Hello David,
I intend to put my RRSPs into some kind of order one of these
days. Per your suggestion of a long time ago, I did contact XXX
XXXXXX, but my RRSPs don't meet his minimum requirement.
I toy with the idea of cashing them in and paying the penalty. I
don't know if the next few years will see us staying down here,
moving to Brussels, Luxembourg, or Canada. RBC and CIBC still
have my Canadian address on file - which I should change.
So my question is, can a nonresident (i.e. me), buy & sell in the
existing RRSPs?
or only buy, or only sell?
and.....WHY can't a nonresident do whatever it is they can't do?
Can I at least transfer my smaller RRSP into my larger one?
------------------------------------------------------
david ingram replies:
Try Darrell Thompson at Blackmont Securities in Toronto. He and
Blackmont are licenced to do everything that you require.
Unfortunately, although they started off well, the brass at TD
Waterhouse effectively closed down the
It is the individual state Securities commissions that stops the
Canadian RR (registered representative) dealing with an American
resident. However, remember that it also applies from province
to province. A mutual fund salesman in Vancouver can NOT sell a
mutual fund to his brother in Toronto unless he is registered in
Ontario as well. In BC, it is common for Mutual Fund salespeople
to have two licences because they keep their old licence when
they move to BC. Fred Snyder for instance, the host of "ITS YOUR
MONEY" which I used to co-host is licenced to operate in Ontario.
BUT, Fred can not deal with you in California, Illinois, Florida,
New York or the State of Washington which I can see from my
living room window. However, for anyone living in the lower
mainland area, the free seminars offered by Fred are a "must-go".
Seeing as how you work for a "BIG" bank, you will have no problem
understanding the bureaucratic rules which deal with cross-border
issues.
Darrell Thompson's email is:
dthompson at blackmont.com
he has a toll free line at 866 - 775-7704 - His office is in
Toronto.
david
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