Continuing from Part I (click here to view), Peter Aceto and I move the discussion to some of their other product offerings and discuss the possibility of their own discount brokerage, as well as his reaction to new competitors in their business.
With respect to the mutual fund line-up, I should point out that I work for a Fundamental Index manufacturer (Pro-Financial Asset Management) and am a proponent of Fundamental Indexation. There are plenty of cap-weighted indexation options out there, and Peter explains ING’s value proposition in this space. For more information on Fundamental Indexation, click here for a brief synopsis.
But now on to the next part in the interview… Enjoy!
Thank-you
I have a recent beef with ING that I think the public needs to know about.
To make a long story short I attempted to change my mailing address since I no longer live in my former community, having sold my home. I have chosen to live in a travel trailer and thus have no street address. Since I couldn’t provide a street address ING FROZE my account. I was denied access to MY OWN MONEY.
This is an intolerable high-handed tactic, and discriminates against anyone that chooses not to live in a bricks and mortar house.
Be careful dealing with ING.
Thank you!
For the most part I’m happy with ING Direct. The only thing that bugs me is something Peter Aceto pointed out that the competition does is promote featured products with high rates – and then later they lower these rates. Take for instance the Tax-Free Savings Account Rates: http://www.ingdirect.ca/en/accounts-rates/historicalencadtfsaisa.jsp
So that’s a no to discount broker , just because he takes 3min. to say that does not make it a yes.
I would really like for ING Direct to start up a discount brokerage, I bet the prices and software and customer service would all be superb, and bright orange too. You can see Canadian discount brokerages prices side by side at http://www.discountbrokerages.ca. Compare them really easily.