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Email this2:12 pm
October 23, 2016
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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.
4:01 pm
February 1, 2016
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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.
8:18 pm
October 21, 2013
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As my RIF GICs have come due the last couple of years, I have found myself making the decision to move them either to Hubert, where the service is excellent, or to one of the smaller Ontario CUs. Most of the latter also have good service but not always the best rates. They do however, have unlimited insurance on registered accounts.
Oaken is definitely to be avoided, for reasons stated.
I have no experience with Achieva.
11:20 am
October 23, 2016
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Thank you Rodeworthy for your kind welcome and sharing your knowledge.
I intend to close my Achieva accounts because I lost confidence in them when I recently inquired about the Executor and POA. I have had good service from Achieva but think a move is in my best interests. Perhaps follow Loonie's suggestion to investigate Ontario credit unions.
1:00 pm
October 21, 2013
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Much as I like Hubert, I don't want any complications with an executor or POA having to deal with rules in another province. Thus, I only keep registered accounts with named successor beneficiary and joint non-registered accounts there. Those should be relatively easy for someone else to deal with. Even with the registered accounts that have beneficiary, I am reluctant to buy GIC although sometimes do; mostly used for cash accounts that could be moved if I became terminally ill.
Please write your comments in the forum.