TD E-SERIES is a perfect account for someone who has small lump sum to invest, and wants to invest periodically. With the easy-to-manage feature and unbeatable low management expense rate, it's best place to set up your RESP or TSFA. Here are the simple steps:
- Go to branch in person to open up an RESP mutual fund account, make purchase to "money market fund'. If you do not have any account with TD, ask for 'access card', you will need the account number to access your online account.
- Designate where you want to hold your government grants.
- Go to TD website and print off 2 forms(Consent & application to convert), fill them out and mail them back to their fund administration office(address is written on the form). http://www.tdcanadatrust.com/mutualfunds/tdeseriesfunds/convert_acct.jsp
- You will receive an email in about 2 weeks stating the conversion is completed and ready online.
- Log in to your account and select 'switch mutual fund purchase', make sure you select the index funds with 'e' in the end, that's indication of e-series funds which has extremely low MER.
Extra tips
- must present your & your child's SIN card at the branch
- you can set up link between the other bank account to this account when filling out the form 'application to convert to a TD e-series funds account', and also set up "Pre-Authorized Purchase Plan"
- when doing the investment risk tolerance test, try to put yourself in a higher limit, that way in the future if you ever want to invest in a more aggressive fund, you will be able to do so without contact the bank again
- You must hold the money in 'e-series' for minimum of 90 days
- TD mutual fund help line is 1-866-234-8888 and option#4
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