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Email this4:59 pm
October 27, 2013
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I agree. Anyone with a Scotia iTrade account can buy either the DYN A or F series ISAs. I have done both by error, meaning I bought A series instead of F series.
These deposit accounts do not fall under the CIRO mutual fund directive to NOT pay trailer fees to 'order execution only', i.e. discount brokerage, accounts. That directive does apply to money market mutual funds (true mutual fund trusts), but not ISAs (deposit accounts).
Indeed, as far as I know, at least some discount brokerages deny access to their F series ISAs to their account holders. BMO Investorline is one for sure as I have an account there, and I believe both RBC DI and TDDI are others. OTOH, I think Questrade only allows their clients to buy F series.
Norman1's table is appropriate since a significant number of investors cannot access F series ISAs within their discount brokerage accounts.
10:35 am
June 22, 2023
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AltaRed is correct with respect to RBC DI only allowing clients to buy RBC A series. The irony is not lost on me, as I discovered (upon opening a QTrade account) that I could buy RBC F series products on QTrade but not on the RBC DI flatform. Nothing like destroying customer loyalty (although that was compromised long ago).
Maybe Peter could entertain the idea of creating a BISA chart. Maybe he could allow Norman limited access to update Peter's website. Thus, Peter would benefit from another fancy chart and Norman would still have his mojo flowing related to being the BISA guy.
10:47 am
October 27, 2013
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I am not sure of the benefit. F series ISAs almost exclusively have a yield 25bp more than that of A series, i.e. the amount of the trailer fee. I cannot imagine anyone is going to open a brokerage account at Qtrade just to buy, for example, the F series of the RBC ISA....versus buying A series of the in-house ISA at the brokerage they are already with.
I am lucky to be with Scotia iTrade anyway to avail myself of their DYN F series, but if that was not the case, I would buy an equivalent F series MMF that would achieve the same thing. As another example, with my account at BMO Investorline, I can only buy the A series of their BMT series of ISAs. I thus skip that and instead buy the F series of their MMF, i.e. BMO95142 to get about the same yield as an F series ISA. The point being, there are easy and effective workarounds.
