Thursday, February 15, 2001

Winnipeg Free Press

Location: Winnipeg, Manitoba

Page: 82

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Text Content of Page 82 of Winnipeg Free Press on Thursday, February 15, 2001

Winnipeg Free Press (Newspaper) - February 15, 2001, Winnipeg, Manitoba 12 The Jewish Post fc News Financial Guide 2001 Fund transfers can be a headache SOP I recently transferred some registered funds from one financial Institution to an I was in formed That it would take be tween four and six It took just under two I was not very im THREE REASONS TO CALL TOD AY 1 competitive GIC rates up to a full percent higher than bank rates minimum sizes may apply 2 personalized service even a home visit if needed 3 complete confidentiality Whether rate shopping or for a full portfolio call Peter Arnold 9822619 email peter.arnold@rbcds.com RBC DOMINION SECURITIES ROYAL INVESTMENT SERVICES Rates subject to change availability Canadian Investor Protection Fund pressed with the length of time It the money was not earning anything in the How long should It take to transfer funds And why would it take so long Transferring regis tered and nonregis tered funds can be quite a Even if you or your adviser have all of the docu ments in events might occur that slow the The more people in volved in the the longer the transfer will take and the greater a possibility that some thing will go That is not to say that there are no timely After having dis cussed this subject with several Canadian finan cial we have determined that there are no hardand fast There are policies and generally accepted industry prac that suggest that if all the documents are accu rate and the transfer should take place start to finish within three There is no particular section in the Quebec Securities Act Regulations that states how long itshould take to transfer securities from one dealer to an Sec tion 235 of the Regula tions mentions that registered person must use the care that is com mensurate and ex pected from an in formed According to the Ca nadian Bankers Asso ciation and rules con tained in the Interbank Procedures and Stand ards there will be different delays de pending on whether you are transferring deposittype registered plans or mutual If you are transferring deposittype such as guaranteed in vestment certificates or term itshould take seven business days 12 business days during RRSP sea That seven to 12 days from the time the documents reach the branch or process ing centre orthe matu rity date of the deposit whichever is Mutual funds should be transferred within five to 10 business In order to facilitate a reasonably fast and painless transfer of ac you should en sure that all the paper work is in excellent or accu rate and This is up to your ad viser or the financial institution receiving the you are at the mercy of the financial institution relinquishing the funds and the other institu tion receiving the lory Capital a full service Investment dealer I ory Capital was incorpo existing Winnipeg operations of Gordon Private ratpH linHpr thp rrf tho Prnwinro nf rated under the laws of the Province of Mani toba on March jory represents the Client The underlying investment practice was established in jwiy I II IlllXUUt under new of the pre jory Capital is a research full service Long Term Strategic Thinking Commodity Exchange Tower 360 Main Suite 2070 Manitoba R3C 3Z3 1 8005454069 Member of CIPF investment dealer with institu tional pension management accounts under jory Capital also provides corpo rate finance and investment counselling services to corporate and governmeht jory Capital focuses on complimentary business units in Government Corporate Institutional Pension Fund Management and Risk TD Waterhouse Institutional Services is the cus todian of Jory Capitals nonregistered client as sets and provides jory Capital with ongoing back office Montreal Trust is the custodian of jory Capitals registered client Jory Capital employs 16 including 3 overseas offices staffed by economic research associates in KenyaOsaka japan Co lumbia El Para Jory Capital has a commitment to hiring the very best in human jory Capital has attracted talent from a wide variety of This allows jory Capital to build a teambased environmentand allow it to tap into a pool of talented individuals with varied backgrounds and Jory Capital is a member of the Investment Dealers Association of Canadian Venture Winnipeg Commodity Exchange and the International Foundations of Employee Ben efit Jory Capitals Board of Directors includes John Crow private business person of ON former Governor of the Bank of Lorraine Mahoney President of Allan Smart Associates of Kelven Vanderveens Greenhouses Of Murdoch QC of the law firm Duboff Edwards Haight Schacter and Patrick CEO of jory