TD RESP how to buy E-series?
What would the process be to open a Waterhouse for a RESP account. Thanns
Ten blind humans - a disaster
One million blind humans - a statistic
May 29th, 2017 10:34 pm
May 29th, 2017 11:22 pm
May 30th, 2017 12:04 am
May 30th, 2017 12:39 am
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?
May 30th, 2017 9:24 am
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.
May 30th, 2017 9:36 am
May 30th, 2017 2:08 pm
Jul 4th, 2017 8:20 pm
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.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 $100 each month so that it is free (provided you have less than 25k in the account you open).
Opening a non td di account just adds extra steps. They also give you an easyweb debit card which I don't need (less cards the better). Just my 0.02$
Jul 5th, 2017 9:49 pm
Yes and thats what i mean by the account needs to be converted.
Obviously the simpler step is to open a DI account and go from there (less forms you need to fill out the better).
Jul 6th, 2017 9:47 am
Jul 6th, 2017 2:01 pm
Jul 6th, 2017 3:59 pm
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.blessedbypotato wrote: ↑May 30th, 2017 9:36 am1. 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.
Jul 6th, 2017 8:28 pm