THE 360 NEWSLETTER

We would like to remind you of some important information related to administrative fees for Investia nominee accounts.

Billing Period

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

Terms and Payment Options

Annual administrative fees will automatically be taken from your clients’ cash account. 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.

As a reminder, 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 redemptions be processed with the proceeds deposited to the cash account (CCA) by 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 (Excel format if possible), 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.

Intermediary Account Transfer Program

If your client has taken advantage of the Intermediary Account Transfer Program and Investia has covered the transfer fees through this program, we remind you that in addition to the annual administrative fee (Investia nominee trustee fee), the participation in the Intermediary Account Transfer Program comes with an additional fee to the client for the next five (5) years. The fee amount depends on the number of accounts that the client has transferred (excluding TFSA accounts), as follows:

Intermediary Account Transfer Program Fee:

All amounts are subject to tax.

The Intermediary Account Transfer Program fee is charged in the client’s account as a Trustee Fee. Therefore, a client who transferred an intermediary account to an Investia nominee account will see an additional $50 on his or her trustee fee. If the client has transferred 2 intermediary accounts, an additional $100 will be applied, and $150 if 3 accounts have been transferred. These fees will be included in a total fee called “Trustee Fee”.

Client Fee

At the same time, if a client has a 2022 outstanding client fee, the $50 fee will also be added to the amount of the Investia nominee trustee fee charged for 2023.

Example:

The client had one client-name TFSA in 2022 and two intermediary accounts (an RRSP and a LIRA). All the accounts were transferred to an Investia nominee account in 2022 (using the Intermediary Account Transfer Program) and the 2022 client fee has not been paid yet.

In this case, the client will be charged:

• The regular Nominee Trustee Fee (unless he or she is eligible for the exemption because holding $25K in CCM products) = $100
• The Intermediary Account Transfer Program fee: 2 plans = $100/year
• The outstanding Client Fee from 2022 = $50
• The Trustee Fee for 2023 will be $250

Should you have any questions, please contact our Client Services Team, by email at investia@investia.ca, by phone at 1-888-684-5548, or use the chatbot feature available on the Advisor Centre.