THE 360 NEWSLETTER

Below is important information related to the billing of administrative fees pertaining to Investia nominee accounts. Please note that all previous communications related to administrative fee billing are no longer valid.

Billing Period
The period covered by the fees is from January 1 to December 31, 2023. Fees will be charged to all clients with assets in their Investia nominee accounts on June 30, 2023 during the period between July 7 and 14, 2023.

Fee Exemptions on June 30, 2023

1. Fees will be waived for clients with $25,000 or more in IA Clarington Funds (including IA Clarington (“IAC”) segregated funds and IA Clarington exchange traded funds (“ETF”)).
2. Fees will be waived for clients with $25,000 or more in IA segregated funds (“INA”) in their nominee account.
3. Fees will also be waived for clients with only IA Clarington funds and/or IA segregated funds in their portfolios on June 30.
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. Fee will be waived for all accounts which include only GICs and/or ETF.
6. Representatives with an Investia nominee account registered in their name will also be exempt from paying annual administrative fees.

To take advantage of 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, 2023. Any such trades settled after June 30 will not be taken into consideration and will result in your client paying annual administrative fees.

Notes

• Upon request, during the first week of June 2023, Investia will provide you with a list of clients subject to annual administrative fee billing upon request. 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, 2023. To receive this list, please send a request to our Client Services Team at the latest by May 26, 2023.

• The Client Fee Dashboard is not to be used to indicate whether a Representative wishes to pay for the Nominee Trustee Fee.  Also, indication on the Client Fee Dashboard showing “Ineligible” with a $0.00 does not mean that clients are exempt from paying the Nominee Trustee Fee.

In order to apply all the applicable fee exemptions, we remind you that the “Trustee Fees – Client Exempt” boxes under the Client and/or Plan Details sections 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:

1. Other redemption: 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 and deposited to the cash account no later than June 23, 2023 to avoid processing delays.
2. Electronic funds transfer (“EFT”): Simply have the client complete his or her EFT no later than June 23, 2023.
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 23, 2023.

Note:  If fees are to be paid 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 Chart
The 2023 Administrative Fee Schedule may be found on the Advisor Centre under Product Information / Nominee Accounts / Investia Nominee Fee Schedule. Note that this chart, updated on January 1, 2022, is applicable to all types of nominee accounts.

Calendar of Important Dates
As complementary information, we invite you to refer to the document below:

Calendar of Important Dates – 2023 Administrative Fees