In February, the only way to avoid RRSP ads would be to go to North Korea without a cellphone or laptop. Mutual fund managers, brokers, robot advisors and banks all share a common goal. That of convincing you that you have an interest in putting money into an RRSP account (this is often the case). Above all, they want to convince you that this RRSP account should be at home, or that the money in the RRSP account should be invested in one of their financial products.
Because online brokers in Canada do not do a lot of advertising, these RRSP ads have something else in common. They are designed to convince you that you should not invest your money yourself (via an open RRSP account with an online broker), highlighting the complexity of the stock market. Then, these pubs tend to reassure you by showing you a rising market curve or a man (it is rarely a woman in these ads) with salt and pepper hair that seems both friendly and trustworthy.
In Canada, 20% of adults have an online brokerage account and invest their own money in the stock market. In the United States, where online brokerage competition is more fierce, this proportion rises to 25%. It is therefore not necessary to have a doctorate in finance to invest in the stock market. Copying a model ETF portfolio is within everyone’s reach. And invest in Action s, though it requires more effort, is not that the sorcerer financial services industry suggests.
That’s why we decided to create a small satirical video to make fun of RRSP ads. The message we wanted to convey with this video is that people who are smart enough to make a living (and save money) are smart enough to invest in the stock market. And, of course, it is thought that independent investors who synchronize their brokerage account with the Hardbacon app will have everything they need to manage their investments like pros without breaking their heads.
Here is our parody of RRSP ads. Share it on Facebook if you agree with us.