Opened an e-Series today….
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Thread: Opened an e-Series today….

  1. #1
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    Opened an e-Series today….

    Boy was that info accurate from various forums, including this one - the TD banks reps don't know much (or anything!) about the e-Series. I took the advice I got from various threads about contacting TD Waterhouse first and opening an account with them instead of opening up an account to trade with TD (where I think you have to convert to a Waterhouse account before you're able to purchase an e-Series mutual fund)

    Anyhow, it's supposed to take about 5 days before I can actually start buying and trading with TDW. I opened an RSP and a TFSA with TDW account because my intention is to place the initial purchases of the e-Series funds within my RSP and then max out my $5500 TFSA for 2014 through monthly instalments. So the e-Series funds will be "topped up" within the TFSA. I wasn't sure if I could do this, but the TDW rep said it can be done. The bank guy (probably a 21 year old university kid!) didn't have a clue! He called them and they said it can be done, but I'm not sure if he/they understood what my intention is. So can this be done? Has anyone else here purchased similar investments and placed them within both an RSP and TFSA? If it can't be done, I will just used the RSP and buy more funds unregistered…

    Thanks…

    Cheers


  2. #2
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    There is a reason they are called e-series ,they have to be bought online not at the branch and through TD Waterhouse.For that reason I am not surprises Branch employees know nothing about them except maybe pull up a webpage and read it with you.We hold both in TFSA and RRSP and it is easy to transfer funds once the account is open.We DCA our e-series and invest monthly in the RSP .

  3. #3
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    Absolutely you can use e-series funds in TFSA, and RRSP.

    Good of you to open up a self-directed account or accounts. This way, as your portfolio matures, you can own low-cost ETFs than e-series but you're on your way

    I don't own e-series myself but I know folks who do. Yes, some investors have placed then in their RRSP and TFSA.
    Hidden Content - Saving and investing my way to a million dollar portfolio.

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  5. #4
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    Great.. thanks folks! I'm looking forward to getting it going…

    Cheers!

  6. #5
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    Quote Originally Posted by My Own Advisor View Post
    Absolutely you can use e-series funds in TFSA, and RRSP.

    Good of you to open up a self-directed account or accounts. This way, as your portfolio matures, you can own low-cost ETFs than e-series but you're on your way

    I don't own e-series myself but I know folks who do. Yes, some investors have placed then in their RRSP and TFSA.
    Yes, ETFs are on the "radar" - but I think you're supposed to wait until yout get up to at least $50K no? That'll take a few years, I'm sure.

    Can you buy ETFs with a TDW account, like i-Shares or Vanguard?
    Last edited by Siwash; 2014-02-01 at 10:29 PM.

  7. #6
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    Yes, you can pretty much do anything with your account, including buying ETFs, now that you're set up.

    Helped someone set up a TD account not too long ago. It's sort of a pain in the butt. Had to call them first to change the commission rate to $9.99 even though my friend had over 100k sitting I'm his account for a week. Had to also call to link the accounts properly because he couldn't see his TFSA and RRSP account after he logged in. Had to also call to set up DRIP.

  8. #7
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    Quote Originally Posted by leeder View Post
    Yes, you can pretty much do anything with your account, including buying ETFs, now that you're set up.

    Helped someone set up a TD account not too long ago. It's sort of a pain in the butt. Had to call them first to change the commission rate to $9.99 even though my friend had over 100k sitting I'm his account for a week. Had to also call to link the accounts properly because he couldn't see his TFSA and RRSP account after he logged in. Had to also call to set up DRIP.
    I don't know why TD doesn't streamline this and make it seamless… I almost went with ING Streetwise because of its simplicity.. you can do everything online… I realize TD makes more money with it's other products (higher MERs too…) but they'd probably get more business if they improved what they have.

    Still, the funds are the cheapest for indexing.

    I will update here once I get it running and let you know how I make out.

  9. #8
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    ^ for what it's worth, I had no problems setting up my TDW account. For the most part everything can be done online.

    Yes, after 50K ETF's start to become more cost effective. However, even after you decide to switch over to ETF's you can continue to utilize the e-series funds in order to accumulate additional money. Once you have 5-10K accumulated you can add to your ETF positions. If you trade too frequently with ETF's you'll end up with higher fees - even after 50K. You can also accumulate your money within TDB8150 (1.25% HISA), as an alternative.

  10. #9
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    Quote Originally Posted by Synergy View Post
    ^ for what it's worth, I had no problems setting up my TDW account. For the most part everything can be done online.

    Yes, after 50K ETF's start to become more cost effective. However, even after you decide to switch over to ETF's you can continue to utilize the e-series funds in order to accumulate additional money. Once you have 5-10K accumulated you can add to your ETF positions. If you trade too frequently with ETF's you'll end up with higher fees - even after 50K. You can also accumulate your money within TDB8150 (1.25% HISA), as an alternative.
    I'm using the Peoples Trust HISA at 1.8%.

  11. #10
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    Quote Originally Posted by Siwash View Post
    I'm using the Peoples Trust HISA at 1.8%.
    That's a good option. Personally I like TDB8150 as I don't have to wait for a transfer to occur in order to make a purchase. You can purchase a stock or ETF and then immediately sell TDB8150 to cover the costs. Quick and easy. If you don't trade much then getting an extra .55 of a percent is worth having to wait a few days for the transfers.


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