# TD E-Series Fees?



## OBA_1207 (Feb 9, 2015)

Hello,

I'm interested in the TD e-series to start building a long term savings fund. I don't really have an initial lump sum to deposit other than $100-$200, but want to contribute small amounts monthly (probably $50). I mostly just want to get the ball rolling. I'm having some trouble sorting through mixed-messages reading posts online, and calling TD hasn't been helpful. Most of my confusion is around which type of account to set up initially and the fees associated.

I keep hearing that for amounts under $15k, there is a $100 yearly fee. I've also heard that this is ONLY for a TD Direct Investment account though, and that if I open a Tax-Free TD Mutual Fund Account and convert it, I will not have to pay this fee even if my balance is quite low at the beginning. Can anyone confirm whether this is true, or if the fee applies either way? The only intended purpose for this account is to hold the e-series funds.

Thanks for your advice, everyone.


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## heyjude (May 16, 2009)

Just open an account at TD Direct (TD Waterhouse). You can then invest online in TD eseries funds. The below link shows the MERs of these funds compared with the equivalent (investor series) funds at TD Canada Trust. 

Once you are set up with TD Waterhouse, you can open a TFSA, an RRSP, a Canadian Margin, a US Margin account, etc. You can then buy and sell TD eseries funds with no commission. There is no annal fee. You can trade individual equities at $9.99 per transaction. You will be doing this yourself online through TD Webbroker. 

https://www.tdcanadatrust.com/products-services/investing/mutual-funds/mer-diff.jsp


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## OBA_1207 (Feb 9, 2015)

So you are saying to open a TD Direct Investment account online? Isn't this the one where there are fees of $25 quarterly?


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## OBA_1207 (Feb 9, 2015)

Are you suggesting I open the Direct Investing TFSA linked here? 

https://apply.td.com/waw/oso/index.jsp?osoProductID=BRE-105&channel=Infosite


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## eastcoast097 (Jan 18, 2017)

TD Direct Investing (Waterhouse) has the annual fee 100$ (split quarterly) for accounts under 15k.

TD Canada Trust is the one you want to open for TD Eseries. Once you have 15k you can transfer the accounts to TDI if you want.


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## OBA_1207 (Feb 9, 2015)

Thanks for clarifying, eastcoast097. So a regular TD TFSA is what I want to open and then I guess I convert it to an e-series account? Can I do this online? I'm having trouble figuring out which account exactly I am looking for to avoid fees...


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## eastcoast097 (Jan 18, 2017)

My experience was basically this:

1) Go into branch, open TD mutual fund account (TFSA or RRSP)
2) Listen to sales speech for high MER funds
3) Fill out paperwork to convert account to eseries
4) Wait 1-2 weeks for account to be converted

That was pretty much it.


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## heyjude (May 16, 2009)

OBA_1207 said:


> So you are saying to open a TD Direct Investment account online? Isn't this the one where there are fees of $25 quarterly?


Yes, it does appear from the fee schedule below that there is a maintenance fee of $25 quarterly if you have less than $15K in total assets with them. I have never had to pay that fee as I began (in 1990) with an initial investment large enough to avoid it. 

https://www.td.com/ca/document/PDF/forms/521778.pdf


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## OnlyMyOpinion (Sep 1, 2013)

How do I open a TD eSeries account? http://www.tdcanadatrust.com/products-services/investing/mutual-funds/help-acct.jsp

A link to info similar to eastcost's description (not sure how current all the info in the link is), The comments are also helpful: http://youngandthrifty.ca/how-to-apply-for-a-td-e-series-fund/


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## OBA_1207 (Feb 9, 2015)

Ok. So this all makes a lot of sense to me. It's still the lack of clarity around fees that I don't quite understand. If only TD themselves could give clearer insight....


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## Spudd (Oct 11, 2011)

There are no fees for the TD Mutual Fund account, there are only fees if you go to TDDI.


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## SN1 (Nov 27, 2015)

TD Direct Investing Maintenance Fees

Household accounts with total assets of less than $15,000. $25/quarter*

The fee will be waived if any one of the following conditions is met:

The first account in your household accounts has been open for less than six months.
One or more of the accounts in your household accounts are enrolled in a Systematic Investment Plan (SIP) or Preauthorized Deposit or Preauthorized Contribution that totals $100/month or more.
Your household accounts completed three or more trades in the preceding quarter which incurred a commission**
Your household accounts include a Registered Disability Savings Plan (RDSP)

* The Maintenance Fee will be assessed at the end of each calendar quarter.
** A commission paid trade is defined as a filled equity, exchange traded fund, or option order for which a commission has been charged.


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## OBA_1207 (Feb 9, 2015)

Perfect. So, I need to go to a branch and open a TD Mutual Fund TFSA (making sure not to do a TDDI account) and then I can convert it to an e-series account and there will be no annual fees regardless of balance. Got it. Thanks so much, everyone!

O


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## GreenAvenue (Dec 28, 2011)

SN1 said:


> TD Direct Investing Maintenance Fees
> 
> Household accounts with total assets of less than $15,000. $25/quarter*
> 
> ...



.. unfortunately I have to call in every time to get my $25 back. We have an RDSP but they charge the $25 anyway... Other than that I'm pretty happy with TD.


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## Eaglyeye (Mar 21, 2017)

heyjude said:


> Yes, it does appear from the fee schedule below that there is a maintenance fee of $25 quarterly if you have less than $15K in total assets with them. I have never had to pay that fee as I began (in 1990) with an initial investment large enough to avoid it.
> 
> https://www.td.com/ca/document/PDF/forms/521778.pdf


I was told by TD that the minimum required is 25k for the TDDI or minimum of 15 something transactions or else 25$ is what they charge per quarter.


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## Thal81 (Sep 5, 2017)

If you have just a TFSA Investment account as part of your regular TD bank account (the one you log in through EasyWeb with your debit card number), then there's no fee for that investment account, other than the MER of the funds you'll buy in it. It's just another account that shows up like chequing, savings, credit card, etc.

I'd stay away from TD Direct Investing if you're just starting out. It's much more practical to have your TFSA account in the same place as your bank chequing account. If you don't have a bank account with TD already, they'll make you open one to associate with your TFSA for the purpose transfering money. It will also make things simpler if you want to set up pre-authorized monthly contributions. The user interface when buying/switching funds is kinda bad though, like they have not upgraded since the 90s and everything is so retro and not intuitive. Also the e-series funds are mixed with every other funds they have, so you have to be careful. But you'll get the hang of it I'm sure.


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## happy_guy (Mar 26, 2016)

eastcoast097 said:


> .... Listen to sales speech for high MER funds ....


hahahahah


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## Joe Black (Aug 3, 2015)

I just have a TD Savings account and from there I buy E-Series, and I have less than $10K in it. It came about because I had a few thousand worth of GIC RRSPs with TD that I just kept rolling over, but once interest rates got really low I decided to buy E-Series instead of renewing into GICs again. I had a meeting with a rep at TD, went through the obligatory questionnaire thing to find out "what type of investor I am" (hint - choose the answers that makes you out to be the most hard core risk taking gambler possible so you are free to choose what you want, otherwise they may try to stop you because what you choose doesn't fit your "risk profile"). After that, I had to do some sort of online form to fill in to give me access to buying E-Series. Also, he had to initially transfer my RRSP savings to the generic "money market" mutual fund, which I then transferred to the E-Series I wanted to buy - I don't remember why, I think it was just the way for me to get "in" to be a mutual fund buyer. But after that, I could buy more funds by depositing into my savings account and purchasing from there.


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