Assante Private Client (APC) has announced changes to its wealth management offering for affluent Canadians, including a reduction in management fees, other pricing changes, and measures to improve the tax efficiency of clients' investment accounts.
APC uses a tiered management fee model that gives clients progressive discounting as their invested assets grow, explains Assante. The new schedule launched this month has reduced management fees by an average of 25% and has consolidated the number of tiers for simplicity. APC has also unbundled the management fee from the advisor service fee to give advisors and their clients more flexibility.
Other changes are aimed at allowing for more flexible and tax-efficient use of distributions in non-registered accounts. Distributions can now be used for fee payments, portfolio rebalancing, or for reinvestment into their portfolios, based on the client’s personal tax situation.
"High net worth families today value highly personalized experiences in all facets of their lives and this is no different when it comes to wealth management," said Jaime Ross, APC President. "Not only does our new pricing model offer exceptional value, it is fully transparent and enables advisors and clients to tailor pricing to the level of complexity, service and overall client experience."