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Email this10:25 am
November 3, 2022
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canadian.100 said
If one has the minimums required, I think one should go with the GIC agents? Oaken would never be able to match the agents' rates.
I have had very mixed results dealing with deposit brokers, in both Toronto and Vancouver. The GIC certificates, and the T slips never arrive without follow up, and extra effort on multiple fronts. I, personally, am not willing to put up with these additional inconveniences unless the rates are >20 basis points above what I can get through digital FI's, which have always provided all the documentation for my investments, and tax slips, without drama.
10:49 am
August 4, 2010
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I’ve only dealt with a local Monarch/ GICDirect agent once, for a couple of $25K long term with Haventree. The broker was fine, but the Haventree back office screwed up a couple of times.
Given the way money goes in and out avoiding the brokers books, there has been no incentive to keep on.
10:50 am
February 7, 2019
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Rail Baron said
I have had very mixed results dealing with deposit brokers, in both Toronto and Vancouver. The GIC certificates, and the T slips never arrive without follow up, and extra effort on multiple fronts. I, personally, am not willing to put up with these additional inconveniences unless the rates are >20 basis points above what I can get through digital FI's, which have always provided all the documentation for my investments, and tax slips, without drama.
Have those issues been at specific broker(s) or specific FI(s)?
| CGO |
11:32 am
April 6, 2013
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Only one RRSP GIC certificate didn't show up after two months. The RRSP receipt was received weeks before.
Deposit broker recommended I give issuer a few more weeks to get through any RRSP season backlog.
Canada Post must have lost that one certificate. I contacted issuer directly. Issuer confirmed that the RRSP GIC was issued on the day expected. Issuer mailed me a branch stamped screenshot of my RRSP GIC in their system!
No issues with receiving the GIC certificate or RRSP receipt for the many other RRSP GIC's through the same deposit broker.
