MFDA Frequently Asked Questions

Q 1. Why are these MFDA integration changes happening?

In 2018, Qtrade Financial Group joined Credential Financial and NEI Investments to create a new parent company, Aviso Wealth Inc. Since then, they have been integrating their business lines. The next step involves integrating their mutual fund dealer companies to a single new system, which includes member account(s) offered through Qtrade Asset Management (QAM) and Member account(s) offered through Credential Asset Management (CAM).

Q 2. When is MFDA integration changes happening?

The integration date has changed and is now scheduled to take effect as of January 18, 2021.

Q 3. Where can I get more information about this integration?

Additional information will be included in the September and December quarterly statements sent by Aviso Wealth Inc. to members. There is also a section on Credential’s public website ( www.credential.com/integration ) which includes information on the integration.

Q 4. After the MFDA integration, what changes will the members see?

• Branding
• New statement format
• Member account number
• Member online portal
• e-Delivery expanded scope
• Trustee for registered account
• Timing of this year’s annual administration fee

Branding

Q 5. What changes can the members expect on the new branding?

As we bring together two mutual fund dealers (Qtrade Asset Management and Credential Asset Management Inc), branding will be changed to Credential Asset Management Inc.

Q 6. Where will member see changes to logo & branding?

Members will start to see logo and branding on items such as on their statements, tax documents, CRM2 reports, account opening, operational forms and credential online client portal account access. Please visit www.credential.com/integration for more details.

As Aviso Wealth continues the process of amalgamating onto one platform (from Univeris to Dataphile), members may see a mix of the Qtrade Asset Management and Credential Asset Management Inc. brands. Rest assured, while the logos may be different, they are the same company. Below are some examples:

New Statement Format

Q 7. What changes will member see on their new statement with respect to branding?

With the MFDA Integration, there will be changes to members statements for both Credential Asset Management (CAM) and Qtrade Asset Management (QAM). The new integrated MFDA statements will be branded 'Credential Asset Management'.

QAM (Qtrade) clients will see CAM (Credential) branding on their statements and CRM2 reports after MFDA integration.

Q 8. What features on the statement that will continue?

Features that will continue:

• Asset mix graph
• Co-branding
• Registered plan summary information

Q 9. What features on the statement that will be removed?

Features that will be removed:

• Performance (CAM only) Note: this information will still be available in annual CRM2 reports
• Change summary (money in / money out / change in market value)

Q 10. What is different in the statements?

1. As Aviso Wealth convert their platform from Univeris to Dataphile, member will receive one set of CRM2 reports and 2020 tax documents.

2. However, there will be pre- and post-conversion statements for March 31, 2021, and potentially for 2021 CRM2 reports and tax.

a. A 'closing statement' - from our current system, in the familiar format with your existing account number(s).

b. An 'opening statement' - from our new system, in a new format with your new account number(s).

Q 11. Is there any change to CRM2 reports?

2020 CRM2 reports will be issued from Univeris in the familiar format and branding for each of the CAM and QAM. This report will reflect the full activity for the year.

Note: Regardless of clients' preference, the 2020 CRM2 Reports will be sent via paper & post, with no eDelivery.

Q 12. Is there any change to the tax documents for 2020?

Tax reporting for activity within 2020 will also be business as usual. A single set of tax documents will reflect the full year's activity.

New Account Number

Q 13. What change is happening with member account number?

Member will receive a new account number(s) effective January 18, 2021.

Q 14. When will members receive the new account number?

New information will be provided on their January 2021 first quarterly statement that member receives from the new system (opening statement).

Please note: Their previous account number(s) will be shown on your last quarterly statement from the old system (closing statement).

Member Online Portal

Q 15. What is member online portal change?

As part of the MFDA Integration in November, online account access for all Credentials (CAM) and Qtrade (QAM) members will be migrated from their current member portal to a single portal for all MFDA clients. This will be called Credential Online.

Q 16. What is changing on the member online portal?

• Existing users will need to set up new log-in credentials in the Credential Online portal
• Existing users will see changes to the interface and functionality
• Following MFDA Integration, new clients will be given online access automatically as part of the onboarding process (provided an email address is captured)

Q 17. How will the online portal access impact members?

We are transferring to a new and improved platform called Credential Online for access to members mutual fund account information anytime. For current users, the first time they log in after January 18, 2021, they will be automatically redirected to set up your access to the new platform.

• New clients with an email address will be set up with online access when opening an account or performing a KYC update.
• Existing members will be able to gain access to the portal on the first update of their account post integration by providing an email address to their advisor.
• All clients (e-Delivery and paper) with an email address on record will receive an email to let them know their documents are ready.
• All clients (e-Delivery and paper) with online access will be able to see their documents online.

e-Delivery

Q 18. What will be changing with e-Delivery?

The scope for e-Delivery will be expanded (beyond the current ability to provide statements) to include CRM2 reports and tax documents for clients.

Trustee Change

Q 19. What is a trustee change?

The trustee plays an important role in administering registered plans, Canadian tax legislation requires all registered plans to have a trustee.

The trustee’s role is to advise Aviso Wealth on all registered plan administration matters and legislative updates, as well as to hold uninvested client cash balances ‘in trust’.

Q 20. Why are you changing trustees?

This trustee change is about streamlining our administration to a single trustee for all our registered accounts. This change does not impact the account holders and no action is required on the part of clients.

Q 21. Does this change require member to sign new account documentation?

No, there is no new documentation required for you to sign, or any other action that needs to be taken by you.

However, there will be a new Declaration of Trust document that reflects the change in trustee for Credential Asset Management Inc. accounts and the new integrated mutual fund dealer name for Qtrade Asset Management Inc. accounts.

Q 22. Does this impact who I make a cheque payable to and/or any direct deposits I have set up?

No, there are no changes to your account or how you use it. All your current automatic transactions will remain the same and you can continue to make deposits and withdrawals the way you do today.

This new trustee documentation will be available on the public website www.credential.com/integration.

Q 23. When will the trustee for registered accounts change start?

This change to the trustee for the registered account will be effective on January 18, 2021.

Trustee for Credential Asset Management Inc.

Q 24. Will the trustee for registered accounts offered through Credential Asset Management Inc. change?

Yes, the trustee for registered accounts currently offered through Credential Asset Management Inc. will change from Concentra Trust to Canadian Western Trust (“CWT”).

Credential Asset Management will continue to administer registered plans (e.g. RRSP, RRIF, TFSA) with CWT as the trustee.

Trustee for Qtrade Asset Management Inc.

Q 25. Will the trustee for registered accounts offered through Qtrade Asset Management Inc. change?

Registered accounts currently offered through Qtrade Asset Management Inc. already use Canadian Western Trust, so there is no trustee change.

However, there will be new trustee documentation as of January 18, 2021 as a result of the legal name change involved in the dealer integration.

Annual Administration Fees

Q 26. Will the timing of this year’s annual administration fee change?

As integration was originally scheduled for November 2020, we changed the timing of the annual fee billing for registered accounts to be one month earlier this year.

For 2020 only, the annual administration fee will be charged in October, based on the market value of your account as of August 31, 2020.

For a copy of your applicable Fee Schedule, please contact your mutual fun advisor.

Q 27. Are my fees going up?

No, there are no changes to the fees themselves. This change only applies to the timing of the fee billing.

Q 28. Is the annual fee pro-rated for this year if it’s being billed earlier than the usual 12-month cycle?

No. While the timing of the fee billing is changing this year, the annual administration fee still covers the full 12-month period for 2020.

Q 29. How are fees billed to my account?

The annual fee billing process is the same as in past years. If there is cash in the account, the fee is taken from there.

Otherwise a redemption will be posted to your account after the fee billing cycle cutoff date of October 5, 2020.

Q 30. Will there be changes to the fee schedule for 2021?

There are also minor changes to the fee schedule that applies to members account, effective January 1, 2021. Samples are available online at www.credential.com/integration.

Disclaimer: Mutual funds are offered through Qtrade Asset Management (a trademark of Credential Asset Management Inc.). Mutual funds are offered through Credential Asset Management Inc.