THE 360 NEWSLETTER

As announced in December, Investia has introduced a new client fee of $50 which came into effect on January 1, 2022.

This single annual administrative fee (charged by SIN or corporation) is replacing the various fees associated with the administration of client accounts, such as transaction, NSF, estate and transfer out fees, which were all eliminated on January 1. For Investia nominee account holders, this $50 fee will replace the existing $100 nominee account fee in June 2024. Until then, your nominee account clients will continue to be charged $100 for the administration of their nominee accounts and will not be charged the $50 client fee.

Customizable Client Letters and Q1 Statement Insert

To help notify your clients ahead of the billing date of June 30, 2022, we have prepared a client letter which you can customize and share with your clients at your discretion, as well as a version for those advisors who elect to pay the fee for their clients. A similar version will also be included as an insert to Q1 statements which your clients will receive in April. We invite you to click on the links below to read these three letters:

Annual Administrative Fees – Upcoming Changes in 2022

Annual Administrative Fees – Upcoming Changes in 2022 (Payment by the Advisor)

Annual Administrative Fees – Q1 Statement Insert

Fee Payment Options

For nominee account holders, client fee payments will continue to be collected from the client’s nominee account as it was historically.

For client-name accounts, a few payment options will be made available:

• Withdrawal from the client’s bank account;
• Bill payment option;
• Third party digital payment platform.

Note that we will not be accepting payment by cheque from clients. More information about payment options will be provided in an upcoming communication.

Fee Collection

In order to ensure the fee collection process is as seamless as possible for you and your clients, we are working on a new form to collect the client’s consent and banking information. This will allow for collection of the fee directly from your client’s bank account. Stay tuned for upcoming issues of your 360 as this form will be made available shortly.

We are also working on a solution to capture information for those advisors who elect to pay the client administrative fee on the client’s behalf.

Investia Administrative Fee Schedule

To reflect the changes made, Investia’s existing Nominee Account Fee Schedule has been amended to include client-name accounts and the new client fee. The amended schedule replaces the previous version, as well as the schedule specific to FundEX and HollisWealth client accounts. Click here to read the new schedule, which can also be found on the Advisor Centre under Product Information / Investia Nominee Accounts.

Reminder – Client Fee FAQ

Finally, for a reminder of the particularities pertaining to the new client fee, click here to read or reread the FAQ released in the December 22, 2021 issue of your 360.

Should you have any questions about the client fee, we invite you to contact your Regional Vice-President of Sales. For more general information, please contact our Client Service Department, by email at investia@investia.ca or by phone at 1 888 684-5548.