Tuesday 9 September 2008
BMO Investorline to Introduce RESP Accounts
BMO Investorline is to fix the anomaly of not offering Registered Education Savings Plan (RESP) accounts for its discount brokerage customers according to a recent note to clients from Connie Stefankiewicz, President & CEO. Good on them, it's about time. I am hoping it will facilitate online contributions with direct transfers of cash (dare we hope even contributions in kind?) from bank accounts or a regular trading account. The RESPs are to begin in "early fall".
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BMO has really dropped the ball on this. My daughter was born in May and since she was still in utero I've been emailing them every few weeks about when they'll finally offer RESPs. Believe it or not their original answer was that they'd be available in summer 08, then "early fall" then "late autumn" and I think the last I heard is early '09...
how hard can it be for a humungous bank to set a simple, legal tax shelter?
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