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Financial service providers generally charge a fee to manage your investments. Kaleido is no exception and has sales charges, the amount of which varies depending on the type of RESP opened.
If you subscribed to a group plan, your first contributions are used to pay sales charges until 50% of these are paid off. The balance is taken at a 50% rate from your subsequent contributions, up to a maximum of $200 per unit. You will be refunded the amount paid in sales charges once your plan reaches maturity.
If you opened an INDIVIDUAL Plan, the applicable sales charges are deducted at a 40% rate from contributions, up to a maximum of $200. This sum is not refundable at plan maturity.
Fees are disclosed and openly explained at the time you set up your RESP. For an accurate picture of your specific situation, visit your Client Space. You can view the details of your account balance, as well as the documentation received when you opened your RESP.
Good to know: No sales charges apply if you opened an RESP for low-income families to receive the Canada Learning Bond (CLB), and no contributions have been made to this plan.