In recent years, changes have been made on investment statements to help increase investor understanding. Research indicated investors want to better understand “How am I doing?” and “What is it costing me?” The purpose was to implement a standardized clearly designed, plain language report.
With the intent to increase investor clarity around investment fees, any account charges or commissions received by Manulife Securities will be listed on your statement under the headline Annual Charges and Commissions near the end of your statement. From there, Manulife Securities pays a portion of these fees to your advisor (i.e. Farrow Financial) as compensation for the ongoing servicing of your account and providing advice.
In our practice these fees are either derived from the MER (mer full.jpg) or on Premier fee-based accounts. We do not actively use deferred sales charges or front end loads in our practice, but if we did, this is where they would appear.
What’s the take-away? It is designed to give Investors some more detailed insight on both performance and fees. It helps to further educate investors and encourage deeper understanding. Today's investors have many options; it's a matter of working with your investment advisor to find the best fit.
At Farrow Financial we strive to serve our clients in the best way possible, and provide ongoing valuable information to help our investors learn and grow. If you have any questions please call us, we're here to help.