Author Topic: Out of her cold, heartless hands.  (Read 2546 times)

Le Poisson

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Out of her cold, heartless hands.
« on: April 22, 2015, 08:34:40 AM »
So we have decided to move our RESPs, and RRSPs out of IG and into RBC self-directed in order to get our MERs in line with reality.

But we are having some trouble with actually closing the accounts at IG.

It seems that our advisor (who was our VERY BEST FRIEND!!!) is suddenly unavailable when we call, and our emails aren't being replied to. Can we close off the investments and transfer the cash without actually talking to her? Of greater concern is stopping the automatic funds transfers into the investments.

According to the adviser at RBC (who I trust with equal fervour to the woman we are ditching) the transfers need to be stopped at her end, and the transfer needs to be signed off before we can proceed. Also, I just discovered that Vanguard isn't available through RBC which makes me sad. Any suggestions for directions to go with them?

swick

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Re: Out of her cold, heartless hands.
« Reply #1 on: April 22, 2015, 08:47:46 AM »
I'm in the process of moving everything into a self-directed Questrade account. It's pretty simple to transfer you fill out the paperwork and send it to them, and they send it on IG. They also have Vanguard ETF's. Might want to look into it.

Cookie78

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Re: Out of her cold, heartless hands.
« Reply #2 on: April 22, 2015, 08:53:51 AM »
I'm in the process of moving everything into a self-directed Questrade account. It's pretty simple to transfer you fill out the paperwork and send it to them, and they send it on IG. They also have Vanguard ETF's. Might want to look into it.

This is what I did too. I just had to deal with Questrade, they sent the paperwork to IG and I never had to deal with them. But I had already called IG a few weeks earlier to cancel the automatic withdrawals.

scrubbyfish

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Re: Out of her cold, heartless hands.
« Reply #3 on: April 22, 2015, 09:24:57 AM »
I had the same trouble moving from VanCity, SunLife, and one more, and even into TD. All of them were dropping the ball (TD forgot).

Ultimately, I bypassed VanCity, wrote a very firm letter with short deadline directly to SunLife and the other firm, and pointedly cc'd the regulatory body on that letter. Everything was then done within days. (Investment Industry Regulatory Organization of Canada is one, but due to the type or place of investment I had to go somewhere else. I forget where, but IIROC told me.)

I'll be starting a thread shortly asking about RBC options.

Suzaloo

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Re: Out of her cold, heartless hands.
« Reply #4 on: April 22, 2015, 08:54:13 PM »
I worked with RBC Dominion Securities and just signed a couple of dozen pieces of paper and they handled all the transfers of funds from my LIRA and RRSP. No calls on my part to tell em I was leaving or having the "it's not you.it's me" good bye speech. Easy and relatively effortless.

Heckler

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Re: Out of her cold, heartless hands.
« Reply #5 on: April 22, 2015, 09:32:26 PM »
yup, just fill in the transfer forms from your new broker and send it to your new broker.   They take care of the rest.

We did send our advisor a thanks, but no thanks note just out of courtesy.



Heckler

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Re: Out of her cold, heartless hands.
« Reply #6 on: April 22, 2015, 09:33:57 PM »
BMO investorline has been very happy to consolidate our money.  Both Vanguard CA and US  ETFS are available for $9.95 per order.

Heckler

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Re: Out of her cold, heartless hands.
« Reply #7 on: April 22, 2015, 09:35:30 PM »
oh, but automatic payments to the old broker do need to be stopped by the old broker.  A written request should suffice, but you could also put a stop order through your bank account.