Top RESP Providers in Canada: A Comprehensive Overview

RESPs (Registered Education Savings Plans) are a popular savings vehicle for Canadian parents who want to save for their children's post-secondary education. With the cost of tuition, books, and living expenses increasing each year, it's more important than ever for families to start saving early.

When it comes to choosing an RESP provider, there are many factors to consider. Some of the key considerations include the fees, investment options, customer service, and flexibility of the plan. In this article, we will take a closer look at the Top RESP Providers In Canada and compare their plans to help you make an informed decision.

Knowledge First Financial

Knowledge First Financial is one of the largest RESP providers in Canada, with over 500,000 customers and $6.4 billion in assets under management. Their plans offer a variety of investment options, including mutual funds and GICs, and they also offer a scholarship program that awards over $1 million in scholarships each year. One of the unique features of Knowledge First Financial is their Group Education Plan, which pools the contributions of multiple families to provide a guaranteed return on investment.

Heritage Education Funds

Heritage Education Funds has been providing RESPs for over 50 years and manages over $2.3 billion in assets. Their plans offer a range of investment options, including mutual funds, GICs, and individual stocks and bonds. They also offer a scholarship program that awards over $1.5 million in scholarships each year. One of the benefits of Heritage Education Funds is their flexibility, as they allow families to change the amount and frequency of their contributions at any time.

CST Spark

CST Spark is a newer RESP provider that was launched in 2017 by the Canadian Scholarship Trust Foundation. Their plans offer a range of investment options, including ETFs and individual stocks and bonds. One of the unique features of CST Spark is their low fees, as they offer some of the lowest management expense ratios (MERs) in the industry. They also offer a scholarship program that awards over $250,000 in scholarships each year.

RESP by TD Bank

TD Bank is one of the largest banks in Canada and offers a variety of RESPs to meet the needs of different families. Their plans offer a range of investment options, including mutual funds and GICs, and they also offer a scholarship program that awards over $1 million in scholarships each year. One of the benefits of TD Bank's RESPs is their flexibility, as they allow families to change the beneficiary of the plan at any time.

Scotiabank RESP

Scotiabank is another major Canadian bank that offers RESPs to help families save for their children's education. Their plans offer a range of investment options, including mutual funds and GICs, and they also offer a scholarship program that awards over $1.5 million in scholarships each year. One of the benefits of Scotiabank's RESPs is their convenience, as families can manage their plans through the Scotiabank mobile app.

In conclusion, choose Sensible Insurance the right RESP provider is an important decision that can have a significant impact on your child's future. By considering factors such as fees, investment options, customer service, and flexibility, you can make an informed decision and choose the best plan for your family's needs. The top RESP providers in Canada, such as Knowledge First Financial, Heritage Education Funds, CST Spark, RESP by TD Bank, and Scotiabank RESP, all offer competitive plans that can help your family save for your child's education and achieve their dreams.