but it is eclipsed by the value we create.
Fees are based on Assets Under Management (AUM). The more of your investments we manage, the smaller fee you pay.
First $2M assets — 0.95%
Next $3M assets — 0.70%
Next $5M assets — 0.50%
Next $10M+ — 0.30%
Minimum account size of $500,000
What is included?
Camber’s management fee includes:
How Do Camber Fees compare to the industry?
The fees we charge are at a discount to our competition, and our services go far beyond their offering. According to Advisory HQ, the average advisory fee in Canada for a $1,000,000 account is 1.02%1, compared to Camber’s 0.95%.
Fees in the banking and investment industry can be hard to understand or even purposefully confusing. Camber does not charge any other fees apart from our management fees (listed above), but in the spirit of transparency, we’ve taken the opportunity to highlight additional “costs” that you should be aware of.
“Nothing is certain except death and taxes.” Camber makes every effort to optimize your tax efficiency, but you’ll still have to pay taxes.
Management Expense Ratio (MER)
The management expense ratio (MER) is the embedded cost of investing using an exchange-traded fund (ETF) or mutual fund. MER is expressed as a percentage and reflects how much of the fund’s assets are used for administrative and operating expenses. This cost is taken directly at the fund level and not from your account, so it is not a very transparent cost. The average MER for a Canadian Equity fund, as reported by Morningstar, is 1.76%2. At Camber, we invest using DFA Portfolios, like the Dimension Global Equity (DFA 607), which has an MER of 0.35%3.
In both 2020 and 2021, Dimensional lowered the MER for all their Canadian Products. We are happy to partner with a company that reviews pricing, stays competitive, and passes those savings onto investors.
As stated above, Camber’s management fee includes NBIN’s costs. Typically, safekeeping and custodial fees are charged separately in the Canadian financial services industry; if Camber isn’t the right fit for you, please keep this in mind when looking for other advisors.
This is an asset class only appropriate for certain ultra-high-net-worth clients and family offices. If participating, fees are disclosed in advance. This asset class is not recommended for the majority of our clients.
Are the fees worth it?
It depends on your needs and what you value.
If you know what you are doing, the most cost-effective way to manage your investments is to do it yourself. But, like a DIY home renovation, mistakes can be time-consuming and costly.
A step-up from the DIY option is using an automated solution, like a robo-advisor. For a fee, typically 0.4% – 0.7%4, these tools provide an automated, money management solution: managing portfolio construction and rebalancing. This is a great solution for many Canadians.
Advisors and portfolio managers, like Camber, focus not only on money management but on understanding you and your money. As you build wealth, the complexities and particularities of your life grow and evolve, impacting the levers that make up your financial machine. A comprehensive understanding of your money allows the advisor to engineer structural value, beyond portfolio management, in areas such as planning, tax, estate, and, ultimately, peace of mind.
1 AdvisoryHQ. “What are the Average Financial Advisor Fees & Investment Fees Being Charged in 2021?” https://www.advisoryhq.com/articles/financial-advisor-fees-wealth-managers-planners-and-fee-only-advisors/
2 Kennaway, Grant, Pettit, Andy et al. “Global Investor Experience Study: Fees and Expenses.” Morningstar. March 30, 2022
3 Dimensional Fund Advisors, Global Equity Portfolio F https://ca.dimensional.com/en/funds/global-equity-portfolio-f
4 Globe and Mail. “Presenting Canada’s cheapest robo-adviser, the best performers and the ones who don’t like Canadian stocks much” https://www.theglobeandmail.com/investing/personal-finance/article-presenting-canadas-cheapest-robo-adviser-the-best-performers-and-the/