Resources

FAQ's

How do I get to your office by TTC?
I locked myself out of WealthTracker. How do I gain access again?
How is Watermark Wealth Management affiliated with HollisWealth?
Why do you collect my personal information and how is it used?
Is March 1st always the deadline for RRSP contributions?
What is a Fiduciary Responsibility?
What is discretionary management?
Can Watermark Wealth Management talk directly to my accountant?
How many treats are consumed at Watermark Wealth Management in a year?
What makes a good client/advisor investing relationship?
Do you recognize the picture of the bridge on our home page?
How are fees calculated?

1. How do I get to your office by TTC?

Conveniently located, our office is a short walk (8 minutes) from the Eglinton West subway station. When you get out of the subway station turn left (east) and walk along Eglinton Avenue West until you get to 980. If you hit the Starbucks at Hilltop Road you’ve walked too far.

2. I locked myself out of WealthTracker. How do I gain access again?

After three incorrect password attempts the system locks you out. If your login is simply locked, just phone our office and a member of the team will be able to unlock it for you. If however, you require your password to be refreshed; our head office has to mail you a new password via Canada Post (yes, snail mail). To start that process, call our office.

3. How is Watermark Wealth Management affiliated with HollisWealth?

We are independent financial advisors under the HollisWealth banner who have chosen to brand our team Watermark Wealth Management.

4. Why do you collect my personal information and how is it used?

We require your personal information in order to establish a relationship with you and provide you with the best possible service. Your signature, financial history, current financial position, social insurance number, age and other similar personal information allow us to:

• Establish your identity;
• Assess your eligibility for our investment products and services;
• Continue to offer you the full range of products and services that we believe meet your changing needs;
• Protect you and us from error and fraud.

In addition, we require your personal information in order to allow us to meet regulatory or contractual requirements relating to the products and services provided to you. For more details, and to read our entire Privacy Policy, please visit the iA Securities website. Privacy Policy

5. Is March 1st always the deadline for RRSP contributions?

No, it does vary on occasion. Here are a few future RRSP contribution deadlines:

Year

RRSP Contribution Deadline

2018

March 1

2019

March 1

2020

March 2

6. What is a Fiduciary Responsibility?

A widely misunderstood concept is the distinction between a financial advisor who is a comprehensive financial planner, skilled in all aspects of wealth management, and that of a salesperson affiliated with proprietary products. A comprehensive financial planner working as a registered investment advisor is a legal fiduciary. As a fiduciary, a financial advisor must always provide services and advice in the best interests of the client. This fiduciary standard lies in stark contrast to those who may represent themselves as “financial planners”, but in reality are salespersons peddling proprietary products for which they will receive a hefty commission. A fiduciary must serve the client, if necessary at the cost of the fiduciary's own interests.

7. What is discretionary management?

Discretionary management is what gives Portfolio Managers the unique ability to manage the day-to-day investment decisions in their clients’ accounts without speaking to the client before making those decisions. Watermark Wealth Management’s Portfolio Managers sit down with clients to find out what the goals for the account(s) are, they then construct a portfolio to suit those individual requirements based on the framework they create called an Investment Policy Statement (IPS), which the client signs off on.

8. Can Watermark Wealth Management talk directly to my accountant?

Absolutely! However, as your privacy is our utmost concern, we would first need written authorization from you before we can speak to anyone about your portfolio.

9. How many treats are consumed at Watermark Wealth Management in a year?

Our treats are supposed to be for clients only, but our team occasionally gets into the goodies so the numbers go way up! On average, clients consume about 527 annually. With our team’s help that number could be as high as 700. We enjoy time spent with our clients reviewing their wealth management plan. Doing that while sharing in a cup of coffee and some tasty baked goods is even better!!

10. What makes a good client/advisor investing relationship?

An open, candid, trusting interaction between the client and the advisor will go a long way in ensuring that short and long-term goals and objectives can be attained. In doing so, keep in mind the following: a) Define “success” at the outset and make sure your interests are aligned, b) Make sure that both you (and your partner) are engaged in the discovery process that leads to the wealth management plan, c) You and your advisor must be open with each other about how the portfolio will be managed and the range of returns that should be expected, d) Ensure that the portfolio is managed according to a documented Investment Policy Statement (IPS), e) Talk regularly about life changes that may affect how your portfolio should be managed, and how your advisor is keeping your portfolio aligned with your plan.

11. Do you recognize the picture of the bridge on our home page?

It’s the 100-year-old Queen Street East Bridge over the Don Valley River. The bridge is part of a three-part work by Eldon Garnet about time. As the quote, “This river I step in is not the river I stand in”, suggests, change is the only constant. We thought it was an appropriate quote for our website as the team at Watermark Wealth Management is constantly helping our clients plan for their future.

12. How are fees calculated?

Managed Accounts

If your account numbers begin with “13” you have Managed Accounts. The fee is a simple percentage of the assets held in enrolled accounts, and the overall rate declines as the value of your assets grow.

The fee is calculated based on the month end value of your account and is charged on a monthly basis. Certain non-chargeable investments may be held in your Managed account(s) for convenience, but are discounted from the asset-based fee calculation.

The fee on non-registered accounts is tax deductible so every year we send you an Annual Summary of Fees report.

Summit Accounts

If your account numbers begin with either an “S” or the number “12” you have Summit Accounts. The fee is a simple percentage of the assets held in enrolled accounts, and the overall rate declines as the value of your assets grow.

The fee is calculated based on the month end value of your account and is charged on a monthly basis. Certain non-chargeable investments may be held in your Summit account(s) for convenience, but are discounted from the asset-based fee calculation.

The fee on non-registered accounts is tax deductible so every year we send you an Annual Summary of Fees report.