Embark RESPs For Canadians

Embark Overview

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Embark is a leading Canadian education savings and planning company, specializing in Registered Education Savings Plans (RESPs). With over 60 years of experience, Embark has helped more than 1.2 million families save for their children’s post-secondary education.

As Canada’s largest RESP provider, Embark manages over $6.4 billion in assets and has paid out $8.2 billion to students pursuing higher education.

Owned by a not-for-profit organization, Embark is dedicated to helping students realize their full potential by simplifying the savings process with innovative tools, expert advice, and flexible RESP plans.

Embark features

The Embark Student Plan is the main product Embark offers. It’s an RESP that grows with your child over time. The plan changes how it invests your money based on your child’s age.

When your child is young, it focuses on growth. As they get closer to college or university, the plan becomes more careful with your savings. This helps protect the money you’ve saved up for their education.

You can add money to your plan whenever you want, and there’s no minimum amount you need to put in. Alternatively, you can set up regular payments or add lump sums when you have extra money.

If you have more than one child, there’s also a family plan to share the savings among your kids based on their school needs.

Embark works hard to help you get all the government grants you can. This includes the Canada Education Savings Grant (CESG) and grants from your province.

They also have a really good online platform that makes it easy to manage your savings. You can check your account, add money, and make changes whenever you want, from anywhere.

There’s also a handy calculator that helps you figure out how much you might save based on several factors. Things like how much you put in at the start, how much you add each month, and how well your investments might do.

Furthermore, there’s also a tool to help you figure out how much school might cost and plan how to save for it.

Embark knows that saving for education can be confusing. That is why they have specialists whom they refer to as education savings specialists. These people can give you an individual consultation and indicate how it is possible to create a sound savings plan.

Embark also has a learning centre on its website. Here, you can learn much about RESPs, government grants, and what to do if you want to withdraw money from your plan if education time is coming.

Moreover, it is important to state that Embark itself is an organization that is managed by a non-profit foundation. This means that the cash students make is reinvested in helping students.

Through their foundation, they have provided close to $57 million in supplementary funding to students across the country.

For companies that want to help their workers save for their kids’ education, Embark offers special RESP plans. This is a nice benefit that companies can give to their employees. It shows that they care about their workers’ families and future.

Services

RESP Plans (Embark Student Plan)
Education Savings Planning
RESP Management
Corporate RESP Solutions
Educational Resources and Tools

Service Areas

Alberta, British Columbia, Canada, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Online, Ontario, Prince Edward Island, Quebec, Saskatchewan, Yukon

Services

Investment

Year in Business

Since 1965

Industry

Finance

Languages

English

FAQs about Embark

What is Embark?

Embark is Canada’s largest RESP provider, specializing in education savings and planning for families. They offer tailored RESP plans to help parents save for their children’s post-secondary education. With over 50 years of experience, Embark manages billions in assets and has helped over 1.2 million families.

How does the Embark Student Plan work?

The Embark Student Plan is a group RESP customized for your child having the option of rebalancing investment based on the age of the child. It is started from the growth mentality, and gradually turns more cautious as your child is nearing the post-secondary education level. You can contribute freely and the plan is designed to received as many governmental aids as possible.

What are the fees associated with Embark's RESP?

Embark’s Student Plan has a management expense ratio (MER) of 1.65% per year, plus applicable taxes. This means you pay $16.50 annually for every $1,000 invested in the plan. The fees cover plan management, investments, and administration costs to ensure your RESP grows effectively.

Can I transfer an existing RESP to Embark?

Yes, you can transfer existing RESPs to Embark, though they do provide certain bonuses for transferring to them. They give an additional $100 for every $10,000 you transfer to an Embark Student Plan. This transfer offer is specific to certain terms and conditions; however, one can ask for more details through an Embark specialist.

How do I open an RESP account with Embark?

Opening an Embark Student Plan is quick and can be done online in about 10 minutes. You can use their digital platform to set up your account from the comfort of your home. Alternatively, you can schedule an appointment with an Embark Education Savings Specialist for personalized guidance throughout the process.

What government grants does Embark help me access?

Embark can help you access a range of government grants in order to increase your amount of educational savings. Among these scholarships are the Canada Education Savings Grant (CESG), and the Additional Canada Education Savings Grant (A-CESG). They also help out with the CLB and any grants that are available for students in your province so you get to save as much money as possible.