This is a part of the Investing Series.
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UPDATE: The TD e-series has been discontinued as of 2023.
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)
P.S. You may be interested in learning how to rebalance a portfolio, the difference between a mutual fund and an ETF and whether you should do TD E-Series, or trade ETFs!