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  2. Important notice: Upcoming transfer of CWT self-directed account(s) holding arm’s length mortgages to Olympia Financial.

Important notice

Upcoming transfer of CWT self-directed account(s) holding arm’s length mortgages to Olympia Trust Company ("Olympia").

Effective December 31, 2024, Canadian Western Trust Company (“CWT”) will no longer offer self-directed intermediary account services to holders of Arm’s Length Mortgage Investments and other securities. On this date, CWT will resign as the trustee and custodian of all self-directed account(s) holding arm’s length mortgage investments and other securities. 

Ensuring our clients continue to receive the same high level of service and support for their account(s) is a priority for us. We have made arrangements with Olympia Trust Company (“Olympia”) to take over your account(s) and act as administrator effective January 1, 2025, subject to the successful completion of related transactions and regulatory approvals. Olympia will assume the role of successor trustee for all registered accounts.

What this means for you: 

  • No action is required by you to facilitate a smooth transfer of your account(s) to Olympia.
    You will not be charged any transfer fees for account(s) transferred from CWT to Olympia. Any accrued and outstanding administration fees for the current year will be charged to your account(s) by CWT on a pro-rated basis at the end of December.  

  • If you want to choose a different provider:
    If you wish to transfer your account to a different trustee/provider other than Olympia, you must provide the appropriate transfer requests to CWT prior to December 12, 2024. CWT’s standard transfer out fees will apply to accounts moving to alternative trustees.

If we don’t receive notice by December 12, 2024, Olympia will take over your account, including all personal information associated with the account, effective January 1, 2025. Please note there will be a pause on all transactional activities, including fundings, for instructions received after December 17, 2024. We will forward any instructions or new fundings received but not processed to Olympia for processing in the first few days of January 2025. Please consider this when planning your account activities.

We truly appreciate your business and are confident the transition to Olympia will continue to provide you with the exceptional service you are accustomed to. Olympia is excited to serve you and will send you more information in early January, including a welcome kit with your new account and online access details For more information about Olympia, visit https://www.olympiatrust.com.

Questions?

Should you have any questions about this transition, or about your account(s), please contact CWT’s Client Services Team at 1.800.663.1124. 

Important Transition Dates
Mark your calendar with these dates and timeframes

 Transition Activity  Date

Last day to request a transfer to a different trustee/ provider other than Olympia 

  • To request a transfer, please have your institution of choice submit a Transfer Form to CWT 
 December 12, 2024

Transactional blackout period 

  • Note: any instructions received but not processed will be forwarded to Olympia, to be processed after January 1, 2025.
 December 17- December 31, 2024

CWT resignation date 

  • CWT no longer acts as trustee and custodian of your account(s) 
 December 31, 2024

Account transferred to Olympia 

  • Olympia is now the trustee/ provider of your account(s) 
 January 1, 2025