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TD RESP how to buy E-series?

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  • Sep 14th, 2017 3:24 pm
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[OP]
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Sep 13, 2003
8581 posts
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TD RESP how to buy E-series?

So I went to a TD branch and wanted to open a Waterhouse account for my resp for my kiddo. How do I go about doing this ? I talked to someone at the bank but it's useless they don't even know what an eseries is.

What would the process be to open a Waterhouse for a RESP account. Thanns
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27 replies
Newbie
Apr 23, 2011
21 posts
5 upvotes
Toronto
Just open an TDDI RESP account and don't bother mentioning anything about eseries. Once the account is open, you can buy anything you want including eseries. If possible, open account at a Waterhouse location as they should know what they're doing.
Newbie
Nov 26, 2015
15 posts
1 upvote
Montr
1. Schedule an appointment at a branch
2. Tell them you want to open a RESP TD Direct Investment account, it is useful to also open a Savings account with TD (it's free, no fees to keep it open and makes funding easier).
3. Wait a few days for the account to be opened.
4. Fund the account (automatic payments or do an interac transfer to yourself and deposit in your savings account, then move it to the RESP)
5. Log in to TD WebBroker, search within the Mutual Funds for the E-Series and buy them.
[OP]
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Sep 13, 2003
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someguy23 wrote:
May 30th, 2017 12:04 am
Just open an TDDI RESP account and don't bother mentioning anything about eseries. Once the account is open, you can buy anything you want including eseries. If possible, open account at a Waterhouse location as they should know what they're doing.
So if I should be able to open my kid a waterhouse account? Or add a RESP account to my waterhouse account?

Lady at branch said I can't.
One blind human - a tragedy
Ten blind humans - a disaster
One million blind humans - a statistic
Jr. Member
Feb 26, 2017
197 posts
46 upvotes
aquariaguy wrote:
May 30th, 2017 9:03 am
So if I should be able to open my kid a waterhouse account? Or add a RESP account to my waterhouse account?

Lady at branch said I can't.
I think there is a $50 yearly admin fee for having an RESP that is worth less than 25k in a TD Direct Investing/Waterhouse account. From what I've read it doesn't factor in the balance your other TD accounts.

I use TDDI for my own unregistered, RRSP and TFSA accounts, but have mutual funds accounts set up for my kids RESPs. I have it set up to contribute $104 twice a month to max out the $2500 per year for the RESP. Right now its automatically buying 50% CDN and 50% US Index funds.
Newbie
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Oct 25, 2016
26 posts
41 upvotes
1. Schedule an appointment at a branch
2. Tell them you want to open a RESP mutual Fund account. If E-Series is you are looking, do not open direct investment account. Just say you needs TD mutual fund account. (Why to Pay TDDI Admin fee every year)
3. When they ask you to complete Investor questions, select answers for most risky. this will latter help you make your own portfolio, otherwise they may not let you buy more %age of Equity fund.
4. At the End of questions, they will suggest some high MER funds, Just tell them to select Money Market Mutual fund which do not have short term trading fee attached to it.

From this point onward the nice lady will not be so nice and will do everything to make to choose high MER fund and changes tone of talking.

5. Ask them to Link your Bank account (Any bank Account ) with your new TD Mutual fund account by providing them with a Blank Void cheque.
6. Tell them you do not wish to transfer any money right now, you will do it latter online.
7. IF they wants to open a saving account with it, let them do it. its free.
8. Go to : http://www.tdcanadatrust.com/document/P ... ccount.pdf Download the form, fill in account details you just opened. Post it to required address.
9. Enjoy beer for few days
10. Log-in to easyweb.td.com , check when TD-E-Series funds appears in your buy screen
11 once E-Series appears, just place a buy order with your desired allocations.

There is one problem that happened after few months, Login stopped working because saving account got closed due to in-activity.
Resolution: Call them ( going to branch may not be helpful) and ask if problem is in-active saving account. they should issue you a new Online Login only CARD. this card as 10 digits number on it and only used for login to eastweb.td.com.
Deal Addict
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Sep 14, 2008
1523 posts
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Winnipeg
^ pretty sure you can't buy e-series mfs without a td di account. So the account in step 2 needs to be fixed/converted.
Tell them you want a td di account and if you're worried about fees contribute minimum $100 each month so that it is free (provided you have less than 25k in the account you open).

Opening a non td di account just adds extra steps. They also give you an easyweb debit card which I don't need (less cards the better). Just my 0.02$
Sr. Member
Jan 8, 2006
917 posts
223 upvotes
So which is it?

Open TD Mutual and than convert to DI

Or

Open DI with $100 monthly contribution

I am planning to open RESP account if not tomorrow than this week.
Deal Fanatic
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Feb 28, 2006
6470 posts
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Richmond Hill
bigjee wrote:
May 30th, 2017 2:08 pm
^ pretty sure you can't buy e-series mfs without a td di account. So the account in step 2 needs to be fixed/converted.
Tell them you want a td di account and if you're worried about fees contribute minimum $100 each month so that it is free (provided you have less than 25k in the account you open).

Opening a non td di account just adds extra steps. They also give you an easyweb debit card which I don't need (less cards the better). Just my 0.02$
You can buy e-series if you convert your regular mutual funds accounts to an e-series mutual funds account using their conversion form.
Deal Addict
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Sep 14, 2008
1523 posts
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Winnipeg
jeffyjaixx wrote:
Jul 4th, 2017 11:34 pm
You can buy e-series if you convert your regular mutual funds accounts to an e-series mutual funds account using their conversion form.
Yes and thats what i mean by the account needs to be converted.
comp_freak wrote:
Jul 4th, 2017 8:20 pm
So which is it?

Open TD Mutual and than convert to DI

Or

Open DI with $100 monthly contribution

I am planning to open RESP account if not tomorrow than this week.
Obviously the simpler step is to open a DI account and go from there (less forms you need to fill out the better).
I dont see the point of having a MF account if youre not going to use it only to have it converted to DI.
Sr. Member
Oct 11, 2010
886 posts
261 upvotes
Charlottetown
It's not even worth the hassle IMO, I would just do a simple ETF portfolio with Questrade instead if it were me.
Member
Dec 26, 2013
293 posts
61 upvotes
blessedbypotato wrote:
May 30th, 2017 9:36 am
1. Schedule an appointment at a branch
2. Tell them you want to open a RESP mutual Fund account. If E-Series is you are looking, do not open direct investment account. Just say you needs TD mutual fund account. (Why to Pay TDDI Admin fee every year)
3. When they ask you to complete Investor questions, select answers for most risky. this will latter help you make your own portfolio, otherwise they may not let you buy more %age of Equity fund.
4. At the End of questions, they will suggest some high MER funds, Just tell them to select Money Market Mutual fund which do not have short term trading fee attached to it.

From this point onward the nice lady will not be so nice and will do everything to make to choose high MER fund and changes tone of talking.

5. Ask them to Link your Bank account (Any bank Account ) with your new TD Mutual fund account by providing them with a Blank Void cheque.
6. Tell them you do not wish to transfer any money right now, you will do it latter online.
7. IF they wants to open a saving account with it, let them do it. its free.
8. Go to : http://www.tdcanadatrust.com/document/P ... ccount.pdf Download the form, fill in account details you just opened. Post it to required address.
9. Enjoy beer for few days
10. Log-in to easyweb.td.com , check when TD-E-Series funds appears in your buy screen
11 once E-Series appears, just place a buy order with your desired allocations.

There is one problem that happened after few months, Login stopped working because saving account got closed due to in-activity.
Resolution: Call them ( going to branch may not be helpful) and ask if problem is in-active saving account. they should issue you a new Online Login only CARD. this card as 10 digits number on it and only used for login to eastweb.td.com.
This^. I made the mistake of telling them i wanted eseries, they gave me the run around, saying i could only do this online etc. No need to mention eseries, just the money market fund, then convert it. RESPs are much more user friendly with a TDCT account than with a TDDI account. Ive had both.
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Oct 14, 2001
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GMA
jfall wrote:
Jul 6th, 2017 9:47 am
It's not even worth the hassle IMO, I would just do a simple ETF portfolio with Questrade instead if it were me.
I second that. It becomes even easier if using swap-based ETF since there's no distributions to manage.

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