Investment Savings Account (ISA) Interest Rates | Page 8 | Investing | Discussion forum

Firstly, ISAs are not mutual funds (they are deposit accounts) so the trailer fee message does not apply to them. The ISAs are only sold under the mutual fund system as a convenient vehicle for doing so.

There is no particular reason to buy DYN6000 when Scotia iTrade and a few other independent brokerages allow you to buy DYN6004. DYN600 may be the only option that can be purchased at some online brokerages because they insist on getting paid a trailer fee.

These ISAs can be bought and sold online at Scotia iTrade under the mutual funds trading tab.

AltaRed said
Firstly, ISAs are not mutual funds (they are deposit accounts) so the trailer fee message does not apply to them. The ISAs are only sold under the mutual fund system as a convenient vehicle for doing so.

There is no particular reason to buy DYN6000 when Scotia iTrade and a few other independent brokerages allow you to buy DYN6004. DYN600 may be the only option that can be purchased at some online brokerages because they insist on getting paid a trailer fee.

These ISAs can be bought and sold online at Scotia iTrade under the mutual funds trading tab.  

Who are the independent brokers that allows DYN6004 puchase ?

AltaRed said
Consider reading this and similar threads where such matters are discussed. Individual members have posted here regarding such brokerages. QTrade may be one of them if I recall correctly, but I sure wouldn't recommend going to a specific brokerage just for a 'trailer fee' free ISA.

One picks a particular brokerage for a host of services that best fits an overall investment portfolio need, e.g. trading commissions or not, connection to their bank or not, research, etc, etc.  

I believe qtrade and Scotia in house are the ONLY broker that allows DYN6004.

anita555 said
are there any F series available other than the Scotia brand DYN that have been discussed.  

I would expect all ISA providers have trailer free F series ISAs, some of which I imagine can be bought at Qtrade, for specific purchase through third party investment/financial advisors who charge a "% of AUM" fee for their services and cannot double dip on fees. That said, who would want to buy a F series ISA through an advisor that charges 1-1.5% of AUM for the privilege?

As AltaRed wrote, there is a trailer to the dealer for DYN6000, even when the dealer is Scotia iTRADE. Still perfectly legal as DYN6000 is not actually a mutual fund.

Qtrade: Which Money Market or High Interest Saving Account (HISA) funds can I buy? lists the series F ISA's available through Qtrade.

Hotspur said
Although I posted a couple of weeks back on DYN6004 I'm still waiting for the imminent return of my wife from Hungary to co sign a new iTrade account. One question. I understand the purchase and selling of DYN6004 is commission free at Scotia but is there any problem, after choosing the cash option instead of reinvesting the proceeds, with getting the monthly accrued interest payout from our iTrade cash account to my regular Scotia Ultimate Package Account? It all just seems too good to be true, that Scotia would grant us the full fee free 4.5% without some kind of hitch AND gift us $1000 if we keep the cash in our new iTrade account (set up account before March 1st) from March 31st to June 30th. I'm bringing half a million CDN from TD (just across the parking lot) and US$31,000 for DYN6005. So just a bit of paranoia! Previously Scotia sent an offer for 3000 Scene points ($30) if I use my debit card for $500 of purchases between October and the end of the year. Said they would pay it out in January ... and they didn't ... had to phone 3 times and sent proof of the offer and a screen shot of my account withdrawals ... twice (got it eventually). So with that kind of 6 figure bit of lolly I want to be jolly in July and not anxious in August. Thanks to all for sharing your experience!  

Well they are giving anyone who buys dyn6004 4.5%, u r not special by any means.
The $1000 is just a new account promo and all other brokers have similar new customer perk, again nothing special.

There could be an issue that the cash distribution option doesn't actually work with DYN6004 and the monthly interest is reinvested.

People have reported that, at another discount broker, CIBC Investor's Edge, distributions are always reinvested regardless of one's choice at time of purchase.

That would mean one would have to log in monthly to sell the "units" from reinvested interest.

I've always chosen to reinvest distributions. So, I don't know if the choice of not reinvesting the distributions is broken or not.

Is it a mutual fund? Or is it a savings account? To me, it's the latter. And it is odd to me to have a savings account's monthly interest paid outside of the account. I think people just want the option to cherry pick what best suit themselves.

So our trading account has been set up with Scotia. Using the "practice account" when typing in the ISA DYN6004 under the mutual fund tab the information in the sidebar says "BNS Investment Savings Account Series F". Is this the correct name of this ISA which presently yields 4.5%? Just wondering because I did a google search on that name and came up short. Must admit I didn't pursue it as thought it a better idea to post here and read from the experience of others.

Here are some URLs for the TD, RY and BNS ISA account rates:

TD ISA
RY ISA
BNS ISA