The Globe and Mail reports in its Thursday edition that investors scoping out exchange-traded funds as an investment for registered retirement savings plans might feel crushed by the job of selecting a few from among the 600 or so variants listed on the Toronto Stock Exchange. The Globe's Rob Carrick writes that as long as you plan to let your money compound for at least five years, and preferably 10 or more, the new Vanguard balanced ETFs are an ideal entry point. In fact, they are simple enough to steal some business away from robo-advisers. For a fee of roughly 0.5 of a percentage point, plus another 0.2 of a percentage point or so in product fees, a robo-adviser will manage a personalized mix of ETFs for you. The Vanguard balanced funds basically do the same job at a lower cost. National Bank Direct Brokerage, Qtrade, Questrade, Scotia iTrade and Virtual Brokers are on-line brokers that offer some version of zero-cost ETF investing. Mr. Carrick cautions that the biggest drawback to Vanguard's balanced ETFs just might be their straightforwardness. In a bull market like we are in today, a cult of complexity rules. People who buy into this thinking are going to regret it when the bull market fades.