MANAGED ACCOUNTS. If you are in the Portfolio Program your account is a managed account. Investment decisions for your account are made on a continuing basis by ▇▇▇▇▇▇ ▇▇▇▇▇ (or a third party adviser), in accordance with the standard of care and other terms set out in your managed account agreement (the “Managed Account Agreement”). Advisory accounts may be cash investment accounts or margin accounts (loan). Advisory accounts and managed accounts may be one of the following account types: • U.S. dollar accounts • Self-directed retirement plan accounts • Tax-Free Savings Accounts • Group retirement plans • Education savings plans • Disability savings plans Advisory accounts and managed accounts may hold a variety of investment products: • Listed stocks • Mutual funds • Fixed income (e.g., bonds, debentures, zero-coupon bonds, GICs) • ▇▇▇▇▇▇ ▇▇▇▇▇ Guided Portfolios® • ▇▇▇▇▇▇ ▇▇▇▇▇ Portfolio Program® In addition to advisory accounts and managed accounts, ▇▇▇▇▇▇ ▇▇▇▇▇ offers the following financial services: • Equity research • Financial needs assessments • Cash management services (mortgage referral, cash management account) • Investment recommendations • Portfolio reviews • Online Account Access • Electronic delivery of statements, trade confirmations and tax documents Insurance products are offered through our affiliated insur- ance agencies, ▇▇▇▇▇▇ ▇▇▇▇▇ Insurance Agency and, in Québec, ▇▇▇▇▇▇ ▇▇▇▇▇ Insurance Agency (Québec) Inc.: • Term life • Disability • Universal life • Long-term care • Whole life • Annuities • Critical illness • Segregated funds (variable annuities) Please discuss with your advisor which products and services are appropriate for you. Products and services generally offered by ▇▇▇▇▇▇ ▇▇▇▇▇ to its clients may be added or deleted from time to time. ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not provide any of the fol- lowing services: • Legal advice (including advice as to the drafting of ▇▇▇▇▇, designation of beneficiaries and creditor protection) – You are encouraged to consult with a lawyer for such advice. • Tax advice – ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor can provide general information with respect to the tax treatment of products and services provided, but will not provide you with specific advice as to the impact of federal or provincial income tax laws and regulations on your personal situation or the structuring of your affairs. You are encouraged to consult with a tax professional for such advice. • Tax return preparation – ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not prepare income tax returns for you. • Discretionary investment management – For Advisory Accounts, ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not manage your affairs or investments on a discretionary basis. Invest- ment decisions will only be implemented upon your instruc- tions (which may be written or verbal). Securities regulations require that we use due diligence to ensure that orders accepted from you and recommendations made to you (or, in the case of managed accounts, investment decisions made for you) are suitable for you, based on factors including your financial situation, investment knowledge, investment objectives and time horizon, risk tolerance, current portfolio compensation and risk level. As a result, we reserve the right to decline to accept orders to purchase securities for an advisory account if, in our opinion, they are not suitable based on such factors. Upon opening your account, your advisor will request information from you related to these factors, which will be used to assess the suitability of invest- ments recommended and orders accepted. You will be provided with a copy of this information in the Account Authorization form. Please review this form carefully to ensure that all of the personal and financial information recorded is accurate before signing the form. After your account has been opened, you will receive a letter from our home office verifying the information that has been recorded in our client account records with respect to your personal and financial information. Please review this letter carefully and advise us promptly if any of the information is not accurate. If there is a material change to your personal or financial information – such as your employment status, income or financial resources, investment objectives or risk tolerance – at any time after you open your account, please tell your advisor about these changes so that we may update our records and continue to provide suitable advice. If you do not tell your advisor about these changes, we cannot ensure that any further recommendations made to you or orders accept- ed from you will be appropriate for you. If there is a material change in your personal or financial circumstances that results in a change to the information that we have on record, we will send you another letter verifying these changes. Please review this letter carefully and advise us promptly if any of the information is not accurate. For advisory accounts, your advisor will review your account holdings to assess their suitability in the following circum- stances:
Appears in 2 contracts
Sources: Account Agreement, Account Agreement
MANAGED ACCOUNTS. If you are in the Portfolio Program your account is a managed account. Investment decisions for your account are made on a continuing basis by BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇ (or a third party adviser)will use due diligence to ensure that the suitability of the positions held in your account(s) is reviewed on an initial and ongoing basis, in accordance with the standard of care and other terms set out in your managed account agreement (the “Managed Account Agreement”), applicable to your account. Advisory If you have any questions on the process of gathering KYC information or determining an investment suitability assessment, please contact your Investment Advisor . Statements and Confirmations With the exception of any accounts may be cash investment accounts or margin accounts (loan). Advisory accounts and managed accounts may be that you hold in one of the following account types: • U.S. dollar accounts • Self-directed retirement plan accounts • Tax-Free Savings Accounts • Group retirement plans • Education savings plans • Disability savings plans Advisory accounts and BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇’ fee based managed accounts may hold a variety of investment products: • Listed stocks • Mutual funds • Fixed income (e.g.assets programs, bonds, debentures, zero-coupon bonds, GICs) • BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇ Guided Portfolios® • will issue a trade confirmation on the first business day following the date of any trade effected in your account(s). This excludes transactions resulting from systematic plans such as dividend reinvestments, and pre- authorized purchases or sales of securities. If you are a fee based managed assets account holder, you will not receive trade confirmations for any trades executed in your account(s). This is because the institutional portfolio manager, or your BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇ registered Portfolio Program® In addition Manager/Associated Portfolio Manager, has authority and responsibility for the buy and sell decisions with respect to advisory accounts and the investments held within your account(s). If you wish to receive trade confirmations for your managed accountsassets account(s), please speak to your Investment Advisor. For further information, please refer to the Managed Account Agreement applicable to your account(s). Account statements BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇ offers will provide you with account statements according to the following financial servicesschedule: • Equity research On a quarterly basis if you held any cash or investments in your account during the quarter; or • At the end of the month if: - You have requested to receive statements on a monthly basis; or - There was activity in the account during the month (other than interest or dividend entries). You will also be provided with an October month-end account statement each year that you maintain an account at BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇, to coincide with the fiscal year end of BMO Financial needs assessments • Cash Group . Based on the reporting period of your account statement, it will confirm: the value of your portfolio; your current holdings; the portfolio position cost, all account activity, including purchases and sales of securities; contributions and withdrawals; dividend payments; interest earned and paid; transfers; and any other transactions that took place in your account over the reporting period. In addition, included on each statement you receive, is a Year-to-Date Fees Summary for the current calendar year. This summary details all fees paid directly by you (i.e., management services (mortgage referralfees, cash management account) • Investment recommendations • Portfolio reviews • Online Account Access • Electronic delivery of statementsand operating and transaction charges), trade confirmations and tax documents Insurance products are offered through our affiliated insur- ance agenciesas well as any compensation we received on your behalf from third parties. On your December month-end statement, BMO ▇▇▇▇▇▇▇ ▇▇▇▇▇ Insurance Agency andwill include a section titled, in Québec, ▇▇▇▇▇▇ ▇▇▇▇▇ Insurance Agency (Québec) Inc.: • Term life • Disability • Universal life • Long-term care • Whole life • Annuities • Critical illness • Segregated funds (variable annuities) Please discuss with your advisor which products and services are appropriate for you. Products and services generally offered by ▇▇▇▇▇▇ ▇▇▇▇▇ to its clients may be added or deleted from time to time. ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not provide any of the fol- lowing services: • Legal advice (including advice as to the drafting of ▇▇▇▇▇, designation of beneficiaries and creditor protection) – You are encouraged to consult with a lawyer for such advice. • Tax advice – ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor can provide general information with respect to the tax treatment of products and services provided, but will not provide you with specific advice as to the impact of federal or provincial income tax laws and regulations on your personal situation or the structuring of your affairs. You are encouraged to consult with a tax professional for such advice. • Tax return preparation – ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not prepare income tax returns for you. • Discretionary investment management – For Advisory Accounts, ▇▇▇▇▇▇ ▇▇▇▇▇ and your advisor will not manage your affairs or investments on a discretionary basis. Invest- ment decisions will only be implemented upon your instruc- tions (which may be written or verbal). Securities regulations require that we use due diligence to ensure that orders accepted from you and recommendations made to you (or, in the case of managed accounts, investment decisions made for you) are suitable for you, based on factors including your financial situation, investment knowledge, investment objectives and time horizon, risk tolerance, current portfolio compensation and risk level. As a result, we reserve the right to decline to accept orders to purchase securities for an advisory account if, in our opinion, they are not suitable based on such factors. Upon opening your account, your advisor will request information from you related to these factorsYour Performance Report, which will be used to assess the suitability of invest- ments recommended includes your total percentage return – on both a Time-Weighted and orders accepted. You will be provided with a copy of this information in the Account Authorization form. Please review this form carefully to ensure that all of the personal and financial information recorded is accurate before signing the form. After your account has been opened, you will receive a letter from our home office verifying the information that has been recorded in our client account records with respect to your personal and financial information. Please review this letter carefully and advise us promptly if any of the information is not accurate. If there is a material change to your personal or financial information – such as your employment status, income or financial resources, investment objectives or risk tolerance – at any time after you open your account, please tell your advisor about these changes so that we may update our records and continue to provide suitable advice. If you do not tell your advisor about these changes, we cannot ensure that any further recommendations made to you or orders accept- ed from you will be appropriate for you. If there is a material change in your personal or financial circumstances that results in a change to the information that we have on record, we will send you another letter verifying these changes. Please review this letter carefully and advise us promptly if any of the information is not accurate. For advisory accounts, your advisor will review your account holdings to assess their suitability in the following circum- stances:Money-Weighted basis .
Appears in 1 contract
Sources: Client Account Agreements