TD Waterhouse Canada Inc.
3500 Steeles Avenue East
Tower 2, 2nd Floor
Markham, ON L3R 0X1
TD Wealth Private Trust
3500 Steeles Avenue East
Tower 2, 2nd Floor
Markham, ON L3R 0X1
TD Canada Trust
c/o Branch Services Centre (BSC)
Account Transfer Client Disclosure
In our business we are dedicated to continually improving Client Service. This Client Disclosure and informational document was developed
to help you understand the account transfer process. It is important to read this document carefully before signing the section called
CLIENT AUTHORIZATION on this Account Transfer form. Should you have any questions after reading this document, please be sure
to address your inquiries with your Receiving Institution's Investment Representative.
What is the difference between In-Cash and In-Kind?
In-Cash means that all your assets which are not currently in liquid form are to be liquidated, sold, redeemed, etc. in order that your account
can be transferred to the Receiving Institution in the form of cash.
It is important to note that if you have indicated an In-Cash transfer of your account, the trades will be executed at market. The trades will be
placed on a best efforts basis subsequent to the receipt of the transfer form and are subject to normal commission charges. In order to avoid
delays, you may place the trades yourself with the delivering institution at the time of signing this transfer form.
In-Kind means that you want the account transferred, as is. If you hold investment products and a cash balance, then the investment products
may be transferred as well as the cash balance in their current state.
How long will my transfer take?
The time required to completely transfer your account will for the most part depend on the type of account you are transferring and type of
investment products you currently hold. Please note that all your assets may not all be transferred at exactly the same time.
Non-registered Accounts:
Under current IIROC (Investment Industry Regulatory Organization of Canada) regulations, this type of transfer may take approximately
10 business days from the time of receipt by the Delivering Institution, if it is being delivered via the Automated Transfer Online
Notification System (ATON). If the transfer is not being delivered via ATON, the length of time to complete the transfer could exceed 10
business days.
Types of Investment Products
Mutual Funds:
Currently, mutual fund products take longer to fully transfer, and may result in a possible delay into your new account, due to the
requirement of re-registering the mutual fund at the Fund Companies. On average mutual funds require 5 - 10 business days to transfer
from the time the mutual fund power of attorney is received by the Receiving Institution.
Guaranteed Investment Certificates & Term Deposits:
Generally, a Guaranteed Investment Certificate (GIC) is not transferable IN-KIND (as is) prior to the maturity date. Most GIC's must be
transferred IN-CASH upon their maturity. Please check the terms and conditions with the Institution which currently holds your investment.
If your GIC matures in more than 6 months' time, please submit your transfer request one month prior to maturity.
Other Investment Products:
There are many other investment products which may be non-transferable, non-redeemable or subject to other delays. Some of these products
include Mortgages, Foreign Securities, Non-transferable Bonds (minimum denomination requirements).
Rejected Transfers:
An account transfer request may be rejected by the Delivering Institution for a number of reasons, such as, insufficient funds to cover fees,
account not in good standing i.e. undermargin, short position(s), etc. If for any reason your transfer has been rejected by the Delivering
Institution, they may return the transfer to the Receiving Institution unprocessed. When the rejection has been rectified, the transfer
process may begin again and the Delivering Institution may then have approximately 10 business days, from the date of receipt of
the transfer documents to process the transfer.
How much will it cost to transfer my account?
Transfer Fees:
Most institutions charge a transfer out fee of which the cost will vary. You may also be subject to additional operating and transaction
charges related to your transfer, such as Deferred Sales Charges, Short-term trading fees, Early Redemption fees etc. Please contact your
delivering institution for further information. It is important to ensure that you have sufficient funds available in your account at the
delivering institution to cover your transfer and administration fees, as the delivering institution may reject the transfer unprocessed, thus
creating a lengthy delay.
TD Direct Investing, TD Wealth Financial Planning and TD Wealth Private Investment Advice are divisions of TD Waterhouse Canada Inc., a subsidiary of The Toronto-Dominion Bank.
TD Waterhouse Canada Inc. - Member of the Canadian Investor Protection Fund. TD Wealth Private Investment Counsel represents the products and services offered by TD Waterhouse Private
Investment Counsel Inc., a subsidiary of The Toronto-Dominion Bank. TD Wealth Private Trust services are offered by The Canada Trust Company.
® The TD logo and other trade-marks are the property of The Toronto-Dominion Bank.
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Delivering Institution / Head Office Transfer Dept. / Branch Copy / Client
595170 (1016)
