[chilly]

In this (and other) thread I've read that TD offers to waive administration fees on the TFSA account if you sign up for eServices.

http://canadianmoneyforum.com/showthread.php?t=953

I'm a bit curious about this because I can't seem to find this described anywhere on the TD website. I was looking at the fee schedule here: http://www.tdwaterhouse.ca/trading/ascs.jsp#reg

Does the same apply to TD RRSP accounts? In other words, if I open a TD Waterhouse self-directed RRSP account and sign up for eServices, will the administration fee be waived?

And one last question: Are the TD eSeries funds available for purchase from self-directed RRSP accounts at TD? Or does the account have to be a TD Mutual Funds account?

Thanks for your help!

 

[HaroldCrump]

I have a TD RRSP eSeries only account and there are no fees.
I can buy any eSeries or other regular mutual funds in that account.
But it's a TD account and not a TD Waterhouse account so I can't trade non TD securities, stocks, bonds etc.

 

[CanadianCapitalist]

In this (and other) thread I've read that TD offers to waive administration fees on the TFSA account if you sign up for eServices.

http://canadianmoneyforum.com/showthread.php?t=953

I'm a bit curious about this because I can't seem to find this described anywhere on the TD website. I was looking at the fee schedule here: http://www.tdwaterhouse.ca/trading/ascs.jsp#reg

Does the same apply to TD RRSP accounts? In other words, if I open a TD Waterhouse self-directed RRSP account and sign up for eServices, will the administration fee be waived?

And one last question: Are the TD eSeries funds available for purchase from self-directed RRSP accounts at TD? Or does the account have to be a TD Mutual Funds account?

Thanks for your help!

Yes, if you sign up for eServices, your TFSA admin fee will be waived. See this page:

http://www.tdwaterhouse.ca/apply/forms/521778.pdf

The waiver is not applicable to TD Waterhouse RRSP accounts.

e-Series funds are available at TD Waterhouse.

 

[stardancer]

My TD Waterhouse TFSA has fees waived as long as I am signed up for e-services (paperless).

My TD Waterhouse RSP used to have fees waived as long as the balance was over $25,000 (I think). However, they have just changed this to a $50/annual fee with no waivers, beginning March 2010. So I have to make sure there is $50 in the cash account for March.

I also have some non-registered mutual funds at TD at the branch level. Haven't received any correspondence about fees being charged, at least so far.

 

[Cal]

What?

As of March 2010, any RRSP self directed account will have a non waivable annual fee of $50.

Am I understanding this correctly?

As if they don't already make enough money off of us.

 

[MoneyGal]

I have a SDRRSP with TDW. I just received a pamphlet with an announcement of new fees, but (if I read the pamphlet correctly) I understood that the fee waiver continued for accounts over $25K.

Did you receive any separate notification of this change? Or was it just the same pamphlet?

 

[stardancer]

I have a SDRRSP with TDW. I just received a pamphlet with an announcement of new fees, but (if I read the pamphlet correctly) I understood that the fee waiver continued for accounts over $25K.

Did you receive any separate notification of this change? Or was it just the same pamphlet?

My husband and I just received letters dated 30 Dec 2009 from TD Waterhouse, but our financial planner warned us this was coming.

"...the annual administration fee for registered accounts will be reduced from $100 to $50, starting March 15, 2010...any current fee waivers, on the basis of household or individual assets held in the accounts will no longer apply"

The type of registered accounts include: self-directed RSPs, self-directed RIFs, locked-in retirement savings plans, locked-in retirement accounts, locked-in retirement income fund, life income fund and prescribed retirement income fund.

 

[Potato]

Ouch, and I was just about to start an RRSP account, too.

 

[MoneyGal]

I don't have the letter, but will call TDW to confirm.

Who will bribe me to switch? (Not "which forum member," but what brokerage?)

 

[FrugalTrader]

Ouch... will the new $50 fee apply to TD e-series/mutual funds account?

 

[Y&T2010]

Ouch... will the new $50 fee apply to TD e-series/mutual funds account?

Uh oh.. I hope not! =(

 

[archanfel]

I also got a letter from my financial planner and I sent an email to TD. They said for the self-directed RRSP account, they are still going to waive the fee if your balance is above $25,000. Same as before. At least for now.

 

[CanadianCapitalist]

I also got a letter from my financial planner and I sent an email to TD. They said for the self-directed RRSP account, they are still going to waive the fee if your balance is above $25,000. Same as before. At least for now.

I'm with TD Waterhouse now and that's my understanding as well. Chill out everyone. TD Waterhouse is *not* the same as TD Asset Management which also offers RRSP accounts.

 

[MoneyGal]

OK CC, but at least one poster earlier suggested this was coming from TDW. (I know the difference!)

I re-read my pamphlet and it is very clear that the fee waiver for my SDRRSP will continue.

 

[CanadianCapitalist]

OK CC, but at least one poster earlier suggested this was coming from TDW. (I know the difference!)

I re-read my pamphlet and it is very clear that the fee waiver for my SDRRSP will continue.

My comment on the difference wasn't addressed at you but at another post on whether the fees are applicable to TD Mutual Funds accounts.

I concur that fee waivers for SDRRSP at TD Waterhouse are applicable as of today. Unless we hear otherwise from TDW, I'll assume that fees will be waived.

As an aside, I don't see how TDW can get away with imposing a SDRSP fee given the level of competition that exists in the discount brokerage space today.

 

[cynicalinvestor]

I got 'scared' too, after I read about the fee in 'Globe and Mail' '(about to transfer my non-RRSP to TD, but why not do it the other way round if they are going to charge a fee).

So even if I downloaded the TDW schedule and no fee, the same as before, I called TDW at 7:30 am (Saturday !!!) and the CSR did not know anything about the fee at that moment (of course he said that fees can change, so even if now there is none in 2 months time they could update the schedule, not very assuring, but what can you do ?)
Panicked for nothing, should have looked it up on Internet before, best explained here :

To clarify the fee structure across all of TD Waterhouse (to the best of my knowledge):

Discount Brokerage
$100 per registered plan, waived with a balance of $25K or more

Financial Planning
$50 per registered plan, no fee waiver (used to be $100, waived at $25K account balance or $100K household)

Private Investment Advice
$125 per registered plan, never was a fee waiver

However, the transfer I am planning makes me 'nervous' not that the fees are the cause I've lost so much money

 

[Rickson9]

Basic SDRSP

The TD Waterhouse Discount Brokerage Basic RSP* is a low-cost, self-directed plan designed to meet the needs of investors who want to hold some of the most popular registered plan investments. They include load and no-load mutual funds, GICs, money market instruments, Canada and Provincial savings bonds, corporate and government issued bonds, strip bonds, mortgage-backed securities and cash. However, you cannot hold equities, options or mortgages in the Basic RSP.

Your Basic RSP plan is administered by TD Waterhouse Canada Inc., which charges an annual administration fee of only $25 + GST or HST.

With either our Self-Directed RSP or our Basic RSP, maintain a minimum balance of $25,000 in your account and don't pay an administration fee! Waiver not applicable to clients electing to pay administration fee from outside their registered account.

* Refers to the TD Waterhouse Self-Directed Retirement Savings Plan.

http://www.tdwaterhouse.ca/services/assd.jsp

 

[Cal]

Just trying to figure out how much I might lose to the bank to set up a SDRSP that would hold some US equities.

I am assuming that the bank TDWaterhouse would require a US $ acct within the SDRSP, then when you convert the CDN$ to US$ you would lose a % or so (true or false), then you buy your equities, hold them for whatever period of time, then when you retire, and either sell or start to draw from the dividend income, TD would again get a % or so when it is converted to CDN$ again (true or false).

Obviously as of right now I only hold CDN equities in my SDRSP acct.

Looking for more diversification, I just hate to lose a % on the front and back end to the bank. The TMX has lots of bank, energy, telcomm, but no solid health care stocks.

Thanks in advance.

 

[Mockingbird]

Just trying to figure out how much I might lose to the bank to set up a SDRSP that would hold some US equities.

I am assuming that the bank TDWaterhouse would require a US $ acct within the SDRSP, then when you convert the CDN$ to US$ you would lose a % or so (true or false), then you buy your equities, hold them for whatever period of time, then when you retire, and either sell or start to draw from the dividend income, TD would again get a % or so when it is converted to CDN$ again (true or false).

Obviously as of right now I only hold CDN equities in my SDRSP acct.

Looking for more diversification, I just hate to lose a % on the front and back end to the bank. The TMX has lots of bank, energy, telcomm, but no solid health care stocks.

Thanks in advance.

You do not require USD Account to trade US stocks.
Only required amount of CAD is converted to USD to purchase your stock.
When you sell the stock, your account will automatically convert the net proceed of USD into the CAD fund.
Yes, you will pay conversion fees every time you buy/sell US stocks.

If you want to save on the exchange fees, try "wash" trade method that Canadian Capitalist wrote about in 2007.
http://www.canadiancapitalist.com/how-to-wash-your-trade/

Questrade offers USD RSP Account for those conversion fee haters.

 

[Cal]

Yeah...I am having a hard time deciding.

I would rather own a half dozen US equities....but to potentially lose 1% on either end for the transaction...almost...makes me wanna just get a low MER US equity fund. Almost.