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Manulife Investment - Transfer Out Fees
August 8, 2014
10:25 am
Forum Posts: 1232
Member Since:
December 23, 2011
sp_UserOfflineSmall Offline

Hi I will have cash and one ETF that I would like to move OUT of Manulife investments. Has anyone experienced this process?
What are the transfer fees?
Are they taxable?
Did you experience any delays and/or difficulty with your adviser?

I am planning on moving away from another hand in my pocket and wonder if I should move large sums when they come due .... just to do better elsewhere OR just wait and do it all at once. The plan is to move to multiple institutions and am aware of the implications when I have to change to RRIF accounts.

August 9, 2014
2:54 am
Forum Posts: 6270
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

I have no experience with ManuLife, but if these are in your RRSP, I have always understood that it's better to pay fees outside of the RRSP so that you keep the RRSP money fully sheltered. It seems to me that it ought to be an investment expense for tax purposes.
Dumb question maybe, but can't you just ask them up front about the fees? It should be in your agreement with them somewhere, no? If it isn't, then you shouldn't pay anything!

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