# Retirement Savings at Risk?



## 411guy (Jul 27, 2009)

I will be retiring in the near future. Not being part of a defined benefit pension program, I have all my retirement savings invested in various ETFs within RRSPs.

I started out with a number of iShares and a number of Claymore ETFs, once independent of one another. Now both are owned by Blackrock.

Should I be concerned about having all my financial instruments owned by one institution? Should I be thinking of moving some of my savings to BMO, RBC, Vanguard ETFs? 

If Blackrock goes under (who would have thought Lehmann Brothers would go under in 2008?), what happens to their ETFs? Are RRSPs protected?

Any words of wisdom would be appreciated. Thanks in advance.


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## GoldStone (Mar 6, 2011)

iShares ETF assets are held by the ETF custodian, State Street Trust Company Canada. ETF assets are separate from the funds of the management company (Blackrock). If Blackrock goes down, ETF assets are not at risk.

http://ca.ishares.com/content/en_ca/repository/resource/structure_matters_en.pdf


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## 411guy (Jul 27, 2009)

Thanks for the info, GoldStone. 

Does anyone know what happens to RRSP accounts if the online discount broker, for example, who houses these accounts go bankrupt? Are they fully protected, are they subject to CIDC insurance limits, or are they not protected at all?

Thanks in advance.


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