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RESPs (Registered Education Savings Plans) are one of the best ways for parents and family to save for a child’s post-secondary education. The two most popular RESP providers in Canada are Questrade and Desjardins. Each RESP provider provides different levels of contribution, fees, and benefits, so it is important to consider the differences between the two before making a decision.

Questrade offers a lower annual fee compared to Desjardins. It also has a higher contribution limit, allowing you to make larger contributions to your RESP. Questrade also offers a Suite of Investment Funds, giving investors the opportunity to choose from a variety of investments. The Suite of Investment Funds is also complimented by a number of other products, including stocks, bonds, mutual funds, Exchange Traded Funds, and cryptocurrencies.

Desjardins has a slightly higher annual fee than Questrade, but it does not have the same variety of investments. Desjardins does, however, offer an automated portfolio service, allowing parents to offload some of the investment decision making to a team of professionals.

For parents looking for the most cost-effective option, Questrade is the clear choice. With lower fees and a variety of investments, Questrade offers parents a great way to save for their child’s future. For parents who are less confident in their investment decision making or who are looking for more hand-holding, Desjardins may be the better option. Desjardin’s automated portfolio service is a great way to let a professional take some of the guesswork out of investing.

Whichever you choose, RESPs are a great way to ensure that your child is able to access higher education without the burden of student loan debt.