Clients can request to have their 10% free and mature units automatically converted into 0% front-end load funds at the end of the year. Below are important reminders pertaining to this process:
Investia nominee accounts
For all clients who enrolled in the automatic conversion of free units in nominee accounts in 2024 or in previous years, the conversion will be completed with a trade date of January 31, 2025.
Important reminders:
- If the client’s KYC is not up to date, the automatic conversation of free units will not be processed.
- Once the request is transmitted and the information is added to Univeris, do not return the form in subsequent years.
- It is up to the fund company to accept or reject the transaction, depending on whether the fund contains mature units or for any other reasons they might have.
Client-name accounts:
- Form completion: The client must complete an “Automatic Conversion of Free Units” form (F51-251A).
- Submission: The Representative must send the completed form to the applicable fund company for processing and send a copy to Imaging for dealer records.
- Annual signature requirement: Some fund companies (e.g., Fidelity) require this form to be signed by the client each year. It is the Representative’s responsibility to verify this requirement with each fund company annually.
Unit conversion forms can be found in Univeris under the “Generate Forms” section of the Task Menu.
Should you require any information, please 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.
