Here's another interesting point.  A large brokerage has changed the TFSA management fee from yearly to quarterly.  That means that if an investor deposits new cash of $5,500- to the account in the first quarter, one percent will be charged even if it remained in cash and there were no trades.  However, free trades are being increased from 8 to 16 so if you trade enough you might be ahead.  I'm changing to an on-line account for this TFSA..