I totally disagree with the picked out of the sky 20% Canadian Bank rule. It is some random number that an unnamed bias source was quoted as saying once. If you buy bankstock direct you do not need an advisor along with their fees.
 Look at the facts please before offering silly advice Over the last 25 years the banks have outperformed Berkshire and Hathaway and $60,000.00 invested then is now worth $860,000. I held these banks during the great recession and came out miles ahead as the dividend was not cut and in a drip situation more shares were bought as the prices went down. Only CIBC had a negative quarter during that whole time with the banks price drop being mostly based on fear and not financials.
 As a group they have their fingers in more pies than one can imagine and when interest rates rise the increasing spread will make them more attractive than ever.
 You should buy and hold based on your personal comfort level and not a random bias individual telling you to be afraid.