As a follow-up to the June 27, 2024 communication, we remind you that effective August 28, 2024, Head Office will no longer manually adjust your clients’ AWDs in the event of insufficient funds. This applies to the payment cycle of September 5, 2024 as well as all subsequent AWDs.

If no action is taken by the Representative, the client payment could be missed or could be less than expected. In this situation, it would be your responsibility to process a manual redemption and to fax/upload a change request to Head Office (“Processing” option) prior to the next payment date.

We remind you that Representatives are responsible for ensuring that the unit balance within a particular fund is always sufficient to allow the scheduled systematic payment to be made.  

Important considerations

• All new AWD requests and updates to existing AWD need to be submitted to “Processing” 10 business days prior to the payment date.
  
  
• The Dashboard on the Advisor Center allows you to monitor your AWDs to ensure all funds have a sufficient unit balance before the redemptions are launched. In addition, the Dashboard shows you the number of days remaining for you to submit any required changes to ensure the next payment is processed for the correct amount. 

Useful reference
Administrative Procedure #34A – Automatic Withdrawal Deposits (AWD) – Investia Nominee Accounts. Note that this procedure will amended by August 28 to reflect this change.

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.