So I recently graduated with no debt (yippee)

Great work.

Can anyone give some guidance here? If it's alright to keep the money there, if it's just a terrible idea that should be undone immediately, etc.

Thankfully you are catching on to the idea of management fees now and not 20 years down the road when the damage has already been done.

You mention e-Series which to me is a great option for any non-pro investor. I'm not certain if BMO has an option like e-Series so you may want to ask.

Just a few quick points come to mind: Always be careful before setting up or selling mutual funds to ensure they don't carry any major sales charges, especially if they are back-end loaded or have deferred sales charges. Regardless you'll likely pay a small fee to transfer your funds to another institution, maybe $50.

More info on sales charges here: http://www.getsmarteraboutmoney.ca/en/managing-your-money/investing/mutual-funds-and-segregated-funds/Pages/Mutual-fund-fees.aspx#.VompnBUrIuU

Second, I have a bias to TD because I like the benefit of brick & mortar service and I like TD's WebBroker & Waterhouse interfaces over a few others I've used including CIBC, Tangerine, and RBC.

Third, an anecdote, but many in this sub have had issues setting up their e-Series accounts. I know, because it happened to me a few years ago. I phoned them first and told them I wanted to buy e-Series funds but they insisted I must visit the branch. The sales rep at the branch said if I wanted e-Series then why didn't I do it over the phone. At the end of the day, it wasn't a big deal, but there seemed to be some issue with their phone reps not being able to setup the e-Series account over the phone, hopefully you don't run into the same issue.

Finally, I'm not sure where you read about e-Series but I like CCP's model portfolio that makes recommendations on the funds: http://canadiancouchpotato.com/wp-content/uploads/2015/01/CCP-Model-Portfolios-TD-e-Series.pdf