THE 360 NEWSLETTER

As mentioned in previous communications, the Client Fee dashboard on the Advisor Centre has been updated in preparation for the collection of 2023 Client Fees. The Client Fee dashboard will be accessible to advisors on April 17, 2023.

New this year on the Dashboard:

• A new “Consent received” column has been added to the dashboard to indicate our receipt of client consent upon completion of either the NCAF or KYC Update Form (updated in March 2023). As we receive these forms at Head Office, this column will be updated to indicate when your clients’ consents have been received.
• A column for 2023 fees has been added, along with another column indicating what transpired in 2022 so that you can easily see if last year’s fees have been paid.
• You will have the opportunity to let us know if you wish to pay your clients’ fees within the dashboard no later than June 30, 2023 (no exceptions). The ability to select clients for whom you wish to pay the client fees will be locked down after June 30, 2023. Access to this functionality will be reopened in early August.

Important Reminders:

• The Client Fee dashboard is for client-name and intermediary accounts only. If you wish to pay for your clients’ nominee administrative fees this year, please email a request with a list of clients to Client Services at investia@investia.ca.
• The costs for advisors to cover the fees on behalf of their clients is $35 this year (if we are notified before June 30, 2023). If the advisor decides to waive the fee after the June 30, 2023 deadline, the charge to the advisor will be $50.00. If the advisor also wants to pay for last year’s fee if still outstanding, it will be $50 for 2022 and $35 for 2023, for a total of $85 this year. Note: If the June 30, 2023 deadline is missed and you wish to cover both the 2022 outstanding fee and 2023 fee, the total will be $100.
• For advisors who choose to waive the client fee on behalf of their clients, the commission deductions will be processed on September 14, 2023. For amounts greater than $1000.00, commission deductions will occur in equal instalments on September 14, October 12, and November 9, 2023.

Useful Resources:

For more information about the client fee process, we invite you to refer to the following materials:

• Water Cooler Replay on the Client Fee (March 16, 2023)
• Client Fee FAQ, also available on the Advisor Centre under Communications / Client Fee 

 Should you have any questions, please do not hesitate to contact your Compliance Officer.