UBCstu Posted January 20, 2011 Report Share Posted January 20, 2011 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. Link to comment Share on other sites More sharing options...
future_doc Posted January 20, 2011 Report Share Posted January 20, 2011 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. Link to comment Share on other sites More sharing options...
Der Kaiser Posted January 21, 2011 Report Share Posted January 21, 2011 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. Link to comment Share on other sites More sharing options...
future_doc Posted January 21, 2011 Report Share Posted January 21, 2011 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. Link to comment Share on other sites More sharing options...
naspec Posted January 21, 2011 Report Share Posted January 21, 2011 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. Link to comment Share on other sites More sharing options...
future_doc Posted January 22, 2011 Report Share Posted January 22, 2011 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). Link to comment Share on other sites More sharing options...
orange123 Posted January 29, 2011 Report Share Posted January 29, 2011 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? Link to comment Share on other sites More sharing options...
koft Posted January 29, 2011 Report Share Posted January 29, 2011 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. Link to comment Share on other sites More sharing options...
future_doc Posted January 29, 2011 Report Share Posted January 29, 2011 BN = Bank National, the excellent bank recommended by MD Management Link to comment Share on other sites More sharing options...
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