# Self directed rrsp fees



## Suzuki12 (Apr 22, 2012)

I have a defined benefit pension with my employer. It's high enough that I have no room for further rrsp contributions. I don't expect to have any contribution room until I retire. I have about $10,000 in this account which is in a self directed rrsp at tdw. I recently found out I will be charged $100/year fee since its under $25,000. We have other accounts with them totaling much over that amount. 
I'm looking for suggestions on how to invest this money without paying such a high fee. 

Thanks.


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## Homerhomer (Oct 18, 2010)

Are you allowed to put money at discount broker accounts like questrade that don't charge annual fees?


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## Spudd (Oct 11, 2011)

If you have any non-registered investments or TFSA you could move those to Waterhouse to get over the 25k limit. Otherwise I would suggest to transfer it out to a broker that doesn't charge a fee.


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## Suzuki12 (Apr 22, 2012)

I do have my wife's rrsp, tfsa, my tfsa and a non-registered account all with Waterhouse adding up to much more than $25,000. They still charged me $100 plus tax for my rrsp since it's under the threshold of $25,000.
I just hate paying fees when I can find a way not to.


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## Spudd (Oct 11, 2011)

Really? I would think you could call and ask for it to be refunded if you have a lot of assets with them.


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## My Own Advisor (Sep 24, 2012)

Suzuki12, if you have household assets over a certain threshold, TDW should be able to waive your admin. fees. Call them and ask them to do so.


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## Suzuki12 (Apr 22, 2012)

I did call and they removed the fees for one year only since I was unaware. I will be charged next year if I don't take the money out first.


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## bgc_fan (Apr 5, 2009)

Suzuki12 said:


> I did call and they removed the fees for one year only since I was unaware. I will be charged next year if I don't take the money out first.


If you want to stay with TDW and only invest in mutual funds, I believe that there is an option to have a mutual fund only RRSP account that does not charge any fees. I started with that, and when my portfolio crossed the threshold, I switched to the self-directed account.


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## mrPPincer (Nov 21, 2011)

I don't understand why TDW doesn't change that policy.
At some point presumably my rrif will go below 25K at which point I'll have to switch brokerages or move to a plain e-series mf account for that portion which I don't want to do because I hold US-based etfs in there.
Hopefully they'll have changed that by then.


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## james4beach (Nov 15, 2012)

TD Waterhouse has two different kinds of RRSP accounts.

"Basic RSP" has $25 fee
"Self-directed RSP" has $100 fee

If you want to stay with TDW, I suggest you switch to the Basic RSP. It still allows mutual funds and GICs. The universe of mutual funds out there is so huge -- including low cost index funds and of course TD eseries -- that I'm sure you can find some equivalent investment to whatever you hold currently. Saving $75 in fees a year is pretty substantial.

When my RRSP was below $25k they charged me that fee as well (despite having higher amounts in the other accounts). So I kept it in the Basic RSP with the $25 fee until it exceeded $25k, then I moved it to a Self-directed RSP.


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## Suzuki12 (Apr 22, 2012)

Thanks for the tip. I will do that.


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## mrPPincer (Nov 21, 2011)

Why even pay the $25 fee?
You can also buy the e-series through TD Investment Services, a different branch than TDW, and pay no fees at all.


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## My Own Advisor (Sep 24, 2012)

I did the same, had "basic" RRSP then moved assets to self-directed RRSP when the individual threshold was passed.


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## uptoolate (Oct 9, 2011)

I would go further up the chain of command. If you do have that much money with TD then they should waive the fees. Just raise a fuss! It is very unlikely that they will not wave the fee which I think everyone here thinks they should if you do that much business with them. There are other threads on here about fees at TD and success stories at getting them waived. Sometimes though it does take a call every year or even six months in some cases. Good luck.


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## Retired Peasant (Apr 22, 2013)

I just reviewed their fee schedule, and registered account admin fees are not waived based on household assets with them. It also says that it won't be waived if you elect to pay the fee from outside the registered account.
http://www.tdwaterhouse.ca/apply/forms/521778.pdf


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