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  5. PSA: This question may be a little premature however with on line discount brokerages such as CIBC Investors Edge about to charge fees to buy and sell Mutual funds where can I find a place to park short... [Purpose High Interest Savings ETF]
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Investment Q&A

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Q: This question may be a little premature however with on line discount brokerages such as CIBC Investors Edge about to charge fees to buy and sell Mutual funds where can I find a place to park short term cash?
I have been using Investors Edge high interest accounts which pay very little however are easy to use. Being a Mutual Fund this will incur fees in the future?
As I have twelve (12) different investment accounts this can become a little pricey for no upside other than minimal interest.
I am now looking for another home for short term cash . Ideas would be greatly appreciated.
Thanks

Asked by DAVID on January 13, 2022
5i Research Answer:

If one wants absolute security we would use GICs, with amounts less than $100,00 (can use multiple providers). ANY market based product is going to carry some risks and some costs, either trading or management fees. We have in the past recommend PSA, but there are fees here. Indicated yield is O.6%. We would still be OK with this but not all brokers sell it. Treasury bills would be another safe and very cheap option. If the cash is indeed really short term we would not suggest much else.