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)
  • You need to convert that TD Mutual funds account into a TD Mutual funds E-Series Account
  • 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.

Millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. Since then, I have paid my $600K home in cash (my half was $300K), my $180K casr in cash, worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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