There are many reasons you might want to close a Goal. Whatever the reason, we want to make it easy for you to withdraw your funds should you need it.
In order to close an investing goal that you made on your profile, you need to:
- First, cancel any scheduled deposits and withdrawals, and/or allow for any pending deposits and withdrawals to complete. To do so, follow these steps:
- Go to the “Goals” tab
- Click on your Goal
- To cancel any scheduled deposits and withdrawals, scroll down and click on your next scheduled transfer(s), and click “Cancel Investment”. Confirm that you would like to cancel this auto-investment.
- To review your pending deposits and withdrawals, return to the main page of your goal, scroll to the bottom to view your “Investment Activity”, and click “View all”. For pending deposits, please allow 1-2 business days for processing (note: we cannot cancel or reverse deposits). For pending withdrawals, please allow 2-3 business days for processing.
- Second, withdraw all funds from the portfolio(s) within your goal. To do so, follow these steps:
- Go to the “Goals” tab
- Click on your Goal
- Click “Withdraw” on the right hand side of your screen
- Select the portfolio(s) that is associated with your goal (if you have more than one portfolio, you need to withdraw all your funds from all of your portfolios)
- Enter the amount that you would like to withdraw (note: withdrawing 90% or more of your funds in a goal will trigger a full withdrawal)
- Choose your reason for withdrawal
- Confirm the bank account you’d like the funds to be sent to
- Review and confirm your withdrawal
- Lastly, close the associated portfolio(s) within your goal. To do so, follow these steps:
- Go to the “Goals” tab
- Click on your Goal
- Scroll down to “Your portfolios”
- Click on your portfolio(s) (see screenshot for an example, “TFSA - Core” portfolio)
- Click the three dots on the top right of your screen
- Click “Close this portfolio” (you need to complete steps 1-2 first; otherwise, you will get an error message at this stage)
Please note that there are withholding taxes (RRSP) and/or admin charges related to de-registering certain types of accounts. Be sure to review these before initiating any closures.
If you close all goals within a type of account (for example, all goals within your TFSA) that account will also be closed. Should you wish to re-open it in the future, you will need to proceed through the full sign-up process for that account again, including re-signing any agreements necessary.
If you run into any issues, please feel free to reach out to the OneVest Support Team, where a team member will be happy to help you.
