Investing

TD RESP how to buy E-series?

  • Last Updated:
  • Sep 14th, 2017 3:24 pm
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Sr. Member
Jan 8, 2006
961 posts
228 upvotes
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.
Thanh wrote:
Jul 6th, 2017 8:28 pm
I second that. It becomes even easier if using swap-based ETF since there's no distributions to manage.
Isn't ETF require more work compare to E-Series? I haven't open RESP yet. I still have some time. I did convert my other Registered to DI. Hopefully it will show up online soon.
Deal Addict
Jul 23, 2007
3270 posts
1130 upvotes
Anytime you put in an online purchase order for a TD e-Series fund you can select the option to re-invest your distributions. It can't get any simpler than that.
Sr. Member
Oct 11, 2010
906 posts
269 upvotes
Charlottetown
comp_freak wrote:
Jul 6th, 2017 8:40 pm
Isn't ETF require more work compare to E-Series? I haven't open RESP yet. I still have some time. I did convert my other Registered to DI. Hopefully it will show up online soon.
No not really in any way that I can think of. It doesn't get much easier than buying a couple ETFs through questrade, whom offers free ETF purchases. The only thing you need to do is keep them balanced based on your chosen strategy (once in a while). I have my kid's RESP through questrade using a very simple ETF portfolio outlined at http://canadiancouchpotato.com/wp-conte ... s-2016.pdf and it's not very much to maintain at all.
Sr. Member
User avatar
Jun 27, 2007
565 posts
96 upvotes
Toronto
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.
Hi jfall,

Thanks for the recommendation!
Deal Addict
User avatar
Oct 14, 2001
1461 posts
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GMA
comp_freak wrote:
Jul 6th, 2017 8:40 pm
Isn't ETF require more work compare to E-Series? I haven't open RESP yet. I still have some time. I did convert my other Registered to DI. Hopefully it will show up online soon.
Not really. If you choose swap-based ETF's or other ETF's with DRIP, it's really easy. Just make sure to keep the asset allocation simple.
Deal Addict
Jul 23, 2007
3270 posts
1130 upvotes
comp_freak wrote:
Jul 7th, 2017 6:56 pm
Links takes me to their credit cards page.
Don't know what happened there, but try again.

You're right. As soon as I post the link, for some reason the original page reverts to a credit card TD advert.

Below is a copy and paste from that TD Canada Trust webpage.

--------------------------------------------------------------------------------------

Establish an RESP Account

The process for establishing a TD e-SeriesFunds RESP account requires you to first open a TD Mutual Funds RESP account and then have it converted.

If you already have a TD Mutual Funds RESP account, you can convert it and retain your existing account number.
Proceed to TD e-SeriesFunds Account Conversion form

If you do not have an existing TD Mutual Funds RESP account, you must open one first, then apply to have it converted. Please visit any TD Canada Trust branch to open an account.
As soon as your conversion form has been processed, you will receive confirmation via email. It will include detailed information on how to access your account using TD Canada Trust's EasyWeb Internet banking service.
Deal Fanatic
User avatar
Apr 29, 2008
5817 posts
1589 upvotes
Montreal
IF you already have a DI account with TD (RRSP, TFSA or another), consider open another DI account for RESP.

There are a number of ways to have the $25 quarterly fee waived, which include maintaining household accounts totaling $15,000 or more or ƒone or more of the accounts in your household accounts^ are enrolled in a Systematic Investment Plan (SIP) or Preauthorized Deposit or Preauthorized Contribution that totals $100/month or more.
(https://www.td.com/ca/document/PDF/forms/521778.pdf)

It does not make sense to pay $100 annual fees ($25 X 4), but there are many ways to waive such fee...

I would not bother with TD mutual funds account, which is less flexible than TD DI account.
Sr. Member
Jan 8, 2006
961 posts
228 upvotes
Thanh wrote:
Sep 14th, 2017 12:24 am
And what's preventing you from opening 2 distinct RESP's ?
Can one open two family plan for two kids? I was under impression that you can only have one family plan or multiple individual plans.
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Oct 14, 2001
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comp_freak wrote:
Sep 14th, 2017 8:58 am
Can one open two family plan for two kids? I was under impression that you can only have one family plan or multiple individual plans.
Yes you can.
Sr. Member
Jan 8, 2006
961 posts
228 upvotes
Thanh wrote:
Sep 14th, 2017 3:03 pm
Yes you can.
Okay thanks. I am reading Saving for Schools by Gail Vaz-Oxlade and she suggest for first child open individual; as individual can be converted to family later on but not vice versa. So I got impression one can only open one.

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