Individual vs. Family RESP
Author: Sound Choices
August 29, 2019
Do you know the difference?
The content in the below article is meant for Canadian investors only.
There are two main types of RESPs – and which one you choose often depends on your relationship to the beneficiary:
- An individual RESP can be opened by anyone for anyone.
- A family RESP can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.
|INDIVIDUAL RESP||FAMILY RESP|
|Recommended for:||Recommended for:
Ask your financial advisor today about how to get started with education savings, or visit AGF.com/RESP.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
© 2019 AGF Management Limited. All rights reserved.