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Monthly Statements

Frequently Asked Questions (FAQs)

On December 17, 2012 (the “Conversion Date”), Retire First Ltd converted its books and records system Penson Financial Services Canada to Fidelity Clearing Canada. Set out below are answers to some frequently asked questions regarding the conversion that we trust will be helpful to you.

1. How are accounts combined for household mailing for Fidelity Statements after Dec 31, 2012?

§ Household mailing is established by having the same name and address information on our system for each relevant account. Statements containing the exact same name and address information will be mailed to you in a single envelope or package.

§ Each Statement package will contain an Portfolio Summary and each different account type and currency account per household.

 

2. What does the asterisk (*) signify in the Account Summary section on the BPS Statement?

§ The statements are sent to you monthly for any accounts that have had activity in the relevant period. Please note that for accounts where no activity has occurred during the relevant period, Statements are prepared and sent quarterly (i.e., for the quarter ending in March, June, September and December of each calendar year).

 

3. How do you read a statement?

§ The first page is the Account Summary page listing a summary of accounts in your household under the section “Portfolio Summary”.

§ The top right section of the Account Summary page indicates the relevant statement period.  US currency accounts are listed if there is activity. The “Income Summary” lists the amount and type of income received for each account.  Trust income and dividend income are combined in “Total Dividends.”

§ The “Portfolio Summary” lists the summary of account numbers and the value of accounts included in your household.

§ The “Account Activity” section lists the account type and account number. It also includes the account’s opening balance, activity for the statement period and closing balance of the account.

§ The “Security Holdings” section sets out the securities held in each account.

§ The “Terms & Conditions & Other Information” section includes disclosure and other relevant information.

 

4. What prices are used to value securities on the Statement?

§ For Canadian dollar (“CAD”) currency accounts, the securities’ closing price is used when available; otherwise, the bid price is used (as provided by an independent data provider).

§ For U.S. dollar (“USD”) currency accounts, the securities’ closing price is used when available; otherwise, USD equivalent of the bid/close price is used (as provided by an independent data provider).

§ For accounts in a currency other than CAD or USD, the securities’ closing price or bid price is used when available (as provided by an independent data provider).

 

 

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