closing account: avoiding yearly fee

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Bronze Ring
Bronze Ring
Posts: 18
Joined: 13 Jan 2012 01:01
Location: Vancouver

closing account: avoiding yearly fee

Post by Turkey1 » 27 Sep 2016 18:49

Hi All,
I have finally decided to move my whole Raymond James portfolio over into my self directed TD Waterhouse account.
I had assumed my yearly fee would be charged yearly, January 1st. Now looking at my past statements I see this fee is charged in my October statement.
So hoping to avoid this, I have rushed to a TD bank, and initiated the transfer paperwork today. apparently this will not be completed by the end of the month, (thus avoiding the "next years fees").
Does anyone have any advice on how to word an email to my adviser to put a freeze on any fee activity on my account? Its only $180.00, but that money would be better in my pocket than theirs! They have made enough from me through front ends, back ends, and DSC's.

Just on a side note, I had sent an email to my financial adviser, wondering why I have not seen any breakdown of the new Client Relationship Model to provide better disclosure of true costs and performance on my statements, required by Canadian Securities Administer, and he blew me off saying they had another full year to comply with this regulation.
This is not what I have read in many other publications. Does anyone here have any incite into this?

Thanks for your time.

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