In Investing, Money

Investing Series: How to sign up for TD Canada Trust E-Series Mutual Funds

This is a part of the Investing Series.

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This is the easiest, most hassle-free way I have found to sign up for TD Canada Trust E-Series Mutual Funds (the cheapest way you can invest in index mutual funds with a bank in Canada).

The list for TD Canada Trust Mutual Fund Cheaper E-Series (lower MERs, mostly index funds)

If you want to sign up for their cheap e-series TD Canada Trust Mutual Fund, I suggest you do the following for a no-hassle experience:

  • You do not need to be a TD Waterhouse customer to buy e-series mutual funds!!
  • Become a customer of TD Canada Trust (EasyWeb)
  • Get a FREE no-fee savings account with them (no minimum balance required)
  • Deposit money in there from your external bank account with a cheque & link the two accounts
  • Open a TD Mutual Funds account (RRSP, TFSA, or Non-Registered)
  • Ignore their pleas to buy their high MER, low return Mutual Funds
  • Put all your money into your no-fee savings account with them so you’re ready to buy…
  • ..or alternatively, you can also put that money into a Mutual Fund Bond Index or something you can sell easily without any additional fees (some funds, will charge you a 2% penalty fee if you sell within 30 days, e-series charges you a 2% penalty fee if you sell within 90 days)
  • Convert that TD Mutual Funds account into an e-series Mutual Funds account with this form
  • Note: Here’s a link that has all the TD Canada Trust forms in one shot
  • Print and bring in the form(s) you’ve filled out and signed to your local TD Canada Trust Customer Rep
  • Go to the Service Desk; you do NOT need an appointment with a Mutual Funds Advisor!
  • Ask them to forward (internally) those forms to the address listed in the upper right-hand corner
  • Repeat that it really is all they have to do, and nothing more than forward those forms
  • You will need to fill out ONE form per Mutual Fund Account
  • You can use the above form for all Mutual Funds (I did it for RRSPs and Non-Registered)
  • Wait for the confirmation e-mail that welcomes you to the world of TD Mutual Funds E-Series

Enjoy.

The list for TD Canada Trust Mutual Fund Cheaper E-Series (lower MERs, mostly index funds)

… BUT I STILL RECOMMEND GOING WITH QUESTRADE & BUYING VANGUARD ETFS

I still recommend that people who want to save more money because management expense ratios (MERs) take a chunk out of your portfolio over the long-term, go with Questrade and buy Vanguard Canada ETFs.

  • Use Questrade code: o0soehds and get $50 in free trades

 

This is what I have personally done with my portfolio.


Only ONE account has stayed with TD Canada Trust because I can’t really move it (it’s a locked-in RRSP account).

 

But even so, TD Canada Trust E-Series is not a bad alternative if you are less sure of yourself as an investor and/or lazy and don’t want to deal with Questrade and having to learn how to buy and sell ETFs.

OTHER POSSIBLY HELPFUL READING:


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Sherry of Save. Spend. Splurge.

I got out of $60,000 of debt in 18 months using TheBudgetingTool.com. Since then, I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K (savings rate = 85%). I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I also post daily on Instagram @saverspender.

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