New annual account statements coming

Here’s what the new documents will look like

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Online only.

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The Canadian Securities Administrators (CSA) is phasing in new rules regarding how your adviser communicates fund and compensation details with you. Under the  Client Relationship Model Phase 2 (CRM2), advisers will have to provide annual cost and performance reports starting July 15, 2016.

We’ve highlighted some of the key features in red for each of the example annual reports:

And for a virtual tour of the new Fund Facts document that advisers must provide within two days of purchase of a security, visit Get Smarter About Money.

READ: New transparency rules for financial advisers coming »

One comment on “New annual account statements coming

  1. The one thing that hurts us all is the way we pay the monthly charges for, let’s say, a GIF or Tax taken off a RIFF you are receiving, is that they take the charges in units from your fund. This means you also lose the increases of the fund for those units in the future. We should be able to up a cash account to pay for the fees when due.


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