Recommendations to move GICs | GIC discussions | Discussion forum

Mari said
I have GICs including TFSAs and a RRIF with Achieva. The Discussion Forum flagged some issues with Achieva reinforcing some concerns I had. Please suggest where I might transfer my funds. I live in Ontario.  

Mari, welcome to the forum. I hope you can find the information you are looking for here.

I live in Ontario too. I have RIF money at Achieva but in the era of low interest I moved most of my TFSA to EQ Bank. That has been a successful move for that fund. I moved much of my RIF to Oaken after interest rates fell below 3%. That became burdensome with the lack of RIF Savings Accounts at Oaken and the method of collecting the minimum payout from interest earned from multiple GICs. I eventually developed a way of tracking all this but it was tedious. In the end I moved all RIF money back to Achieva. The rates there are not currently the greatest but I am not seeking top earnings here. My goal is to deplete the RIF funds by judicious withdrawals within limits of income tax rates and OAS recovery tax. That will become more difficult as interest rates rise.

I have a long history with Achieva and I have been very satisfied with my dealings with them. I, and I am sure others here, would be interested to know some specifics of your concerns with Achieva. If you are comfortable with the request perhaps you could elaborate what your concerns are.

I am sure others will provide information of where your funds can go but I would be very interested to find out if there is more than chasing higher interest rates that causes you concern.