Becoming a Client

I want to become a client of QVO VADIS Investment Management (QVIM). What is required?
To be eligible, your household must have at least 25,000 CAD to invest with no less than 5,000 CAD to be allocated to any single account. You (or your business for corporate accounts) must be a resident of either Ontario or Quebec, Canada. The Canadian government requires us to verify the identity of all clients as part of the government's effort to combat terrorist financing and money laundering. Acceptable photo ID: current passport or driver's license. The new client process involves four easy steps (explained below).
Who can become a client of QVIM?
In order to be eligible, you must be a resident of the provinces of Ontario or Quebec, Canada. Currently, QVIM is licensed to do business in these provinces. If you are a resident of another province or territory, please call or .
Please explain the new client process?

The staff of QVIM will do all the legwork for the new client to ensure a fast and stress-free transition. This process involves four easy steps:

1) NBIN Inc. (National Bank Independent Network, or "NBIN") account forms are completed

2) client question/answer session to determine financial needs, objectives and risk tolerances. This constitutes the Investment Policy Statement (IPS)

3) client review of the Investment Management Agreement (IMA)

4) Identity verification (photo ID) and signatures

Once these four steps have been completed and the NBIN account(s) have been opened, investment assets can be transferred in or funds can be deposited. From this point forward, QVIM will handle all day-to-day investment decisions and changes on behalf of the client.

I do all my banking at a Canadian bank. Unfortunately, it is not National Bank of Canada. Can I still become a client?
Absolutely. With respect to banking, you can continue to bank at any recognized financial institution of your choosing. An Electronic Funds Transfer (EFT) can be set up between your current bank account and your NBIN account in order to move funds efficiently and quickly. This service is provided to our clients free of charge. Funds can also be deposited at any National Bank retail location. All fund withdrawal requests from your investment accounts must be coordinated through QVIM.
Can QVIM refuse to take me on as a new client or "fire" me if I am an existing client?

The short answer is yes. QVIM does have the right to refuse a new client or terminate an existing client relationship. Investment management can be viewed as a partnership between the client and the portfolio manager. The client must be prepared to commit their time to providing QVIM with truthful information that is considered critical to the process on an on-going basis. Security commissions require investment managers to "know their clients" as well as protect capital markets from fraud, terrorist financing and money-laundering.

QVIM can also refuse a client if their expectations are not realistic. Given a client's needs, objectives and risk tolerances, QVIM has a fiduciary duty towards the client. QVIM will turn down a prospective client if they insist on unsuitable investments.

Historically, I have done all my "investing" at my local bank branch. Why then would I want to become a client of QVIM?

Convenience always come at a cost. Although it might be very convenient to invest at your local bank branch, you are most likely invested in mutual funds. A mutual fund salesperson at the branch is in the business of selling mutual funds in return for a commission. Depending on the mutual funds, this commission can easily represent between 4% and 6% of the sale. This commission is also separate from the additional 2% to 3.5% charged by the fund company as a management expense ratio (MER). Of course, there is no guarantee that a mutual fund will rise in value either.

By becoming a client of QVIM, you recognize that you have hired true investment professionals that meet the highest registration standards. You also gain the ability to access the stock and bond markets directly. In general, investment management fees charged by QVIM will be significantly less than those charged by mutual fund salespeople. Depending on the portfolio mandate, our fees range from 0.75% to 2% of assets managed and appear on every monthly statement, so you will always know exactly what you are being charged. QVIM can do this, because we have removed all the "financial middle-men". Finally, our fees on non-registered accounts are also tax-deductible. For a complete discussion of fees, please review our brochure What does Investing Cost You?

How often will I get to meet with the staff of QVIM in order to review my accounts?

Client account reviews can be done in person, over the phone or even over the internet. The frequency of these reviews depends mostly on the portfolio mandate. For instance, aggressive portfolios should be reviewed more frequently. At a minimum, client account reviews must be done once a year. However, reviews can also take place semi-annually or even quarterly.

Anytime a client experiences a material change to their profile, a review should be performed. Some examples of material changes would be: change or loss of employment, birth of a new child, loss of a spouse, retirement, etc.. Call or if you are unsure whether a recent event necessitates a review of your accounts.

I do not have a lot saved for investing but am very close to meeting the household minimum. How can QVIM help me become a client?
We recognize that not everyone may have the $25,000 household minimum to begin investing right away. We want to help our clients work towards building their nest egg. The easiest way to save is to do so automatically. With a monthly contribution plan, NBIN will arrange to automatically deduct regular contributions from your bank account as instruction for deposit to your NBIN account(s).
What does QVO VADIS mean?
QVO VADIS is latin for "Where are you going?" In an investment context, we ask a similar question: "Where is your portfolio going?"