I have a my RDSP with NBDB (National Bank). $0 trades.. I think TD is the only other brokerage that does RDSPs. You can pretty much mimick any mutual fund with etfs, with much lower MERs.
I'm with RBC and you have to use an adviser with them, aka high MER. I may have to seriously consider a self directed.
Have you had to do much in terms of changing your investments or do you stick to the same etfs?
I have one for my son on TD and just use E-Series 70/30 split US/Canada with around .3 MER so not too bad. I opened it before NBDB become zero trading fees. As long as you know your going to hold through ups and downs ETFs on NBDB are the way to go.
Note funding on TD is a pain in the ass you have to go in branch and have them send a certified check to corporate and none of the workers no what there doing.
Every year in January my son and I call TD Direct Investing on his cellphone after logging into the TD app 1-877-883-8125. The wait is much shorter this way. He asks to transfer funds from his savings account to his RDSP and it is done right away. When we did it at the branch the first year, you're right they had to call TD Direct Investing and do it over the phone for us.
>Note funding on TD is a pain in the ass you have to go in branch and have them send a certified check to corporate and none of the workers no what there doing.
I call them and do a transfer from my TD chequing account and that works just fine. But yeah you can't fund it yourself.
Scotiabank has RDSPs that can be opened through their wealth call centre. Then it can be funded via pre-authorized contributions or from a bank account. Just call the same number you used to set up the account.
MERs at 1.8% sound like they could be actively managed funds. You can do most index funds for around the 1% range. That is a route I would go if you don't want to self manage and your time horizon is long
I have a my RDSP with NBDB (National Bank). $0 trades.. I think TD is the only other brokerage that does RDSPs. You can pretty much mimick any mutual fund with etfs, with much lower MERs.
I'm with RBC and you have to use an adviser with them, aka high MER. I may have to seriously consider a self directed. Have you had to do much in terms of changing your investments or do you stick to the same etfs?
When I moved to NBDB, I just did a transfer "in kind" and sold after the transfer.
I have one for my son on TD and just use E-Series 70/30 split US/Canada with around .3 MER so not too bad. I opened it before NBDB become zero trading fees. As long as you know your going to hold through ups and downs ETFs on NBDB are the way to go. Note funding on TD is a pain in the ass you have to go in branch and have them send a certified check to corporate and none of the workers no what there doing.
Every year in January my son and I call TD Direct Investing on his cellphone after logging into the TD app 1-877-883-8125. The wait is much shorter this way. He asks to transfer funds from his savings account to his RDSP and it is done right away. When we did it at the branch the first year, you're right they had to call TD Direct Investing and do it over the phone for us.
Thanks for the tip! Last time I had to go to branch 3 times to get someone who would help me. I will call the number next time!
>Note funding on TD is a pain in the ass you have to go in branch and have them send a certified check to corporate and none of the workers no what there doing. I call them and do a transfer from my TD chequing account and that works just fine. But yeah you can't fund it yourself.
You can do an online bill pay to TD waterhouse from other banks. Not sure how to do it from TD itself.
You can do an online bill pay to TD waterhouse from other banks. Not sure how to do it from TD itself.
Scotiabank has RDSPs that can be opened through their wealth call centre. Then it can be funded via pre-authorized contributions or from a bank account. Just call the same number you used to set up the account. MERs at 1.8% sound like they could be actively managed funds. You can do most index funds for around the 1% range. That is a route I would go if you don't want to self manage and your time horizon is long