A Simplified and Consolidated View of Your Assets
FundEX offers an extensive range of nominee plans that allow clients to combine their assets for a given account type thereby accommodating a simplified administration process and global view of their investments. A global view simplifies the decision making process for the client and the advisor. Several accounts of the same type, for example Registered Retirement Savings Plans, at various fund companies, can be consolidated into one nominee Registered Retirement Savings Plan. The same can be accomplished for Registered Retirement Income Fund accounts or several Tax Free Savings Accounts. Imagine one tax receipt from one source instead of several from various fund companies, faster turnaround of your trading instructions, seamless access to your assets based on your verbal instructions, and electronic transfer to your nominee plan from your on-line banking institution 24/7. Now, that’s convenience!
Fee For Service Program (FFS)
FundEX’s FFS program allows clients and their advisors to establish a set fee for the services and valuable financial advice that is provided by advisors. Opening an FFS account is as simple as the advisor and client completing an addendum to the FundEX Nominee Account Form. The addendum is entitled Fee for Service Agreement. Some key components of the FFS program include:
- Investment in “F” Series of funds available by most fund companies
- Clients can either purchase or transition to No Load F-Class funds within a FundEX Nominee Account
- Fees are withdrawn from existing holdings or from the client’s bank account and paid to the advisor
FundEX offers very competitive nominee account fees. A single annual trustee fee is charged regardless of the number of nominee accounts held. In addition, IA Clarington Relationship pricing will grant an exemption from paying the annual trustee fee if a client holds a minimum of $25,000 book value in IA Clarington mutual funds. The IA Clarington Relationship pricing applies to regular or Fee for Service nominee accounts. For more information on FundEX nominee account fees, please refer to the FundEX Nominee Administrative Fee Guide.
Nominee Administrative Fee Guide
For a copy of our nominee fee schedule, please click HERE
Interest on Nominee Cash
The interest rate payable on the nominee cash account (excluding cash for transaction settlement) is the Bank of Canada's prime business rate less 5.0%. Daily rates are available on the Bank of Canada's website.