As a reminder, the Canadian Union of Postal Workers (CUPW) has recently declared a nationwide strike.
Canada Post has advised that mail and parcels won’t be processed or delivered for the duration of the strike, and some post offices will be closed. Service guarantees are suspended for items already in the postal network and no new items will be accepted until the national disruption is over.
As such, we would like to provide the following guidelines and reminders:
Registration on the Client Portal and e-delivery
Encourage your clients who haven’t yet registered for the Client Portal to sign up and opt for e-delivery whenever possible, ensuring timely access to their quarterly statements. This is particularly important for the September 30 statement, which may be impacted by the strike. As a reminder, clients can update their document delivery preferences on the portal at any time.
Alternatives to cheques
With the industry’s shift away from cheques, we would like to remind you of the benefits of electronic fund transfers (EFTs) for your clients:
- Faster processing and quicker payment
- Reduced risk of error, eliminating misplaced cheques
- Reduced off-market exposure of funds
- Enhanced protection of personal information
Important
- Banking information – Please ensure valid and up-to-date banking information is on file before setting up an EFT.
- Cheque processing delays – Be aware that a strike could result in delays at fund companies.
- Transfers between fund companies – To mitigate delays, process fund company transfers as “in-cash transfers” when possible. See the procedure below for more information.
- Courier services will be reserved for exceptional circumstances only. Please anticipate delays due to increased demand during the potential strike.
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Additional information |
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 by using the chatbot available in the Advisor Centre.
