Surprise! Your "no fee" investment actually has a fee.
It's January 2017. You get a thick envelope from your "financial institution". It's your year end statement. Those 18 pages that you look at for 3 seconds, just long enough to see if the number on the bottom of page 1 is bigger than last year. What you may have missed was a new page, added waaay at the back, that tells you exactly how well your portfolio performed. Oh, and exactly how much you paid to be invested. I wrote all about this new section in a post for Manulife's Looking Forward Blog.