As you may already know, clients may request to have their 10% free and mature units automatically switched into 0% front-end load funds at the end of the year. Below is a reminder of the procedure to request this for your client based on the type of account:
Investia Nominee Accounts
- The client must complete an “Automatic Conversion of Free Units – Investia Nominee Accounts” form (F51-250A), and the representative must send it to Investia Head Office for processing.
- The form only has to be signed once in order to enable the automatic conversion each year by Investia. Note that unit conversion will be completed on January 30, 2024, after 4 p.m. (trade date: January 31, 2024), for clients who have subscribed to the conversion program in 2023.
Note that the automatic conversion of units will not be performed for clients whose KYCs are not up to date.
Client-Name Accounts
- The client must complete an “Automatic Conversion of Free Units” form (F51-251A), and the representative must send it to the applicable fund company for processing.
- Note that some fund companies require that this form be signed by the client each year (e.g., Fidelity). Therefore, and as mentioned on the conversion form (see below), it is the representative’s responsibility to verify with each fund company to determine if a new form must be provided on an annual basis.
The two Automatic Conversion of Units forms may be found in Univeris under the “Generate Forms” section of the Task Menu.
Should you require any information, please do not hesitate to contact our Client Service Department, by email at investia@investia.ca, by phone at 1 888 684-5548 or via the chatbot feature on the Advisor Centre.