FAQ: Account Types & Minimums
What types of accounts can I open?
Polaris supports all major account types. These include:
- Tax-Free Savings Accounts (TFSA)
- RRSP – Registered Retirement Savings Plan (RRSP)
- Registered Retirement Income Plan (RRIF)
- Registered Education Savings Plans (RESP)
- Spousal RRSP
- Spousal RRIF
- Locked-in Retirement Accounts (LIRA/LRSP)
- Locked-in Retirement Income Funds (LRIF)
- Individual and joint non-registered accounts
- Corporate accounts
- Trust accounts
How much money do I need to become an Polaris Wealth Direct client?
Polaris Wealth Direct does not have a minimum account size, but instead charges a minimum household fee in the amount of $500. This fee includes all accounts in your household. If, for example, you have a TFSA, RRSP and non-registered account, and the combined assets are less than $70,000, you will pay $500 total for all three accounts (not $500 per account).
Does Polaris Wealth Direct have a minimum for each individual account?
Each individual account (e.g. TFSA, RRSP) must have at least $2,500.