THE 360 NEWSLETTER
Following last week’s communication, we would like to remind you that we will be processing Investia’s Client Administrative Fees on August 11, 2023* for eligible clients:
- who have provided consent up to and including August 10, 2023;
- whose highest market value and lowest cost funds are held in one of our fund company partners (Fidelity, Mackenzie, CI, Dynamic, Invesco, iA Clarington, TD, CIBC or Manulife); and
- where the Representative has indicated that they are not paying the fee on behalf of the client.
* Except for clients having fees taken from Dynamic, iA Clarington, CIBC, Manulife and Invesco funds. For these clients, processing will occur on September 1, 2023.
Note that some fund companies will be sending out transaction confirmations to that effect.
Once these fees have been processed and reconciled, we will determine which eligible clients have provided consent and have valid banking information on file for whom the fee was not collected through our fund company partners, and we will be pulling the fees from these clients’ bank accounts. We anticipate this being sometime in September, but we will communicate the exact date as we get closer to it.
As previously communicated in our Client Fee FAQ, below are some important reminders:
- For Representative who have chosen to pay the fee on behalf of their clients, the commission deductions will be processed on September 14, 2023.
- For amounts greater than $1,000, commission deductions will occur in equal instalments on:
- September 14, 2023
- October 12, 2023
- November 9, 2023
Should you have any questions, please do not hesitate to contact our Client Services Department, by email at investia@investia.ca, by phone at 1-888-684-5548, or by using the chatbot feature on the Advisor Centre.