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Email this9:39 am
November 3, 2022
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Thanks for clarifying, @mustang . There seems to be a Catch-22 with registered GICs at Oaken. I cannot see an exit strategy to holding them without a registered HISA to direct the proceeds from maturing certificates, just like you have done with your non-registered funds.
And if I can't see how to get out of an investment, than I am reluctant to get in!
9:58 am
January 12, 2019
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Dean said
I can attest that Oaken has been "promising" registered SAs, for at Least 5 years now. So Yes, don't hold your breath ... cuz it may actually Never happen.
No registered SAs are part of Oaken's 'Modus Operandi' ... for what ever reason(s), it's part of their overall plan & approach.
We are left to; 'Govern Ourselves Accordingly'.
Dean
And FWIW ... I continue to have No Registered $$$ @ Oaken.
- Dean
" Live Long, Healthy ... And Prosper! "
10:05 am
April 6, 2013
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Would there actually be an issue at maturity with an Oaken registered GIC?
The registered GIC can be renewed or transferred out.
When transferring out, there shouldn't be an issue if Oaken were to receive the direct transfer paperwork a few weeks before maturity. Oaken could just delay processing the request until maturity date or delay until a few days before maturity and mail a post-dated cheque out.
10:14 am
February 7, 2019
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Rail Baron said
Thanks for clarifying, @mustang . There seems to be a Catch-22 with registered GICs at Oaken. I cannot see an exit strategy to holding them without a registered HISA to direct the proceeds from maturing certificates, just like you have done with your non-registered funds.And if I can't see how to get out of an investment, than I am reluctant to get in!
The MIA Registered HISA's is why many of us don't have Oaken Registered GIC's...
| CGO |
10:23 am
February 7, 2019
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Norman1 said
Would there actually be an issue at maturity with an Oaken registered GIC?The registered GIC can be renewed or transferred out.
When transferring out, there shouldn't be an issue if Oaken were to receive the direct transfer paperwork a few weeks before maturity. Oaken could just delay processing the request until maturity date or delay until a few days before maturity and mail a post-dated cheque out.
Much simpler and safer to hold Registered GIC's elsewhere ...
| CGO |
10:35 am
October 27, 2013
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cgouimet said
Much simpler and safer to hold Registered GIC's elsewhere ...
That was my conclusion well upthread. Why even consider registered GICs at Oaken? It is akin to standing in the center lane of a freeway.
10:42 am
February 7, 2019
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AltaRed said
That was my conclusion well upthread. Why even consider registered GICs at Oaken? It is akin to standing in the center lane of a freeway.
At 140kph going past your exit ...
| CGO |
11:24 am
October 21, 2013
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Maybe new owner will improve things - or not.
Meanwhile, we have removed all registered GICs from Oaken except one small TFSA which matures next year.
The non-registered ones are all gone now too, due to uncompetitive rates, incompetent constantly-churning staff, and generally being harder to deal with them than it used to be.
11:46 am
October 27, 2013
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I think everyone should assume Smith Financial will make some changes in the Home Trust/Oaken Financial business.... for good or for bad, so with that uncertainty, I wouldn't be doing new business with them, at least at a retail level.
Maybe okay through the brokerage channel, e.g. Home Trust GICs through, for example Scotia iTrade, where the issuer has no direct relationship with retail investors.
It may end up being something similar to Equitable's purchase of Concentra where EQ dropped Wyth Financial HISAs but is continuing with Concentra Bank/Concentra Trust GICs, including those in registered accounts.
Please write your comments in the forum.