RBC Direct Investing (formerly Action Direct) experience

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Shakespeare
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Post by Shakespeare »

The PH&N issue.
One wonders how long Scotia will allow free access to PH&N....
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Post by Beek »

The TD e-series funds are only index funds, correct? That makes RBC's D-series rather interesting if you want some active management.
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Bylo Selhi
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Post by Bylo Selhi »

Shakespeare wrote:
The PH&N issue.
One wonders how long Scotia will allow free access to PH&N....
Then hold PH&N funds directly with PH&N. It's a bit cumbersome to get money to/from your regular brokerage account but in my experience PH&N does everything they can to expedite transfers in either direction.
Beek wrote:The TD e-series funds are only index funds, correct? That makes RBC's D-series rather interesting if you want some active management.
There are many other options, especially if you deal directly with the fundco, e.g. PH&N, SteadyHand, Mawer, Saxon, etc. Some discount brokers also offer these funds without sales charges. Also some bank funds, the original Trimark Canadian and Trimark Fund, etc., even with trailers, charge significantly lower than average MERs.
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Post by graemediesel »

Something that would be nice is if Direct investing would allow you to pay an annual fee and then invest in f class funds. I've read of a couple of discount brokerages that do that, but they don't seem to allow the convenience of buying and selling and moving money from your bank account online, plus I wonder about the reliability of the companies because I have hardly heard of them.
lystgl
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Post by lystgl »

Anyone heard anything from RBCDI on our 1% yet? Nothing in our accounts to date.
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Shakespeare
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Post by Shakespeare »

I believe someone posted June 25 as the credit date.
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AltaRed
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Post by AltaRed »

From RBC's T's and C's on the offer....
The 1% cash incentive is conditional upon the Transferred Assets remaining in your Account until 4:00 p.m. (EST) on May 31, 2007 (the “Hold Date”).

The 1% cash incentive is payable the week of June 25, 2007 and will be calculated using the market value of the Transferred Assets as of the Transfer-In Date, as determined by RBC DI in its sole discretion, minus any net cash withdrawals from your Account between the Transfer-In Date and the Hold Date. The maximum amount payable under this offer is $2,500 per account type or $10,000 per client.
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Post by lystgl »

Thanks Shakespeare, Altared
I've been losing a little (on paper anyway) the last week with all the interest rate increase talk etc. and can use a little financial "pick me up".
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DavidR
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Post by DavidR »

Got a letter today from BMOIL inviting me to 'bring my assets back..

Respond by June 30 to get 3 months of Gold 5 Star service.
(Surely they can do better than that!)
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parvus
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Post by parvus »

Got a letter yesterday from RBC saying that because I have an RBC Visa and an investment they will waive the $4 per month banking charges. Problem is, I was thinking of shifting my RBC Dividend fund to my Action Direct brokerage account to take advantage of the management fee reduction. That doesn't count as an RBC investment. :(
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Post by twa2w »

parvus wrote:Got a letter yesterday from RBC saying that because I have an RBC Visa and an investment they will waive the $4 per month banking charges. Problem is, I was thinking of shifting my RBC Dividend fund to my Action Direct brokerage account to take advantage of the management fee reduction. That doesn't count as an RBC investment. :(
Leave 500.00 in the dividend fund at the branch. That will qualify. so the 1% or $5.00 extra you pay in MER will save you 12X 4$=48.00
Cheers
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Post by parvus »

Thanks! I'll look into it.
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Post by arnyk »

^If you can get a decent rate retail GIC then you could save on the MER and just stick $500 into cash instead (or whatever the min is).
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Post by BRIAN5000 »

Wow 1% bonus for moving money to RBC, I missed that. I tried TDCanada trust the other day. All I wanted was two MP3 players ( @$500.00 ?) for moving half a mil. brokerage account. Of course they said no.
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Post by lystgl »

BRIAN5000 wrote:Wow 1% bonus for moving money to RBC, I missed that. I tried TDCanada trust the other day. All I wanted was two MP3 players ( @$500.00 ?) for moving half a mil. brokerage account. Of course they said no.
Yeah, we should be seeing something this week. Anyone know how they can contribute to a RIF / LIF directly? I'd prefer they put the cumulative sum in one of our non-registered but suspect they'll want to put the right amount in the right account. (based on the #'s)
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Post by AltaRed »

lystgl wrote: Anyone know how they can contribute to a RIF / LIF directly? I'd prefer they put the cumulative sum in one of our non-registered but suspect they'll want to put the right amount in the right account. (based on the #'s)
I was told last November that the funds would be credited to each of the accounts as a 'negative fee'. And therefore the $ would not be included in a tax slip, i.e. not taxable.
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Post by lystgl »

AltaRed wrote:
lystgl wrote: Anyone know how they can contribute to a RIF / LIF directly? I'd prefer they put the cumulative sum in one of our non-registered but suspect they'll want to put the right amount in the right account. (based on the #'s)
I was told last November that the funds would be credited to each of the accounts as a 'negative fee'. And therefore the $ would not be included in a tax slip, i.e. not taxable.
AltarRed, when I withdraw it from my RIF, it would be taxed though, wouldn't it? Then again, how does one withdraw a "negative fee"?
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AltaRed
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Post by AltaRed »

lystgl wrote:AltarRed, when I withdraw it from my RIF, it would be taxed though, wouldn't it? Then again, how does one withdraw a "negative fee"?
Yes. I imagine it will be taxed just like any other withdrawal. The negative fee should simply be another asset of the RIF. Sorry for the confusion. My comment above was focused on taxable accounts.
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Post by lystgl »

AltaRed wrote:
lystgl wrote:AltarRed, when I withdraw it from my RIF, it would be taxed though, wouldn't it? Then again, how does one withdraw a "negative fee"?
Yes. I imagine it will be taxed just like any other withdrawal. The negative fee should simply be another asset of the RIF. Sorry for the confusion. My comment above was focused on taxable accounts.
Guess I'll just have to wait and see. One or two more sleeps and we should find out how they get around putting monies (even as negative fees) directly into RIF/LIF accounts without first going into an RRSP. I'd phone them and ask but don't want to upset the apple cart this close to D Day.
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Post by Nishiki »

My 1% bribe appeared in my RRSP this morning. Perhaps the easiest $2500 I ever made in my investing efforts.
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Shakespeare
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Post by Shakespeare »

Mine isn't there. Nor did I get a phone call.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
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Arby
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Post by Arby »

The 1% bonus appeared in my margin account this morning.
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Post by BRIAN5000 »

What were the terms to get the 1% ?
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Shakespeare
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Post by Shakespeare »

What were the terms to get the 1% ?
Here.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
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northbeach
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Post by northbeach »

1% showed up in my margin account. :D

I will wait till Tuesday for the bonus to show up in my other accounts before phoning to inquire.
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