Catching up on RESP

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investpro
Member since: Nov 06

Posts: 1628
Location: carl sagan's universe
Post ID: #PID

Posted on: 04-05-09 09:35:04

Hi New desi in Town,

You are correct.

Re self- directed account- TD might be charging a yearly fee to keep the accounts, not sure. Please do check it out.

To avoid these fees should there be one, best to direct your RESPs thru a financial advisor who does these RESPs all front end at no cost to you.

Unless of course you are contemplating GICs, even then a finacial advisor can help you get better rates than the bank.

If TD does not charge a fee- then TD mutual funds are dash good, their GIC rates are not the best.

NewDesiInTown
Member since: Dec 08

Posts: 36
Location: Toronto, ON
Post ID: #PID

Posted on: 04-05-09 11:25:29

Quote:
Originally posted by investpro
Re self- directed account- TD might be charging a yearly fee to keep the accounts, not sure. Please do check it out.

There's no fee for e accounts.

It's better than trailer fees to financial advisors which is a cost to the plan.

investpro
Member since: Nov 06

Posts: 1628
Location: carl sagan's universe
Post ID: #PID

Posted on: 05-05-09 09:28:51

TD funds will also have an MER to feed their people.

Anyway, its your call.

NewDesiInTown
Member since: Dec 08

Posts: 36
Location: Toronto, ON
Post ID: #PID

Posted on: 05-05-09 10:04:47

Quote:
Originally posted by investpro
TD funds will also have an MER to feed their people.

yes but it's like < 0.5% compared with >= 2% in other cases

thanks for everyone's help

Contributors: investpro(5) NewDesiInTown(4) Pramod Chopra(1) rsbagwell(1)

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