# My experience opening a TD Waterhouse account



## recklessrick (Jun 16, 2013)

It seems to me that there can't be too many of these threads on how to open a TD Waterhouse account. I'd also like to give back a little back to the forum instead of just ask questions 

I'll update this as my application progresses.

1) June 21 2013 - I applied online at the TD Waterhouse site for a direct investing account. I requested a registered RSP and spousal RSP account. The form was very easy, not too long, they asked a lot of verification questions (not a bad thing IMO). All the wording was very clear and easy to understand, not daunting at all. After the application had been submitted, they give you more info on how to fund your account and how to transfer other assets into it. They provide links to the forms to do that or let you initiate the paperwork for transfers online. After that you can download any other subsequent forms. I downloaded the power of attorney and third-party trading authorization form. You can also download your completed application for your records. This part of the process was extremely good. It appears that if you are opening a spousal account, you cannot open the tax-free savings account at the same time. That will just have to be a separate application after my account is open, not a big deal to me.

2) June 24 2013 - Got my welcome email. Says I should have my physical welcome package in 5 business days. It's Monday today, I imagine it'll be next week.

3) July 3 - Got the paperwork, filled it out, sent it back. Nothing yet... I should get my web broker login soon. I may have to call and see what's up.

4) Aug 5 - Got the web broker login and everything is good. Sent away the transfer paperwork for my RRSP to get moved over in cash. Just waiting on that to show up. Also tried a transfer from my PC account to my TD Waterhouse account. The 1 cent transaction went through.

5) Aug 28 - After fixing a mistake I made on the transfer application, that's now going along and I'm waiting for those funds. I did my first round of trades through TD. Sent money from the bank account, took about 2 days. Placed 4 buy orders based on $ amounts. Orders were filled the next business day and my webbroker account reflected my new investments the next business day after they were filled.

I have to say, it's not a bad process. Took a little while but I found a TD Waterhouse investment adviser near my place of work. I set up an appointment with her to fill out the paperwork for the RESP account I want. I'll be using her for my transfer paperwork and subsequent accounts from now on, that should shave off quite a bit of time.

Seems like a good process now as of mid-2013. Far better than the stuff I was reading about from a few years ago.

So far, so good.


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## kcowan (Jul 1, 2010)

When I took over MILs investment account (it was at Scotia but run by an advisor), I took her into a large TD branch and we sat down with an investment specialist. Canada and US trading accounts and RRSP and transfers and trading authorization. All completed in one branch visit. It helped that her banking was already at TD. We also opened a high interest savings account (because TDW offered so little for cash balances).

(DW was entered jointly on all the accounts as well.)


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## recklessrick (Jun 16, 2013)

kcowan said:


> All completed in one branch visit. It helped that her banking was already at TD. We also opened a high interest savings account (because TDW offered so little for cash balances).


That's great to hear. I did a ton of digging around and found that TDW seems to be getting better to deal with when you want a DI account. I may do the same for my mother as well. She is currently with an advisor and paying too much and getting too little. It's her retirement so she needs every little bit. It's unreal how much that MER makes a difference.


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## recklessrick (Jun 16, 2013)

Updated with welcome email package in step 2


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## Noam (Jul 3, 2013)

recklessrick said:


> 1) June 21 2013 - I applied online at the TD Waterhouse site for a direct investing account. I requested a registered RSP and spousal RSP account. The form was very easy, not too long, they asked a lot of verification questions (not a bad thing IMO).


What is the URL to this form? 

Thanks, 
Noam


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## none (Jan 15, 2013)

My experience with TD waterhouse is generally great. TD bank though, my god what a nightmare. They have some seriously incompetent people on the ground.

I will never have a mortgage or bank with TD bank. If it wasn't for the e-series I would stay away for sure.


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## Jon_Snow (May 20, 2009)

I'm getting all nostalgic and misty eyed thinking back to when I opened up my TDW account... ten years ago I believe it was... I had abs then. :tongue-new:


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## avrex (Nov 14, 2010)

Damn, I must be old. 
I remember opening up my TD brokerage account in the mid-late 1990s. It was called TD Greenline back then.



Noam said:


> What is the URL to this form?


I think you are looking for this: Self-Directed RSP


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## recklessrick (Jun 16, 2013)

Almost forgot about this thread! Updated.


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## recklessrick (Jun 16, 2013)

Did the final update. I'm up and running! Was a pretty good process, could save a lot of waiting time by going to an investment specialist at a TD branch.


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