TORONTO, April 8, 2019 /CNW/ - Assante Private Client ("APC") is pleased to announce enhancements to its comprehensive wealth management offering for affluent Canadians, including a significant reduction in management fees and other pricing changes, and measures to improve the tax efficiency of clients' investment accounts.
APC, a division of CI Private Counsel LP, is a multidisciplinary program available to high net worth clients of Assante Wealth Management. APC provides comprehensive wealth planning that integrates discretionary money management, tax-optimization strategies, estate planning and personalized advice for a holistic approach to wealth management.
"High net worth families today value highly personalized experiences in all facets of their lives and this is no different when it comes to wealth management," said Jaime Ross, APC President. "Not only does our new pricing model offer exceptional value, it is fully transparent and enables advisors and clients to tailor pricing to the level of complexity, service and overall client experience."
APC uses a tiered management fee model that gives clients progressive discounting as their invested assets grow. The new schedule launched this month has reduced management fees by an average of 25% and has consolidated the number of tiers for greater simplicity. In addition, APC has unbundled the management fee from the advisor service fee to give advisors and their clients more flexibility.
Additional changes allow for more flexible and tax-efficient use of distributions in non-registered accounts. Distributions can now be used for fee payments, portfolio rebalancing, or for reinvestment into their portfolios, based on their personal tax situation.
"These initiatives significantly strengthen Assante Private Client and will support our advisors and in-house wealth planning experts in servicing existing clients and attracting new high net worth clients to the program and their practices," said Damon Sutherland, Senior-Vice President, Sales and Wealth Services at APC. "When paired with previous enhancements made over the past year, the flexible fee solutions reinforce our commitment to provide a customized experience for the specific life and legacy goals of each family."
The changes announced today follow updates implemented a year ago when administration fees were reduced on the APC investment pools and alternative investment strategies were added to the lineup of investment choices.
About Assante Private Client
Assante Private Client, a division of CI Private Counsel LP, is a wealth management platform serving high-net-worth individuals, families and business owners across Canada. Assante Private Client provides investors with a complete approach to financial advice that incorporates all aspects of wealth management – tax and estate planning, risk management and investment management. For more information, please visit www.assante.com.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, securities or to provide investment advisory services in any jurisdiction. The funds referenced herein are available only to "accredited investors" or in reliance on another exemption from the prospectus requirement under applicable securities legislation.
SOURCE Assante Private Client
For further information: Jaime Ross, President, Assante Private Client, (416) 681-6336; Damon Sutherland, Senior Vice-President, Sales and Wealth Services, Assante Private Client, (416) 681-7020