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Our response:

We can’t provide advice but try to provide general information to help get you started. It’s important to understand the types of RRSP fees you may be charged. Generally, there are 4 areas where fees may be applied. When you open an account (institutions may charge a setup fee), annual administration fees (annual fees for RRSPs can vary, make sure you understand what these fees are before you open an account), investment costs—commissions when you buy and sell stocks and ETFs or a management expense ratio (MER) if you hold mutual funds, and other transactional fees may apply for activities such as, transferring money to another RRSP or closing an RRSP. Ensure you read and understand information provided to you before acting and seek advice if you need help.

The resources on GetSmarterAboutMoney.ca may help build knowledge in this and other areas including, ETF fees and mutual fund fees. Please speak with a registered financial representative for personalized investment advice.