Author Topic: TD e Series account - Canada  (Read 507 times)

Edge of Reason

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TD e Series account - Canada
« on: November 24, 2018, 07:26:09 AM »
Anyone have one of these?
Are they easy to open? How did you do it?
Are they a good option for someone who wants to manage their money themselves and set up a Canadian Couch Potato portfolio?
Any advice welcome.

Freedomin5

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Re: TD e Series account - Canada
« Reply #1 on: November 24, 2018, 08:13:13 AM »
Thereís no such thing as a TD eSeries account. ESeries are mutual funds (not an account) that you buy through the TD online brokerage (Direct Investing) account, which is called WebBroker.

Itís easy to set up a WebBroker account. Just go to your nearest TD investment branch, or if you donít know where that is, go to your nearest TD bank branch and Iím sure theyíll be able to walk you through the process. We made an appointment by emailing our banker (since we also have a mortgage through TD), and they helped us set up an appointment with the TD investment person. Once we arrived for the appointment,  we had ours set up within an hour.

Once you have your WebBroker account, you can log in and transfer money into the account from your TD bank account, and then once the money arrives in your WebBroker account you can go ahead and purchase whatever eSeries fund you want, or any other stock or ETF. It usually takes about a day for the funds to get transferred.

We follow the Canadian couch potato model using TD funds because all our other banking is with TD, so it just makes everything easier for us. Also, we only buy a couple times per year, so the $9.99 fee is not such a major cost for us. I know there are others on the forum that use Questrade or other online brokerages that do not have trading fees but Iím not sure if you can purchase TD eSeries funds through those online brokerages. If you decide to go with Questrade, do a search on the forums first because i think some folks have a referral code you can use to get a discount or get free money or something like that.
« Last Edit: November 24, 2018, 08:23:51 AM by Freedomin5 »

Edge of Reason

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Re: TD e Series account - Canada
« Reply #2 on: November 24, 2018, 08:24:01 AM »
Thereís no such thing as a TD eSeries account. ESeries are mutual funds (not an account) that you buy through the TD online brokerage account, which is called WebBroker.

Itís easy to set up a WebBroker account. Just go to your nearest TD investment branch, or if you donít know where that is, go to your nearest TD bank branch and Iím sure theyíll be able to walk you through the process. We made an appointment by emailing our banker (since we also have a mortgage through TD), and they helped us set up an appointment with the TD investment person. Once we arrived for the appointment,  we had ours set up within an hour.

Once you have your WebBroker account, you can log in and transfer money into the account from your TD bank account, and then once the money arrives in your WebBroker account you can go ahead and purchase whatever eSeries fund you want, or any other stock or ETF. It usually takes about a day for the funds to get transferred.

We follow the Canadian couch potato model using TD funds because all our other banking is with TD, so it just makes everything easier for us. Also, we only buy a couple times per year, so the $9.99 fee is not such a major cost for us. I know there are others on the forum that use Questrade or other online brokerages that do not have trading fees but Iím not sure if you can purchase TD eSeries funds through those online brokerages. If you decide to go with Questrade, do a search on the forums first because i think some folks have a referral code you can use to get a discount or get free money or something like that.

Thanks for the quick info! We actually already have a WebBroker account holding some F and I series funds, just didn't know we could purchase these on our own and add to the mix.

Thanks also for the heads up about the 9.99 fee info. We initially thought dollar cost averaging to build up these funds but now we will consider more of a lump sum approach to build our own Couch Potato portfolio.

Lews Therin

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Re: TD e Series account - Canada
« Reply #3 on: November 24, 2018, 09:21:20 AM »
Why do you want to use TD E Series, instead of using a broker like Questrade, Qtrade, Interactive broker?

You'd go from .33%MER (TD E Series) to .07 (discount brokers)

joonifloofeefloo

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Re: TD e Series account - Canada
« Reply #4 on: November 24, 2018, 09:59:35 AM »
At TD Direct Investing, you can also purchase the lower-fee funds offered by Vanguard, etc. That's what I do.

There's a place for some of the other TD or TD-DI options, but a standard investment account is not one of them.

TD-DI and RBC-DI each have advantages for some Canadians over Questrade, etc, so depending on your profile, it can be very wise to include one or both of these brokerages in your overall financial schtick.

Last I saw, there was also an option to set up a TD-DI webbroker account via phone appt. TD-DI had specifically set up a stream for this, so that we weren't having to "make an appt to make an appt and travel into a branch" just for this.

GreatLaker

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Re: TD e Series account - Canada
« Reply #5 on: December 11, 2018, 11:26:36 AM »
Thereís no such thing as a TD eSeries account. ESeries are mutual funds (not an account) that you buy through the TD online brokerage (Direct Investing) account, which is called WebBroker.

Bit of an old thread but I thought it worth clarifying in case anyone else is searching for how to buy eSeries funds.

There are two ways to buy e-Series mutual funds.

1) TD Canada Trust offers e-Series accounts, that are accessed online through TD's EasyWeb online banking website.
https://www.td.com/ca/en/personal-banking/products/saving-investing/mutual-funds/td-eseries-funds/
Quote
You can purchase e‑Series of TD Mutual Funds through an e‑Series Funds account, accessible online through EasyWeb Online banking.

2) TD Direct Investing offers e-Series mutual funds through its WebBroker online interface.

TD's $9.99 trade commission applies to stocks and ETFs purchased through WebBroker. There is no transaction fee for buying eSeries funds through EasyWeb or WebBroker.

A TD Canada Trust e-Series account makes sense for an investor that never intends to purchase any stocks or ETFs, otherwise TD Direct Investing is a more versatile account. No other financial institutions can sell eSeries.