What are the different ways RESP plans are managed?

Your RESP can be either self-directed or managed.

Self-Directed RESPs In a self-directed RESP, you as the subscriber decide what investments will be made. Typically, you’ll be charged an annual administration fee from the plan provider. You may also be charged commissions fees when buying or selling securities within the Plan.

Managed RESPs In a Managed RESP account, your contributions will be invested in individual securities or a pool of securities that is professionally managed. You may have to pay sales charges which will be deducted from your contributions. From there you may be charged ongoing management, Deferred Sales Charges (DSC) and plan administration fees.