Accounts

How often will I receive account statements?
You will receive two sets of statements: those from NBIN Inc. (National Bank Independent Network, or "NBIN"), and those from QVO VADIS Investment Management (QVIM). You will receive NBIN statements monthly whereas QVIM statements are issued quarterly. QVIM is required under securities legislation to deliver a statement to a client at least quarterly.
How do you define an account (custodial)?
Unless otherwise specified, the word "account" refers to the custodial account where your assets are held. All accounts are held at NBIN and can contain an entire host of financial securities as well as cash. A QVIM client can have one or more accounts. Clients will commonly have a registered account such as an RRSP account (tax deferred) a TFSA account (Tax Free Savings Account) and a non-registered account where income and capital gains are taxable.
How do you define a household?

A household consists of one or more clients. Usually clients in a household will live at the same postal address but this is not a requirement. For instance, children may move away to attend University, yet they are still part of the same household as their parents. Each client can have one or more accounts. The concept of a household is important for a variety of reasons:

- Parents will want to administer accounts for their children under the age of 18

- Spousal and/or RESP contributions (Registered Education Savings Plan)

- Power of attorney situations to help administer the affairs of a dependent that is elderly or disabled

What type of accounts (custodial) can I open?

As a client you have a whole host of account types to choose from. We will be happy to help you assess your account needs:

Personal Accounts include registered and non-registered accounts

Non-Personal Accounts include accounts for businesses, trusts and estates

Please describe each of the registered accounts (custodial) I can open:

RRSP and Spousal RRSP(Registered Savings Plan) if you are looking to shelter from taxes your choice of eligible investments, including mortgages

RRIF and Spousal RRIF (Registered Income Fund) are used to roll savings from your RSP into your RIF account later on in retirement

TFSA (Tax Free Savings Account) at any stage of your life and enjoy the benefits of tax-free income with the flexibility to withdraw your money at any time for any purpose

RESP (Registered Education Savings Plan) open a RESP if you want to accumulate tax-free investment income while saving for your child's education

RDSP (Registered Disability Savings Plan) to grow savings in a tax-deferred environment if you or someone you’re caring for has a disability

Locked-in accounts such as LIRA and LRIF are used when you have had employer related RSP contributions or employer sponsored pension plan

Why is there a minimum per account (custodial)?
There are fees associated with execution of trades and it is difficult to justify these fees for security positions below a certain dollar value. Furthermore, certain investment mandates will require a certain level of diversification. This can be difficult to accomplish without an account minimum.
How do I access my account (custodial) information?

As a QVIM client, you can access a number of on-line documents (including copies of your NBIN monthly statements) from the QVIM Secure Client Website. In addition to on-line access, you will always receive a mailed monthly statement (hardcopy) sent to you directly from NBIN.

In order to protect QVIM's proprietary investment methods, clients will have monthly viewing capabilities online only. If daily account balances are acceptable, please ask us about this feature during your client interview.

Once I give trading authority to QVIM to make day-to-day investment decisions on my behalf, can I still trade in my accounts (custodial)?
No. QVIM will have sole authority to buy and sell on your behalf. Trading authority is granted as soon as the investment management agreement (IMA) has been signed. This is not to be confused with cash deposits and withdrawals since only the client is authorized to make deposits and issue a withdrawal request.
I have reviewed my monthly NBIN statement and have a question. Who should I call?
QVIM's client service managers (CSMs) are ready to assist and answer all of your questions.
Can I deposit and withdraw funds from my accounts (custodial)?
Yes. As a QVIM client, you benefit from a brand that is recognized and trusted in banking in Canada: National Bank of Canada. You have the ability to make deposits directly to your investment accounts at any National Bank of Canada branch. A National Bank of Canada account is not required. Alternatively, an Electronic Funds Transfer (EFT) is a quick and efficient way to move funds from your accounts at another financial institution to NBIN. In the case of withdrawals, QVIM will process the withdrawal on your behalf, as per your instructions.