Is it normal for TD to call about portfolio allocations?

Asset allocation, risk, diversification and rebalancing. Pros/cons of hiring a financial advisor.

Is it normal for TD to call about portfolio allocations?

Postby HardWorker » 15 Sep 2011 17:53

This afternoon I got a call from a TD rep wanting to review my portfolio over the phone, to see if it still matches my needs. I said I was fine with it. He said the markets are very turbulent and many are panicking. I said I know, and I'm OK with that. And that was it, it didn't sound like he was selling anything, or maybe I didn't sound like a good buyer to him.

I was at work and kept it brief, but I might call back later and see if it was a legitimate call, or if someone was phishing for info, or if it was just a sales call. This account has around 40k in it, so I must be pretty low on any list.
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Re: Is it normal for TD to call about portfolio allocations?

Postby HardWorker » 15 Sep 2011 18:28

OK I had the chance to call them back, and apparently they have an outbound cell center that does this if your profile hasn't been updated in over a year. The number that calls is different than the regular TD phone line. And apparently if you don't update your profile on regular basis they may limit changes you might make online by yourself.
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Re: Is it normal for TD to call about portfolio allocations?

Postby newguy » 15 Sep 2011 19:00

HardWorker wrote:OK I had the chance to call them back, and apparently they have an outbound cell center that does this if your profile hasn't been updated in over a year. The number that calls is different than the regular TD phone line. And apparently if you don't update your profile on regular basis they may limit changes you might make online by yourself.

Yah, happened to gf. You get a message saying 'blah blah may not match your risk profile'. Transferred to TDWH and no more hassles. Also, the bank (not tdwh) makes it theoretically impossible to hold less than 25% FI.

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Re: Is it normal for TD to call about portfolio allocations?

Postby HardWorker » 15 Sep 2011 20:41

I hold a 100% equites. How can they possibly stop you from doing it?
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Re: Is it normal for TD to call about portfolio allocations?

Postby newguy » 15 Sep 2011 21:28

HardWorker wrote:I hold a 100% equites. How can they possibly stop you from doing it?

You have to fill out a risk profile and follow it. The highest risk profile they have is 25% fixed income. They flat out told my gf she'd have to move her rrsp to go above that (she has db plan for FI). I could probably have complained but she was above the limit for free accounts at tdwh anyway. Maybe you have a balanced fund or something?

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Re: Is it normal for TD to call about portfolio allocations?

Postby HardWorker » 15 Sep 2011 22:19

I have 40% Canada, 40% US, and 20% INTL. All e-series funds. Maybe because my account is smaller than your GF's?
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Re: Is it normal for TD to call about portfolio allocations?

Postby newguy » 15 Sep 2011 23:19

Actually you may be right now. I just looked up the application and it has changed. The most aggressive is now all equity, ~1/3 in Canada, US and EAFE.
tde.jpg


I wonder if I can find an old application somewhere but it's definitely changed, other people have remarked on it here as well. They probably changed it because I called them all fools and left for the competition (tdwh :roll: )

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add link
http://www.tdcanadatrust.com/mutualfund ... PP0111.pdf

add2 I posted the wrong pic but it's the same almost the same.
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Re: Is it normal for TD to call about portfolio allocations?

Postby HardWorker » 15 Sep 2011 23:50

Its not smart business to limit people's choices on risk tolerance. Even my company's mutual fund program allowed me 100% equity, instead of their prescribed mix.

Right now, apparently the only thing you have to do is make sure your profile is up to date, or they may limit certain transactions.
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Re: Is it normal for TD to call about portfolio allocations?

Postby newguy » 15 Sep 2011 23:55

HardWorker wrote:Its not smart business to limit people's choices on risk tolerance.
Well brokers have been sued and lost for letting clients take on too much risk.

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