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SmartFolio: the smart solution for your RRIF

Start Investing Today

  • Relax with the security and assurance of a professionally-managed ETF portfolio
  • Enjoy online investing with 24/7 access to your account
  • Make the most of your retirement with low fees on your RRIF

Your RRIF will hold most of what you’ll be living off of in retirement, so you want to make sure it lasts

While everyone’s retirement plans are unique, relaxing and enjoying life are usually at the top of the list. You may be looking to travel the world, focus on your passion projects, or spend more time with your family and friends. So, you’ll want to make sure your investments are set up to help you make the most of your retirement.

You may want to consider a solution that keeps your money working for you, without the fees associated with traditional investing. This is where a Registered Retirement Income Fund (RRIF) account with SmartFolio can offer a number of advantages.

What’s a RRIF?

A RRIF account is a tax sheltered account that can hold all your stocks, bonds, GICs, and more when you retire. It’s like an RRSP in reverse. Instead of building the account up over your working years, you put that total in your RRIF and draw from it for your retirement. You can transfer into it as soon as you retire or wait until you’re 71. Just remember, you must convert your RRSP to a RRIF or annuity by the end of the year you turn 71.

Once you turn 71, you’ll need to withdraw a minimum amount each year, based on your age. You’re not limited to the minimum though, so if you were planning to get that new car, boat, vacation home, or travel the world, you can enjoy your retirement however you like. Remember, whatever you withdraw will be taxed as income, while the remainder continues to grow without taxes slowing them down.

How a RRIF account works with SmartFolio

When you open a SmartFolio RRIF account, you’re matched with a portfolio based on your needs, likely Capital Preservation or Income, depending on your tolerance for risk. Your money is then invested in a variety of BMO ETFs, and a team of Nesbitt Burns and BMO Global Asset Management portfolio managers monitor and adjust your holdings to take advantage of market fluctuations. SmartFolio could be the perfect choice for your RRIF, so you can enjoy your retirement while we look after your portfolio.

Here are a few more ways SmartFolio works well with an RRIF account:

Low management fees – ETF portfolios typically have lower management fees and expenses than those associated with traditional investing. Depending on your account size, your advisory fees range from 0.4 to 0.7%. Since SmartFolio fees are a percentage rather than a flat fee, your fees will continually decrease as you draw from your RRIF, leaving you more to achieve your dreams.

Diversification – A well-diversified portfolio can help preserve your assets with lower risk, helping ensure they last through your retirement, while still taking advantage of overall market growth. ETFs are already made up of a mix of stocks, bonds or other investments, which allows you to have a diversified portfolio at a lower cost than buying each investment individually. As you withdraw from your RRIF, your portfolio will be automatically rebalanced, to keep your account on track.

Professional investing – You don’t have to sacrifice having a professionally managed portfolio in order to lower your fees. SmartFolio portfolios are actively managed by a team of investment experts who are committed to making sure your portfolio stays balanced and on track – and at a lower fee than what you’d pay with a traditional investing service.

Your RRIF will hold most of what you’ll be living off of in retirement, so you want to make sure it lasts

Simple online setup and 24/7 monitoring

SmartFolio is an online service, and you can open an account online anytime, anywhere. The process is easy to follow, and if you have questions you can get in touch with a SmartFolio Advisor by phone, email or live online chat. If you’d prefer, you can always visit one of our BMO branches to open your account. Once it’s set up, you can check in on your investments 24/7 on any device – which is particularly convenient if enjoying your retirement means travelling to other time zones.

Ready to start investing?

Open your SmartFolio account and let us help you reach your financial goals. Start by getting matched with an ETF Portfolio.

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1. Canadian Revenue Agency. Contributions - Canada.ca. 24 11 2016. 12 09 2017. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/tax-free-savings-account/contributions.html.
* Contribution limits are accurate as of the limit for 2018, contribution limits may change for 2019 onwards