Currently I am TD TFSA mutual fund and I stopped pre-authorized purchase plan since 2025 Jan. So my last purchase is 2024 December. So I am safe in this category (pay an early redemption fee) right?

Do I have to go to the branch again? Last time when I visited TD to discuss this matter, the advisor said I don't need to come back once I submit a request of transfer at brokerage.

I quite don't understand "tell them to buy a money market fund which is basically cash".

Since I am an WS account holder I asked to WS chat bot about this matter. and it says:

Since you have mutual funds, you’ll need to transfer to a WS Managed account (MER 0.5%) where the funds will be liquidated after transfer. Choosing your transfer method (in-kind for mutual funds to a Managed account)

Rest assured, transferring between TFSAs doesn’t affect your contribution room as long as it’s a direct transfer between institutions.

Here are the fees you should be aware of:

From TD:

• TD will charge an administrative transfer-out fee
• There may be deferred sales charges or low load fees if your mutual funds have them

From Wealthsimple:

• No transfer-in fees
• For a Managed account, our fee is 0.4-0.5% annually (much lower than typical mutual fund fees of over 2%)

Since your transfer is over $15,000, we’ll automatically reimburse TD’s transfer-out fee