THE 360 NEWSLETTER

Below is a reminder of important information related to the billing of administrative fees pertaining to Investia nominee accounts.

Billing Period

The period covered by the fees is from January 1 to December 31, 2022. Fees will be charged to all clients with assets in their Investia nominee accounts on June 30, 2022 and taken from clients’ accounts during the period between July 14 and 21, 2022.

Fee Exemptions on June 30, 2022

1. Fees will be waived for clients with $25,000 or more in IA Clarington Funds (including IA Clarington segregated funds and IA Clarington ETFs).
2. Fees will be waived for clients with $25,000 or more in IA segregated funds (INA) in their Investia nominee account.
3. Fees will also be waived for clients with only IA Clarington Funds and/or IA segregated funds in their portfolios.
4. Clients who opened an Investia non-registered nominee account for the sole purpose of making electronic transfers to a client-name account for cash account purposes will also be exempt from paying annual fees.
5. Fees will be waived if all the assets in the account are held only in the following products:
   • Guaranteed investment certificates (GIC) only;
   • GICs and high interest savings accounts (HISA);
   • GICs and money market funds;
   • Exchange traded funds (ETF) only.
6. Finally, Representatives with an Investia nominee account registered in their name will also be exempt from paying annual administrative fees.

To benefit from the fee waiver, please note that transfers of assets from one fund company to IA Clarington Funds (CCM) and/or IA segregated funds must be processed and settled by June 30, 2022. Trades settled after June 30 will not be taken into consideration and will result in your client paying annual administrative fees.

Note: Upon request, in the next few days, Investia will be able to provide you with a list of clients subject to annual administrative fee billing upon. Note, however, that this will not be an exhaustive list due to the fact that fees are calculated based on clients who qualify for an exemption on June 30, 2022.

Note also that clients who only held client-name accounts in 2021 but converted their accounts to nominee accounts in 2022 will pay a $50 administrative fee in 2022. For more details about the new client fee, please click here to read the FAQ document, which can also be found on the Advisor Centre homepage.

In order to apply all the fee exemptions, we remind you that the information in the “Trustee Fees – Client Exempt” section under the Client and/or Plan Details will not be taken into consideration in the fee generation process.

Terms and Payment Options

Annual administrative fees will automatically be taken from your clients’ cash accounts. No action is required on your part. If the client’s cash account balance is insufficient to cover the fees, fees will be redeemed from the fund with the highest market value and most advantageous fee structure in the client’s account.

Below are other terms of payment available. Note that deadlines have been extended from June 24 to June 30 for added convenience.

1. Other redemption chosen by the client: Your clients may also redeem the fund of their choosing to pay for their annual administrative fees. If your client chooses this option, we recommend that funds be redeemed no later than June 30, 2022 and deposited to the cash account to avoid processing delays.
2. Electronic funds transfer (“EFT”): Simply have the client complete his or her EFT no later than June 30, 2022.
3. Deductions from your commissions: Please send a request to investia@investia.ca, along with a list of your impacted clients, in Excel format, while ensuring to include your clients’ names and IDs and applicable rep code, no later than June 30, 2022.

Note: If the client wishes to pay the fees from a cash account where fee-based fees are currently taken, please ensure that the client’s cash account balance is sufficient to cover all the fees.

Fee Schedule

The 2022 Administrative Fee Schedule can be found on the Investia website home page (click here to see the fee schedule). It is important to note that this chart which was updated on January 1, 2022,  is applicable to all types of nominee accounts.

Calendar of Important Dates

As complementary information, we invite you to click here to view a calendar of important dates to remember.

Should you require additional information, please contact our Client Service Department by email at investia@investia.ca or by phone at 1 888 684-5548.