MD Management

[UBCstu]

hi im just about to graduate from med school and was wondering if itd be worth my while to change banks to md management? if anyone with personal experience could share in what ways this could be beneficial (or not), id really appreciate it. thanks.

[future_doc]

You mean BN, the bank they recommend. BN and Royal Bank are great banks with small diffferences. It all depends if you are happy or not with your present bank. I don't think there is any particuar advantage one way or the other. If you need more than 200k, you will be able to get it with BN but that is likely true with the others, as they compete and want your business.

[Der Kaiser]

MD management has a bank? Anyway, MD management's mutual fund is not very good. Only 2% return over last ten years, plus high user fees. Doctors buy into it usually because they do not know any better. This is only what I've heard though, so you might want to look into it yourself.

[future_doc]

MD management has a bank?

 

NO. They refer their clients to the same bank, i.e., they recommend that their clients go to one particular bank.

[naspec]

NO. They refer their clients to the same bank, i.e., they recommend that their clients go to one particular bank.

 

FYI. Medical students know them as one of the potential candidates for a line of credit. They do seem to have dedicated staff to serve our needs, kind of like a front end to National Bank.

[future_doc]

We are saying precisely the same thing. BTW, BN won't let you take out more than budgeted, which is a good thing (contrary to the practice of some).

[orange123]

We are saying precisely the same thing. BTW, BN won't let you take out more than budgeted, which is a good thing (contrary to the practice of some).

 

What bank is BN?

[koft]

MD management has a bank? Anyway, MD management's mutual fund is not very good. Only 2% return over last ten years, plus high user fees. Doctors buy into it usually because they do not know any better. This is only what I've heard though, so you might want to look into it yourself.

 

Which fund are you exactly talking about? Fixed income, bond, or equity type fund? Their MER is on par with most MFs in the market, except if you are talking about advisor's type fund out there.

 

As BN??, MDM Line of credit is from National Bank.

[future_doc]

BN = Bank National, the excellent bank recommended by MD Management