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Canaccord Genuity Corp. is Canada’s premier independent investment dealer providing a wide range of investment products and solutions. As a recognized leader in wealth management, we are driven by an unwavering commitment to help you achieve your financial goals. It’s a commitment to deliver sound, unbiased investment advice from Investment Advisors having the freedom to recommend the most appropriate investment products and solutions available. It’s a commitment to ensuring you attain your financial goals irrespective of market conditions or shifts in your personal circumstances.
It’s a commitment to putting our clients first.
An important first step in delivering on this commitment is to provide you with an easy-to-understand description of:
- Our products and services;
- The nature of your account(s) with us and the manner in which they operate;
- Your responsibilities to us; and
- Our responsibilities to you.
This relationship disclosure document will be provided to you at the time you open an account with us or before we begin providing you with automated investment advice and trading services. We will provide periodic updates to this relationship disclosure whenever there is a significant change to the information contained in this document.
WHO WE ARE
Canaccord Genuity Bamboo is a division of Canaccord Genuity Corp., an investment dealer regulated by the Investment Industry Regulatory Organization of Canada (“IIROC”) and a member of the Canadian Investor Protection Fund (“CIPF”), the Toronto Stock Exchange (“TSX”) and the Montreal Exchange (“MX”).
Canaccord Genuity Corp. is a wholly owned subsidiary company of Canaccord Genuity Group Inc., a publicly traded company listed on the Toronto Stock Exchange with its global headquarters located in Vancouver, Canada.
THE INVESTMENT PRODUCT WE OFFER
Canaccord Genuity Bamboo is an online advisory investment dealer and offers a variety of portfolios made up of affordable exchange-traded funds. The following are the only products available to you through Canaccord Genuity Bamboo: Exchange-traded fund portfolios.
THE ACCOUNT RELATIONSHIP WE OFFER
Canaccord Genuity Bamboo offers a managed account relationship.
In a managed relationship, final investment decisions are the responsibility of Canaccord Genuity Bamboo. In making those decisions, an Investment Policy Statement will be created from a personalized investor profile created for you from the information you have completed during the onboarding process. You will not be asked to make any specific investment decisions throughout the duration of this relationship.
We offer an online managed account relationship which is a managed account in which investment decisions are made by a digital platform (“robo”) algorithm based upon information such as risk tolerance levels and other “know your client” (KYC) information provided by you resulting in a specific investment mandate chosen for you. You may also access a Portfolio Manager or Registered Representative who can assist you with selecting the mandate and investment most suitable for you. Throughout the duration of the managed relationship, Canaccord Genuity Bamboo is responsible for ensuring you receive unbiased investment counsel and that your selected mandate continues to be suitable.
THE ACCOUNT TYPES WE OFFER
Canaccord Genuity Bamboo offers the following account types with the robo managed account relationship, including:
- Cash accounts
- Registered Retirement Savings Plans (RRSPs)
- Tax-free savings accounts (TFSAs)
OTHER SERVICES WE OFFER
Our affiliate company, Canaccord Genuity Wealth & Estate Planning Services Ltd. (“CGWEPSL”), offers insurance, financial and estate planning services. CGWEPSL offers comprehensive and personalized financial plans based upon your unique investor profile. Financial plans are constructed with an emphasis on tax minimization strategies, retirement capital preservation, individual pension plans, philanthropic solutions and efficient estate asset distribution.
Canaccord Genuity Wealth Management, (“CGWM”) a division of Canaccord Genuity Corp. , is a full-service investment dealer which provides access to a variety of investment products including but are not limited to the following: common and preferred stocks, government-backed securities, income trusts, corporate bonds, flow through shares, debentures, new and secondary issues, strip bonds, options, rights and warrants, guaranteed investment certificates, mutual funds, principle protected notes, exchange-traded funds and cash equivalent instruments. CGWM provides two types of account relationships, advisory and managed and offers these services with the following account types: cash accounts, margin accounts (long and short), registered plans (RRSP, RRIF, TFSA), fee-based accounts and education savings plans (RESP).
Canaccord Genuity Bamboo may offer additional services and products as they are developed. Information on new offerings is available by visiting our website at cgbamboo.ca speaking with our client services department, reading information included with your account statement or in other direct communications we deliver to you.
THE OPERATION OF YOUR ACCOUNTS
Achieving your financial goals is very important to Canaccord Genuity Bamboo. It is therefore essential for you to understand the various roles and responsibilities that you, and Canaccord Genuity Bamboo t have with respect to the operation of your accounts.
i. Your Responsibilities
Canaccord Genuity Bamboo is required by legislation to ensure investments in your accounts are suitable. To assess for suitability, we rely on accurate “know-your-client” (“KYC”) information provided by you at the time of account opening. Such KYC information includes your investment objectives, risk tolerance, time horizon and previous investment experience. It also includes personal information such as your age, occupation, relevant life circumstances, annual income and net worth.
The KYC information you provide to us must be accurate if we are to ensure investments in your accounts are suitable. As such, you must provide us with up-to-date and complete information regarding your life circumstances and financial condition, and you must notify us immediately if there is a change in your investment objectives, time horizon, risk profile or any other material change that could reasonably result in a change to the types of investments appropriate for you.
You must also ensure the KYC information you have provided is accurately recorded on your account opening documentation and on any subsequent updated documentation, and promptly inform us of any inaccuracies or changes to that information.
You are responsible for carefully and promptly reviewing all communications you receive from Canaccord Genuity Bamboo, such as account statements, and promptly informing Canaccord Genuity Bamboo of any inaccuracies or errors.
You are responsible for actively participating in the account relationship you have chosen, asking questions and requesting information from Canaccord Genuity Bamboo about transactions conducted in your account and your account’s holdings and performance. You must contact Canaccord Genuity Bamboo immediately if you are unsatisfied with the handling of the affairs in your accounts.
You are responsible for reviewing any and all product disclosure documents, provided to you in connection with investments made in your accounts. In so doing, you are responsible for understanding the potential risks of certain holdings and, where appropriate, are responsible for seeking counsel from qualified professionals for legal and tax advice.
You are responsible for paying all administrative fees, service charges, and transaction charges for operating your account. Your obligation to pay these charges is disclosed to you in the Client Account Agreement. The Client Account Agreement also specifies the circumstances in which Canaccord Genuity Bamboo may sell a portion of your holdings to reduce or eliminate the indebtedness in your account if you are unable to pay for these charges by other means.
ii. Canaccord Genuity Bamboo’s Responsibilities
In a managed relationship, Canaccord Genuity Bamboo is responsible for ensuring the investment mandate you select is suitable based upon the KYC information you provide. Managed accounts are subject to continuous suitability assessments throughout the duration of the managed relationship.
We are responsible for assessing the suitability of investments in your accounts, re-assessing suitability to account for any material changes to your client account information or circumstances, and for the supervision of your account activity. We are also responsible for the following:
Account Documentation
We are responsible for providing you with Canaccord Genuity Bamboo’s Relationship Disclosure document; Conflicts of Interest Disclosure document; Privacy Disclosure Notice; and our Statement of Policies. All are provided to you at account opening.
We will also provide you with these important industry pamphlets at the time of account opening:
- Canadian Investor Protection Fund brochure
- How IIROC protects investors
- IIROC’s “Making a Complaint: A Guide for Investors Part 1”
- IIROC’s “How Can I Get My Money Back? A Guide for Investors Part 2”;
- IIROC’s “Opening an Investment Account: A Guide for Investors”
The operation of your account is governed by legal agreements depending upon the type of account you have opened. All accounts are governed by the Client Account Agreement, the Robo Managed Account Agreement and the current fee schedule.
All applicable agreements will be provided to you on account opening.
We are also responsible for providing you with additional account documentation including, but not limited to, the following:
- Account Information Form
- Account Information Update
- RRSP Application Form
- TFSA Application Form
- Applicable Provincial/Federal Addendums
- W-8BEN/W-9 Forms
The documentation you receive depends upon the account type you have chosen.
Account Statements
We are responsible for sending you an account statement quarterly for each of your accounts, and monthly if you regularly transact in your accounts. Account statements will, at a minimum, include details on all trades in securities (the name of the security, and the price and quantity at which it traded); open and closing cash balances; and the cost and market value of your holdings as of the end of the statement period. If we do not hear from you within 30 days of the statement date, Canaccord Genuity Bamboo will consider all content within the statement to be correct, complete, and approved by you.
Annual Account Reports
We are responsible for sending you an annual account report for the previous calendar year. This report contains two sections: 1) Performance, and 2) Charges and Payments. The Performance section gives you a clearer picture of how your investments have performed over the last year. The Charges and Payments section lists the charges you paid over the same time period, along with any third-party payments associated with your accounts.
The annualized total percentage return is calculated using a money weighted formula. Due to limitations of this calculation method, some account reports may not include a rate of return. The beginning date for performance calculations in your account is January 1, 2016. Each year, annualized returns and changes in market value will be calculated back to this date or your account opening date if it was opened after January 1, 2016.
Investment Performance Benchmarks
When properly selected, benchmarks are an effective way to assess the relative performance of your investment strategy and represent a good starting point when evaluating the overall success of your investment choices. They can also help you form realistic expectations about the returns your portfolio can generate over the long term. For example, an annual return of 5% on a diversified equity portfolio may seem weak; however, if the portfolio’s benchmark return is 3% over the same holding period, the equity portfolio has actually outperformed.
Many investors choose a broad market index to serve as an investment performance benchmark. For example, the S&P 500 is an index of 500 leading companies in the large-cap segment of the U.S. equities market and would be an appropriate benchmark for a client invested in large-cap U.S. equities. Similarly, the FTSE TMX Canada Bond Universe Index would be an appropriate benchmark for a portfolio comprised of Canadian bonds since this index tracks the performance of investment-grade fixed income in the Canadian market. For a portfolio composed of securities from several different asset classes, the appropriate benchmark might be a combination of indices weighted according to the portfolio’s asset mix.
Due to the vast number of benchmarks from which to choose, and because investment strategies will vary from one client to the next, benchmark comparisons are not provided as part of our standard account reporting.
Conflicts of Interest
A conflict of interest is any circumstance in which the interests of different parties, such as your interests and our interests, are inconsistent or divergent. Canaccord Genuity Bamboo has a responsibility and regulatory obligation to identify and manage these conflicts in a fair, impartial and transparent manner. We deal with and manage relevant conflicts as follows:
Avoidance: Conflicts prohibited by law or are otherwise unmanageable must be avoided.
Control: Certain conflicts must be controlled; for example, the physical separation of business units and/or departments to restrict the flow of highly sensitive information.
Disclosure: A majority of conflicts can be managed by way of full disclosure to you thereby enabling you to independently assess their significance when evaluating, for example, investment recommendations made by Canaccord Genuity Bamboo.
In the course of providing you with investment counsel, there may be times when a conflict emerges between you and Canaccord Genuity Bamboo. It is important you understand these conflicts and how Canaccord Genuity Bamboo will oversee them.
To that end, we strongly encourage you to read our Conflicts of Interest Disclosure document provided to you at account opening. It highlights the most common conflicts of interest encountered by Canaccord Genuity Bamboo in delivering our products and services to you and will assist you in understanding how these common conflicts will be managed. Any conflicts of interest not already disclosed to you within the Conflicts of Interest Disclosure document or that emerge during the course of your relationship with Canaccord Genuity Bamboo will be disclosed to you as they arise.
Complaint Handling
We are responsible for responding to your feedback effectively and efficiently, and for resolving any complaint you may have regarding your Canaccord Genuity Bamboo accounts. In most cases, a complaint can be resolved by our client services department. However, should you feel your complaint cannot be resolved by our client services department, contact our Designated Complaints Officer (“DCO”) directly at:
Canaccord Genuity Corp.
C/o Designated Complaints Officer
P.O. Box 10337
609 Granville Street, Suite 2200
Vancouver BC Canada
V7Y 1H2
The DCO is responsible for acknowledging your complaint within 5 days of its receipt. The acknowledgement letter will include the contact information of the person handling your complaint, a summary of our complaint handling procedures, the timeframe (within 90 calendar days) in which you can expect to receive a substantive response to your complaint and the escalation steps available to you should you remain dissatisfied with our complaint examination findings. Submitted with the letter will also be a copy of two IIROC pamphlets: “Making a Complaint: A Guide for Investors (Part 1 of 2)” and “How Can I Get My Money Back? A Guide for Investors (Part 2 of 2)”. The substantive response letter we send to you will include a summary of your complaint, an explanation of our investigation, our final decision, and your available options should you be dissatisfied with that decision.
THE FEES, SERVICE CHARGES AND COSTS INCURRED IN THE OPERATION OF YOUR ACCOUNTS
Managed Account – Fees
Any time a buy or sell is executed in your managed account, you will not be charged a commission. Rather, a quarterly fee is charged and is calculated as a percentage of the account’s total market value. Fees will vary depending upon the investment amount held in your account.
All such fees, and the method of their calculation are disclosed in the Managed Account Agreement, and/or Investment Policy Statement you complete at the time of account opening.
Administrative, Maintenance and Other Service Fees
Canaccord Genuity Bamboo may also deduct from your account fees for additional services you request. A list of all such charges is disclosed to you in our current fee schedule. Canaccord Genuity Bamboo will provide you with 60 days written notice in advance of levying a revised fee from that originally disclosed in the current fee schedule.
The charges discussed above are separate and apart from the fees charged in your managed account.
Taxes
Applicable taxes may be deducted from your account, including but not limited to:
- Any goods and services tax and any other federal, provincial or municipal tax levied upon or calculated with reference to the fees or expenses payable under the terms of the Client Account Agreement;
- Withholding taxes arising from U.S.-source and other foreign- sourced investments;
- Withholding taxes arising on payments to non-residents of Canada; and,
- Withholding taxes payable to government authorities arising from payments or withdrawals from, or deregistration of, a registered savings plan.
Please contact clientservices@cgbamboo.ca with any questions you may have or for more information about Canaccord Genuity Bamboo’s products and services.
Email messages are intended only for the use of the intended recipients, and it may contain information that is privileged and confidential. If the reader of the email message is not the intended recipient, or an employee or agent responsible for delivering the email message to the intended recipient, such reader is hereby notified that any review, retransmission, conversion to hard copy, copying, circulation or other use of the email message is strictly prohibited and may be illegal. If you have received the email communication in error, please immediately notify us by replying to the message and deleting it from your computer. Canaccord Genuity Bamboo reserves the right to monitor all communications sent by e-mail through its networks. Instructions related to operations sent by email will not be accepted. In no way does this notice limit other more restrictive warnings that may have been sent to you by Canaccord Genuity Bamboo.
Canaccord Genuity Bamboo has not reviewed the content of any third-party website, which is linked to its own site nor is it responsible or liable for the content of any third-party website. Canaccord Genuity Bamboo provides third party links solely as a convenience and for educational or informational purposes to its users. By linking to any third-party website, you do so at your own risk and acknowledge leaving the website of Canaccord Genuity Bamboo. Any opinions or recommendations expressed on any third-party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of Canaccord Genuity Bamboo. Also, Canaccord Genuity Bamboo does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. Canaccord Genuity Bamboo does not warrant the timeliness, accuracy or completeness of any facts, material or information contained on any third-party website. Canaccord Genuity Bamboo reserves the right in its sole discretion to add or discontinue links to any third-party website at any time and for any reason. Trademarks, logos, and service marks represented on this website are trademarks of their respective companies. Permission was granted for their use. Finally, the third-party providers are independent companies of Canaccord Genuity Bamboo.
