Since the beginning of the year, we have noticed an increase in the number of cases of insufficient funds in clients’ AWDs.
As a reminder, the Advisor Centre Dashboard allows you to monitor your AWDs to ensure you know the number of days left to request changes to ensure the next payment is made for the right amount.
All new AWD setup requests and updates to existing AWDs must be submitted to head office for processing at least 10 working days before the payment date.
If no action is taken by the Representative, client payments will not be made in a timely manner, or they will be lower than expected. In such cases, it is your responsibility to proceed with a manual redemption and fax/upload a change request form to head office (“Processing” option) before the next payment date.
We would like to take this opportunity to remind you that Representatives are responsible for ensuring that their clients’ unit fund balances are always sufficient to allow for the scheduled systematic payments.
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Useful resource Administrative Procedure #34A – Automatic Withdrawal Deposit (AWD) – Investia Nominee Accounts |
Should you have any questions or require additional information, 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.