I came across this article today...and her story could be my story. Same company and same experience.
http://bc.ctvnews.ca/mobile/mom-disappointed-in-high-fees-for-daughter-s-resp-1.1574303#
Just after having my second child I was contacted by a neighbor involved with the Welome Wagon. It seemed harmless enough, however, not long after I started getting multiple phone calls a day from people wanting me to meet with them about RESP's. For the longest time, I told them I wasn't interested, but to contact me later. However, it seemed like I was still getting a lot of phone calls. Sleep deprived and wanting to be the best mom that I could be, I finally decided to meet with one of the men that continually followed up...on my "maybe laters". My husband and I signed up thinking we were doing a great thing for our children, and although we didn't have a lot to invest, we put what we could. Now almost 7 years later, it makes me want to cry to see how much they are charging. I'm also a little fearful that once my kids are old enough to go to school they will find themselves in a predicament where they are not able to pull their money out because their program or school that they choose doesn't fall into one of their fine print selections.
Obviously we signed the papers and are locked into the contract, and unfortunately for us they take all of their fee's up front. It makes me sad to know that money we worked so hard to save for our kids is lost to us.
Would love to know if anyone else has similar experiences. My advice to new parents who are going to start an RESP is to do it...but whatever you do....RESEARCH RESEARCH RESEARCH. Find out start up fee's. Don't just go in blindly....or sleep deprived. Waking up just might shock you.
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