TSX Symbol: CIX
TORONTO, May 1, 2017 /CNW/ - CI Investments Inc. ("CI") today launched its new CI Preferred Pricing™ and CI Private Wealth™ programs, providing eligible investors with the benefit of automatically applied fee discounts. CI Preferred Pricing and CI Private Wealth make use of the same pricing model and are designed with investors and advisors in mind. Eligible client-name accounts are auto-enrolled in the CI Private Wealth program.
The pricing model will apply a flat fee rate to all eligible assets, also known as dollar-one pricing. Once an investor's qualifying assets in an account reach various thresholds, assets in CI's Class A (ISC) and F, as well as Evolution Private Managed Accounts' Class E (ISC) and F (United Funds), will be automatically switched to the appropriate fee tier to receive the discount. Weekly market value assessments will ensure discounted pricing is applied in a timely manner, positive market value changes will influence fee tier levels, and investors will not be penalized for negative fund performance. There will be no tax consequences for these switches, as the funds remain the same.
"These automatic switches ensure that as investor's assets reach certain thresholds, available discounted pricing is automatically applied," said Roy Ratnavel, Executive Vice-President and National Sales Manager of CI. "With Preferred Pricing, fees are simplified for the client by being straightforward and transparent."
Price discounts for most funds start at the $150,000 per account level, and increase as client asset levels rise. Also, extended family groups with aggregate asset levels of $250,000 or more can be linked for pricing purposes, generating additional discounts.
About CI Investments – Canada's Investment Company
CI Investments is one of Canada's largest investment management companies. It offers a wide range of investment products and services, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $160.5 billion in assets as of March 31, 2017.
SOURCE CI Financial Corp.
For further information: Murray Oxby, Vice-President, Communications, CI Investments, (416) 681-3254
CI Financial Corp. is a diversified wealth management firm which has been managing money since 1965 and is one of Canada's largest investment fund companies with approximately $150 billion in assets as of July 31, 2016. Independent and Canadian-owned, CI is committed to providing investors with a comprehensive and innovative selection of top-quality investment products and services. CI operates...