Give Me Back My Five Bucks

Dear TD Canada Trust … eat it.

A few days ago, I blogged about how I was so excited to switch my non-registered mutual funds account from the TD Balanced Growth Fund, over to the Canadian Index e-Fund. Well, today I got an e-mail saying my transaction request was not processed. Wait, WHAT!?

Order # XXXXXX-XXXX-XXXXX

Dear Investor,

[…] We have not fulfilled your request because it may not be suited to your current investor profile. We have based this assessment on the information you provided us regarding your personal circumstances, investment knowledge, objectives, time horizon and risk tolerance. Not only do we want to help you make the best investment decisions, we are required to assess the suitability of all mutual fund
account transactions.

Please contact a TD Investment Services Mutual Funds Representative to review and update the information we have regarding your Investor Profile.

Thank you,

TD Investment Services Inc.

I thought the whole point of having an e-fund was so that I could take over my own account, and make all the decisions I wanted to make over the internet. I wanted to eliminate having to actually talk to an advisor, but apparently now I’m going to have to. I guess I understand the need for them to make sure I’m not investing in something completely ridiculous, but still. To just send me an e-mail telling me they aren’t processing my request seems silly. The least they could have done was call me and tell me they aren’t doing what I want them to do, instead of making me call them and wait on hold while I’m at work (I’ve never once gotten through without being put on hold).

Now I’m going to have to talk to one of their advisors, and I don’t want to have to explain to the reasoning behind why I’m switching. I also don’t want them to sucker me into another fund when that’s the one I want. ARGG. And I hate how they want to update my investor portfolio. Well, no kidding the new mutual fund I picked isn’t suited to my investor portfolio, because the only investor portfolio I filled out was for my RRSPs. This account I opened myself. And I don’t want them messing around with my RRSP investor portfolio either.

I am really disliking TD right now, and they’d better not pull this crap on me every time I make a change to my portfolio.

Author: Krystal Yee

I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.


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