Just stumbled upon this. We were suckered in by this. We weren't working with any particular financial advisor or anything, but when we started to he slumped down in his chair when we told him we had a Heritage Fund RESP. He helped us get out, and we lost a bit but when we started we weren't able to put in a lot and didn't lose too much, but enough to be really upset.
We told my wife's sister and she looked into it. She later called us back and got mad at us for telling her that it was a terrible plan and she said we were dumb for leaving it... in other words, she called the rep, who was the same one we used, and she fell for his spiel.
I can't recall exactly how it worked but because we transferred it to a different plan we didn't lose as much has we could have? Or at least we didn't lose as much as we feared. That was about a decade ago now, my memory is muddy on the details.
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