Product Description
Most situations call for the Trustee and the Institution to enter into an Agency Agreement, whereby the Institution takes on the responsibility to administer the client relationship and the Trustee provides fiduciary services, as they relate to Revenue Canada requirements.
Institutions, like brokerage firms, will sell a Self Directed RSP or other Registered product to their client base. Under the Income Tax Act, these types of Plans must have a Trustee. Canadian Western Trust then appoints the brokerage firm to act as its agent.
The Trustee will also hold the uninvested cash balances held within the Registered Plans.
Product Benefits
Canadian Western Trust ["CWT"] is a full service intermediary for mutual fund dealers and independent financial advisors, plus a CSS FundSERV participant. We also provide a delivery against payment equity and fixed income settlement service, for our annuitants through a network of brokerage firms. Therefore, we understand your business better than any other service provider.
CWT provides Regulatory RSP trustee services as follows -
- All registered products are available,
- CWT is able to customize the level of agent delegation,
- Private company and investor mortgage experience,
- CWT offers self-directed mortgage service,
- An annual fiduciary audit of client files and company data,
- CRA tax reporting, as applicable.
Fees:
Fees are determined in accordance with client volumes, services required and responsibilities outlined in the specific Agency Agreement.