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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.

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