Personal Finance

InvestorLine Fee Question

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  • Feb 27th, 2010 11:26 am
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[OP]
Member
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Nov 25, 2007
210 posts
24 upvotes
Scranton, PA

InvestorLine Fee Question

Hi,

I recently opened a BMO InvestorLine account and completed the transfer of all my BMO Mutual Funds. I've held these funds within BMO for a couple of years. Today, I proceeded to sell a portion of a fund then noticed a commission charge of $35 (appears to be early redemption charge). Anybody know that transferring BMO funds "In Kind" from BMO to BMO InvestorLine resets the redemption period?

P.S. These funds are no load.

Thanks
1 reply
Deal Fanatic
Jul 1, 2007
8410 posts
1441 upvotes
It shouldn't, but I have had this happen (as an error) with TD Waterhouse: the "age" of the funds didn't transfer along with all the other info. I'd give them a call.

What could have also happened is that you have a monthly purchase plan going to one of the funds and by redeeming the units purchased in the last 30 days you incurred this flat fee.

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