question about manulife and unemployment

[Rogue_77]

Didn't want to start 2 threads so I'm gonna put my questions in 1 thread.

I have mutual funds and stock with Manulife from work but I'm no longer involved with that company. Any comments on how they operate? Should I transfer everything to my bank where the bulk of my investments/cash is? I'm currently with RBC. The mutual funds have been ok but I'm more worried about my stocks 'cuz if I move them, I'll have to open up the RBC Direct or whatever it's called to allow me to trade stocks.

The other question is in regards to unemployment. While I am searching for a job, I want to apply for unemployment for worse case scenario. Now, do I sign up for this at the employment offices?

Thanks for any input in this matter

[savemo]

Check out the EI FAQ at,

http://www.servicecanada.gc.ca/en/sc/ei/benefits/regular.shtml

You can apply online at,

http://www100.hrdc-drhc.gc.ca/ae-ei/dem-app/english/home2.html

You'll also need a form called the Record of Employment (ROE) from your employer.

Drop off the forms off at an EI office, and after that, it's a waiting game (well, you do have to fill out reports every week).

Good luck!

[slowpoke]

I'm more worried about my stocks 'cuz if I move them, I'll have to open up the RBC Direct or whatever it's called to allow me to trade stocks.

What is it that worries you about opening up and Action Direct account?

[Aske001]

No need to move your accounts as long as they are in your name and not subject to any restriction. If you do move them, you might want to look around for the best deal on a trading account - RBC is probably not the best.

As for EI, it depends on your personal situation. EI is a waste of time for most working Canadians (i.e., the ones that pay the bills). If you go straight from one job to another, or if you have severance pay tiding you over from the unexpected end of one job to the start of another, you will never be eligible to receive EI. In that case applying and filling out the forms "just in case" will turn out to be a huge waste of your time.

[Rogue_77]

What is it that worries you about opening up and Action Direct account?

Well, for one, not sure if it'll be cheaper to sell my stocks thru Manulife rather than RBC since I don't have any experience with that sort of thing.

And two, if I don't have to bother with opening an account, I won't.

[Rogue_77]

So I have to wait for the severance period to end before I can collect EI?

[slowpoke]

Well, for one, not sure if it'll be cheaper to sell my stocks thru Manulife rather than RBC since I don't have any experience with that sort of thing.

And two, if I don't have to bother with opening an account, I won't.

RBC will charge you about $30 to buy or sell stock of most companies. I say most because commissions are higher for lower priced stock of a few dollars or less (not sure about the precise numbers/levels). Pretty much the same at all bank brokerages.

Is it Manulife stock you're holding?

[Mr. Robo]

So I have to wait for the severance period to end before I can collect EI?

That's correct.