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  • Do I need a Financial Planner?

    Many people find the world of finance a confusing place. Most don’t have the time or resources to sort through all the different options available. Can you keep up with changes to income taxes, investment products, estate laws, etc.? A financial plan provides you with peace of mind. Studies emphasize that Canadians with financial plans feel that they are saving more, living better, and experiencing higher levels of overall contentment in their lives. Those who engage in financial planning report significantly higher levels of emotional well-being than those who do no or limited planning.

    What is the financial planning process?

    We will create your financial plan by determining where you are now (your current financial position), where do you want to be in the future (your goals), and how are you going to get there (recommended strategies). Following the creation of the plan, we will help you implement the plan and periodically review and update the plan. Here are the steps:

    • - Defining the scope of engagement
    • - Identify your financial and personal goals and objectives
    • - Clarify your present situation
    • - Identify financial problems or opportunities
    • - Preparing your plan, determining recommendations and alternative solutions
    • - Implement the appropriate strategies to achieve your goals,
    • - Review and update your plan periodically.

    How do I get started?

    Start by completing a detailed Financial Planning Questionnaire through our website. Once that is complete a Portfolio Manager from Provisus will review it with you and prepare a detailed plan specific to your needs.

    What information do I need to complete a financial plan?

    As with any type of planning the more information you have the more effective the plan. Please see the list below to determine what you should use to complete the plan. Many people won’t have everything on this list but the more you can provide the better.

    • -Most recent Notice of Assessment and/or T4: This is the document you receive from the government after filing your taxes.
    • -Most recent pay stub
    • -Investment statements (RRSP, RESP, TFSA, Non-registered, etc.)
    • -Employer pension statement
    • -Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) statement
    • -Most recent Financial Plan
    • -Net worth statement (list of assets and liabilities)
    • -Personal budget (list of income and expenses)
    • -Personal loan and/or line of credit statements
    • -Mortgage documents (please include the most recent statement)
    • -Power of Attorney, Wills and other relevant legal documentation

    How do I become a client?

    When you are ready to move forward with your financial plan, Provisus will manage your investments. To get started, you simply review and sign the account opening documents including transfer forms. The staff at Provisus will take care of the details and invest your funds.

    Will I be able to see my account online?

    Yes, online account viewing is available via a secure portal from this website.

    If I need money from my account, what do I do?

    All funds in your account belong to you, and you can make additions or withdrawals from your account at any time. If you do plan on making withdrawals from your account it is a good idea to let us know in advance so Provisus can make arrangements to liquidate investments. If securities need to be sold to raise funds, keep in mind that it may take a few days to obtain the cash.

    How often should I update my financial plan?

    It is a good idea to review your plan and compare it to your current situation about once a year or whenever there has been a change in your circumstances. Those changes can be life impacting events like a divorce or winning the lottery, as well as common changes like a change in goals or an increase in pay. You can contact a financial advisor through our web site with your new information.

    What is the cost?

    Provisus charges a program management fee based on the amount of assets under management. Fees generally are calculated monthly, as a percentage of net asset value, and paid quarterly in arrears.

    What kind of communications will I receive?

    On a quarterly basis you will receive a customized statement from Provisus containing manager commentaries and performance at the account level and overall household. The statement encompasses all of a household’s financial assets, spanning accounts with different owners, registrations, and tax statuses (investor, spouse, joint, children, RRSP, RRIF, RESP, TFSA, corporate accounts, and trusts).

    • Quarterly Statements
    • Annual Review
    • Annual Gain/Loss and Fee report for open accounts tax reporting. We can accommodate corporation year end dates as well.

    Clients receive the following reports from the Custodian – Laurentian Bank Securities:

    • Monthly custodial statements
    • T3 and/or T5 tax slips (annually)
    • Registered account contribution statements (annually)
    • You can contact us at any time to discuss your accounts.

      Operationally, your portfolio is managed in a custodial environment. Neither Provisus nor Transcend will ever touch your money directly as cheques are made out to the custodian, Laurentian Bank Securities. The funds are held in Canadian Investor Protection Fund (CIPF) protected accounts in your own name at Laurentian Bank Securities. You are the beneficial owners of the individual securities so they are not pooled together with other investors.

      We will not take possession of our clients' funds. We will not have responsibility for debiting client accounts for payment of bills other than investment management fees which are handled by Laurentian. You can see everything happening in your accounts at any time through our website.

      There is complete reporting available, daily (online access), monthly regulatory statements which come directly from the custodian (Laurentian), quarterly statements (us) and year-end tax & transaction documentation (from both Provisus and Laurentian).

    How safe are my assets?

    Operationally, your portfolio is managed in a custodial environment. Neither Provisus nor Transcend will ever touch your money directly as cheques are made out to the custodian, Laurentian Bank Securities. The funds are held in Canadian Investor Protection Fund (CIPF) protected accounts in your own name at Laurentian Bank Securities. You are the beneficial owners of the individual securities so they are not pooled together with other investors.

    We will not take possession of our client's funds. We will not have responsibility for debiting client accounts for payment of bills other than investment management fees which are handled by Laurentian. You can see everything happening in your accounts at any time through our website.

    There is complete reporting available, dauly (online access), monthly regulatory statements which come directly from the custodian (Laurentian), quarterly statements (us) and year-end tax & transaction documentation (from both Provisus and Laurentian).

    Are you a Robo-Advisor?

    While technology plays a large role in our practice, we believe that the experience of our advisors can never be replaced by a robot. We are much more than a Robo-Advisor and consider ourselves to be a hybrid. We employ technology to be able to offer our services at a fraction of the cost you would incur investing through a traditional advisor. Additionally, experienced investment professionals provide advice to clients and manage their portfolios on an ongoing basis.

    Who is Provisus Wealth Management?

    Provisus is a registered Portfolio Manager and Investment Fund Manager. Transcend Private Client Corp is a wholly owned subsidiary controlled by Provisus. Provisus is solely responsible for the implementation/management of the investment portfolios and ongoing asset allocation, including the selection of underlying funds. Transcend is an unregistered financial planning firm and does not provide security selection advice.

    What is Pay-for-Performance?

    A client-friendly fee structure for actively managed funds. Pay-for-Performance is aimed at improving the quality, efficiency and overall value of how investments are managed. This structure provides a financial incentive for portfolio managers to achieve the best results for clients. Fees are charged quarterly, based on month-end closing market value. If an investor purchases or sells shares during a calendar quarter, the performance fee will be calculated for the period invested. We believe that paying for investment management should be linked to the quality of performance achieved.

    Who has access to my investments?

    Your investments are held in an account with our custodian Laurentian Bank. Provisus only has the right to issue trading instructions for your accounts; we cannot access your account other than to receive our quarterly fee. Only you can deposit to or withdraw from your account.

    Do I need to meet with anyone face-to-face?

    Investing with Transcend is easy as everything can be done online and over the phone. Before opening your account, an advising representative from Provisus will contact you at your convenience to ensure we fully understand your needs. Additionally, our client service representatives are always happy to help if you need any assistance with getting started.

TRAnscend Services

Whatever your situation and ambitions, we tailor our services to meet your requirements. As your priorities change, so will the composition of the team that looks after your financial affairs.

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