How to Open a TD E-Series Fund
The TD E-Series Fund is a great way to start out with mutual funds without having to spend half of your account value on MER’s (Seriously, though). It’s a great way to avoid trading commissions every time you execute a transaction. The best part? You only have to go to the bank once!
TD E-Series seem to be tough to acquire, and most of the problem is because nobody at the branch knows what you’re talking about. TD E-Series is managed entirely online, so the branch has no idea what you’re talking about because the bank isn’t going to spend money teaching branch employees the details of the fund. This is to your advantage because you don’t have to pay for the services of a mutual fund specialist because there isn’t one. The MER’s for the E-Series are small – 0.31 – 0.48% compared to a breathtaking 2.5% for full-service mutual funds.
I’ve read some horror stories of people having to wait more than six weeks to get their fund in working order. I’ve created this guide to save you some time.
Here’s the best way to get your E-Series fund up and running:
- You need to start by going to your nearest TD branch and opening a Mutual Fund account. Make sure you request easyweb access.
- Now you have your Mutual Fund account; you can convert it into an E-Series account. Send all the paperwork in, and usually within a week you will have an E-Series Fund account.
- Now that everything is up and running, you should set up you pre-authorized purchase plan. Everything is automated, and it’s awesome.
Here’s the best number to call if you’re having problems getting your fund up and running. 1 800 – 281 – 8029, and here is a troubleshooting page.
Leave a comment below if you have any questions, and I’ll do my best to answer them!