RESP Expertise you can trust
Unlike banks, mutual fund companies and financial planners, Heritage specializes in RESPs. In fact, we have 45 years of experience helping families reach their educational goals. Here’s how:
Pooled funds mean more investment opportunities
Heritage RESPs are what is known as a pooled fund. That means your contributions are combined with those of other subscribers so you can benefit from a wider range of secure investment opportunities.
Unnecessary risk is not an option
With Heritage Education Funds, your RESP is not at the mercy of the stock market. Your money is invested in various low-risk investments that earn a competitive and consistent return. So you know your money will be there when your child needs it.
Plans that deliver
Since 1988 Heritage has returned almost $500 million to students and parents for the pursuit of higher education.
A Heritage Representative can help you
Across Canada, Heritage Representatives are ready to offer you:
- Specialized RESP expertise
- In-home consultation
- Personal service available in different languages
- English
- Cantonese
- Mandarin
- Punjabi
- Hindi
- French
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No hidden fees or mark-ups
Q. I've heard that RESP providers have been known to earn as much in fees as they earn for the RESP itself. Can that happen with Heritage? |
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A. Heritage fees are always lower than they are with mutual funds. Mutual funds have an annual fee known as a Management Expense Ratio (MER). The average mutual fund MER in Canada is 2.44%†. (There may also be trustee fees, administration fees and account fees charged regardless of fund performance.) Heritage Pooled Plan RESPs have an annual administration fee of 0.55% and portfolio fee ranging from just 0.05% to 0.20%*. There is also a Membership Fee of $100 per unit (which may be refunded in part or in full with the Educational Assistance Payments) and an annual depository fee, depending on the contribution method selected.
Return of Membership Fee is a discretionary payment. Discretionary payments are not guaranteed. The Benificiary should not count on receiving a discretionary payment. The Foundation decides if it will make a payment in any year and how much the payment will be. If the Foundation makes a payment, the Beneficiary may get less than what it paid in the past. The Beneficiary may also get less than what the Foundation pays to the Beneficiaries in other cohorts. |
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††Source: Morningstar 03.31.10
*Source: Heritage Educational Foundation 03.31.10