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Advisor Guide
Why Evolution Private Managed Accounts?
Be empowered by an innovative solution tailor-made for your clients. Experience holistic wealth management customized
to meet your clients’ needs today and as they evolve.
Experience EVOLUTION.
Comprehensive research and a disciplined investment approach
■ State Street Global Advisors (SSGA) provides
comprehensive forward-looking return expectation
research and portfolio recommendations.
■ CI Multi-Asset Management uses SSGA’s research and
recommendations to construct the portfolios, and
selects the best managers for each asset class.
■ Actively managed strategic asset allocation portfolios
designed to capture evolving market and economic
opportunities.
Multiple investment strategies
■ Personalized investment strategies may be applied to
portfolio solutions and remain actively managed.
Premier portfolio management
■ Access to award-winning money managers, including
Signature Global Asset Management, Harbour Advisors
and Cambridge Global Asset Management, through an
industry leader – CI Investments.
The Evolution advantage: enhanced portfolios and practice management efficiency
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Competitive fee structure
■ Pricing options to accommodate high net worth portfolios.
Tax-efficient investing
■ Tax-efficient investment processes.
■ Corporate Class structure distributes only the most
tax-efficient forms of income and is designed to
minimize annual dividends.
■ Tax-efficient source of stable monthly cash flow
with T-Class option.
Consolidated simplified reporting
■ Comprehensive Investment Policy Statement.
■ Quarterly statements consolidated at the family group level.
■ Annual detailed tax packages.
Wealth planning support
■ Financial and estate planning for clients.
■ Regional wealth planning support with over
$1 million of assets.
Evolution’s efficient strategic asset allocation portfolios
are crafted to capture evolving market opportunities. The
considerable asset mix research and recommendations of
SSGA and its Investment Solutions Group are carefully
blended with the portfolio construction expertise of
CI Multi-Asset Management.
State Street stays on top of more than 100 global marketsWith US$2 trillion* in assets under management, 27 offices
worldwide and more than 2,500 employees, State Street
Global Advisors is one of the largest investment management
companies in the world and operates in more than 100
global markets.
State Street Global Advisors: recommendations and research with global reach
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*As of June 30, 2016
SSGA and its Investment Solutions Group are asset allocation
experts. They calculate portfolio mixes that offer the highest
return for each level of risk. The key inputs into this process
are their long-term asset class forecasts for risk, return
and correlation. Their risk and correlation estimates rely
heavily on analyzing historical data spanning numerous
market environments. Historical findings and relationships
are further adjusted for any sustainable changes observed
within current market environments in order to establish a
forward-looking assessment. SSGA’s total return estimates
are generated through a combined assessment of current
valuation measures, corporate earnings, economic growth,
inflation forecasts, and historical risk premiums for the various
asset classes. CI Multi-Asset Management uses this research
and these recommendations as the basis for designing,
developing and constructing the Evolution portfolios.
State Street Global Advisors: asset allocation specialists
Low Risk/Low Return
High Risk/High Return
Portfolios below the curve are not efficient because for the same risk one could achieve a greater expected return.
Under our approach, active management decisions keep all portfolios on the ever-shifting efficient frontier. The objective is to outperform the reference benchmark for any given level of risk.
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VOLATILITY
Efficient Portfolios
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CI Multi-Asset Management is an in-house group of professionals
who believe effective portfolio construction is driven by asset
allocations that are strategic and forward looking. This provides
opportunities to capture maximum return for a given level of risk,
and recognizes that investment opportunities and risks change
over time. Also, each asset class should be diversified by style
so that returns are not dependent on one investment approach.
Finally, portfolio managers should be selected because they are
the best for that asset class or style.
The CI Multi-Asset Management team is responsible for choosing
the portfolio managers, ongoing due diligence and overall
program management. The team’s proprietary program for
the monitoring of managers, as well as its portfolio-building
techniques, incorporate a best practices approach to ensure the
managers adhere to their investment mandates over time. The
team oversees $35 billion of assets (as of June 30, 2016) in
various managed solution programs for clients of CI Investments.
CI Multi-Asset Management builds the portfolios
Monitoring & risk control
Manager selection
Efficient asset allocation
Diversification
Client portfolios
High-quality securities
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1. Review State Street Global Advisors’ recommendations –
to see if any adjustments to the asset allocations are required
so there are no unintended duplications between managers,
or inappropriate sector, country or currency exposures.
2. Select each manager using our proprietary program, based on:
■ Proven philosophy and process
■ Resources that include team dynamics and experience
■ Historical track record
■ How they complement each other and add value to
the overall program.
We favour managers who excel at security selection and are
not afraid to differentiate their portfolios from the benchmark
index. Also, managers of each mandate are given discretion
to create their own portfolio that may be concentrated and
benchmark agnostic, attributes that we believe add value.
A disciplined investment process designed to achieve results
Capital Markets Research
Asset Allocation
Portfolio Strategy
Manager Selection
Implementation/ Trading
Review and Control
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Strategic asset allocation is used to create optimized
portfolios that are actively managed. Evolution is a
comprehensive platform, incorporating portfolios that:
■ Accommodate any level of risk tolerance
■ Are located on an efficient frontier
■ Apply investment strategies that satisfy clients’
unique needs.
Portfolio solutions for any investor
Income focus Equity focus
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Every asset class has distinct characteristics and will perform
differently in response to market changes but it’s difficult
to predict which will outperform. To reduce risk, careful
consideration must be given to the asset mix of a portfolio
to avoid putting too much reliance on any one asset type.
This chart shows calendar year returns for seven broad-based
asset classes (in Canadian dollars) and how their relative
performance has varied over time.
Diversification: maximum potential in all market cycles
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Best 38.37% 56.56% 10.23% 8.83% 8.72% 42.71% 16.70% 30.16% 32.98% 19.13% 6.40% 75.10% 38.53% 9.66% 15.60% 48.54% 24.34% 21.0%
Ass
et C
lass
Per
form
ance
29.48% 31.69% 7.41% 8.09% -0.91% 28.89% 14.47% 24.11% 27.24% 9.82% -18.93% 54.65% 20.34% 4.30% 14.89% 41.66% 14.72% 18.8%
9.20% 20.28% 7.32% 3.67% -7.16% 26.74% 14.13% 19.69% 18.68% 3.67% -22.86% 35.05% 17.61% -2.12% 13.38% 31.93% 10.55% 14.0%
4.84% 19.76% 0.47% 3.45% -12.45% 21.46% 11.84% 10.30% 17.25% 2.01% -30.28% 14.44% 13.08% -8.71% 13.04% 12.99% 8.79% 3.5%
-1.59% 14.07% -5.81% -6.40% -16.69% 14.78% 9.64% 6.47% 16.63% -4.87% -33.00% 9.88% 9.16% -9.84% 7.19% 7.76% 7.38% 1.9%
-17.90% 13.87% -10.85% -12.57% -21.47% 6.70% 7.13% 1.48% 16.13% -10.09% -42.66% 9.24% 6.74% -14.17% 3.60% 4.58% 4.46% - 8.3%
Worst -19.66% -1.14% -28.10% -16.33% -23.06% 6.14% 2.74% 1.16% 4.04% -16.09% -46.61% 5.42% 2.65% -16.42% 2.46% -1.19% -0.09% -17.5%
Source: Bloomberg
International Equities – MSCI EAFE Index U.S. Equities – S&P 500 Composite Total Return Index Emerging Market Equities – MSCI Emerging Markets Free Index Canadian Bonds – FTSE TMX Universe Bond Total Return Index U.S. Small Cap – Russell 2000 Index Canadian Equities – S&P/TSX Composite Index Canadian Small Cap. – BMO Nesbitt Burns Cdn Small-Cap Index
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Portfolio rebalancing
■ Over time, as different asset classes perform at different
rates, portfolios deviate from the original asset allocation.
■ Portfolios will be rebalanced to keep within the guidelines
set out in the customized Investment Policy Statement for
each investor.
Ongoing decision-making by the investment managers
■ Constant review and management of the investment
securities within each portfolio.
■ Anticipate and quickly respond to changing market
conditions with their day-to-day tactical actions to capture
opportunities and minimize risk.
Maintaining diversification while minimizing risk
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40%
22%
20%
18%
—
—
—
—
Income and Real Estate
Canadian Equity
U.S. Equity
International Equity
This results in the portfolio being rebalanced back to Target
28%
22%
20%
30%
—
—
—
—
Income and Real Estate
Canadian Equity
U.S. Equity
International Equity
Scenario:Market Fluctuations
40%
22%
20%
18%
—
—
—
—
Income and Real Estate
Canadian Equity
U.S. Equity
International Equity
Target Mix40i60e
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We regularly review the portfolios and the overall asset
mixes and make use of ongoing support from SSGA as we
implement our active management strategy. If required,
portfolios are adjusted as market conditions change to
ensure they remain efficient – because as markets change, so
should your clients’ portfolios. This ensures that your clients
continue to fully participate in the upside of the market while
remaining within their risk comfort zone.
Changes as a result of the active management* through
our annual portfolio review are applied automatically, which
means your clients never have to worry about portfolios
straying off course or having to decide which individual
investments to buy or sell as markets change.
Annual portfolio review: actively managed strategic asset allocation
Ensuring portfolios stay on the efficient frontier
Revised Portfolio
Revised Frontier
Portfolio
Efficient Frontier
Original Frontier
Original Portfolio
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The charts show a change to the efficient frontier where returns are revised for the same level of risk. Certain asset classes with the potential for higher returns have become less volatile, allowing more exposure to these asset classes, without altering the level of risk. As such, actively modifying the portfolio keeps it in tune with the current investment environment.
* Active management is subject to certain restrictions.
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Once the base portfolio is created, Evolution allows you
to incorporate personal investment strategies, all with the
confidence of knowing that we will still actively manage the
portfolio, keeping your client’s individual investment strategy
on track.
Every client has needs or preferences that differ from one
another; that’s why Evolution is built with the flexibility
to apply five investment strategies that allow infinite
combinations of custom portfolios to meet any objective.
After assessing your client’s particular objectives, you can
apply any of the following five strategies:
Multiple investment strategies: apply five levels of personalization
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
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Geographic allocationDiversifies equities across geographic regions by applying a
standard, Canadian or global focus.
■ Standard allocation provides balanced exposure to
the markets
■ Canadian focus increases exposure to the energy and
material sectors
■ Global focus offers greater exposure to consumer
discretionary and consumer staples, information
technology and telecommunication sectors.
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
Investment management styleDifferent styles tend to shine in different economic
environments. The broad range of available mandates
through Evolution can accommodate any investor.
■ Blend of 60% Value, 40% Growth is the default
allocation
■ 100% Value style is also available, or
■ Customize any balance between value and growth styles.
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
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Alpha investingEvolution offers concentrated equity portfolios that invest in
select portfolio managers’ best ideas, with a focus on absolute
returns and reducing risk.
■ Incorporate alpha mandates to access portfolios not
directly correlated to any benchmark.
■ Managers have been selected based on their proven track
record to outperform the benchmark.
■ Mandates available in Canadian, U.S. and international
equities.
Multiple investment strategies: (continued)
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
Currency hedgingAchieve global equity diversification and minimize portfolio
risk with reduced exposure to currency fluctuations.
■ In addition to the standard dynamic currency hedging
program employed for the United U.S. equity mandates
and the U.S. exposure of the United real estate
investment mandates, 100% currency hedging strategies
are available for United’s U.S. equity value and
international equity value mandates.
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
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Portfolio management preferencesEvolution offers a broad selection of award-winning portfolio
managers, allowing for the utmost flexibility in meeting your
clients’ objectives with over 50 mandates.
The portfolios are built with recommended funds based on
the previous four strategies, but a portion or all of a fund
can be replaced with any other fund within the same asset
class, allowing you to create a more tailored style mix for your
client. Alternatively, you can use a fund that falls outside of
the asset class, with certain restrictions, if you would like to
customize the overall asset mix of the portfolio*.
Geographic Style Alpha Currency Portfolio Manager
1 2 3
3
4 5
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
Geographic Style Alpha Currency Portfolio Manager
4
3
5
2
1
* While all asset mixes are rebalanced on an ongoing basis, selecting a fund that is outside of the asset class may limit our ability to actively manage the asset mix.
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Add stability to your portfolio using separately managed strategiesEvolution provides for additional flexibility in meeting your
financial goals through the use of separately managed
accounts. The account is held outside of your long-term
portfolio and is focused on cash and income investments.
This structure allows you to:
■ Add stability to your retirement strategy by using the cash
account for withdrawals during market declines, which
maintains the growth potential of the long-term portfolio.
Withdrawals during a down market can have an outsized
impact on the value of a portfolio and reduce its expected
lifespan. This is because the portfolio has less time to
recover during retirement, while more units have to be sold
to generate the same cash withdrawal.
■ Incorporate both short-term savings goals and long-term
objectives into one investment program.
■ Use a dollar cost averaging strategy, in which regular
investments are made into the long-term portfolio over time
rather than investing in one lump sum. During periods of
volatility, this strategy may result in purchases being made
at lower average prices.
■ Have access to CI U.S. Income US$ Pool – a true U.S. dollar
mandate. This options gives you direct exposure to U.S.
dollar-denominated securities by investing primarily in a
diversified portfolio of income-generating assets domiciled
in the U.S.
Separately Managed Accounts
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G5|20 in EvolutionG5|20 Series uses an innovative approach in which advanced
risk management and investment strategies are focused on
the goal of generating a stable retirement cash flow and
maximizing the value of the investment.
A guaranteed cash flow solution offering:
■ 5% guaranteed cash flows for 20 years, backed by Bank
of Montreal and the guaranteed asset value is reviewed
periodically to lock in a portion of market gains to increase
the guaranteed cash flow
■ Flexible investment mandate provides downside protection
in bear markets and takes advantage of opportunities in
bull markets
■ Tax-efficient cash flow for non-registered accounts (payments
are substantially characterized as return of capital)
■ The choice to select between taking income immediately by
selecting G5|20i or to start taking income five years after
their initial investment in G5|20
■ By investing in G5|20 series you can refine your investment
strategy with a guaranteed income stream solution in
addition to your managed portfolio.
Clients can refine their investment strategy by allocating a
portion of the managed portfolio to G5|20 in the separately
managed account which allows for an additional constant
stream of income. Regardless of how market volatility affects
the managed account portion of the overall portfolio, a
guaranteed stream of income will still be available.
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Access to unparalleled portfolio management We use in-house and external managers based on their proven track record in their areas of expertise.
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Signature Global Asset Management’s Morningstar Awards
include the prestigious Morningstar Fund Manager of the
Decade in 2010, and Morningstar Equity Fund Manager of the
Year in 2009, won by Eric Bushell, Chief Investment Officer.
CI Multi-Asset Management won Morningstar’s award for Best
Fund of Funds program in 2011, 2012 and 2013.
The following portfolio management teams have won
fund-specific categories from Morningstar and Lipper:
■ Signature Global Asset Management
■ CI Multi-Asset Management
■ Cambridge Global Asset Management
■ Harbour Advisors
■ Black Creek Investment Management
■ Altrinsic Global Advisors
■ Epoch Investment Partners
■ Picton Mahoney Asset Management
■ QV Investors
We use in-house and external managers based on their proven track record in their areas of expertise. The performance of Evolution’s portfolio management teams has been recognized through 31 Morningstar Awards over the past 10 years and 56 Lipper Fund Awards since 2007.
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1. Mandates are managed across family
accounts
■ All registered and non-registered accounts are viewed
as a single portfolio, allowing us to strategically allocate
investments for the greatest tax efficiency.
■ Investments are allocated across family accounts to take
advantage of tax-sheltered registered plans and members
with lower tax rates.
2. Corporate Class: tax efficiency for
non-registered assets
■ Corporate Class mutual funds are structured as shares
of a corporation rather than the traditional mutual
fund trust.
■ The Corporate Class structure distributes only the most
tex-efficient forms of income and is designed to minimize
annual distributions.
Tax-effective investing To minimize taxes, we manage assets differently than other firms.
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Evolution offers a flexible T-Class option, providing a solution
for investors seeking sustainable and tax-efficient cash flow
without sacrificing the potential for growth. T-Class provides
regular monthly payments while minimizing the pain of
taxation since distributions are classified as return of capital
(ROC). The annual payout can be customized to a specific dollar
amount or a specific percentage between 0.25% and 8%*.
This chart compares the net amount a client can expect to
receive of $10,000 worth of cash flow, depending on how
it’s generated.
ROC distributions reduce the adjusted cost base (ACB). Over
time, the ACB may fall to zero, in which case the T-Class
payments will be treated as capital gains – which are still
taxed at favourable rates. Please note that T-Class may pay
taxable annual dividends.
T-Class: flexible tax-efficient cash flow
* The actual payout (which cannot exceed 8%) may vary from year to year since it is based on the fund’s net asset value per unit at the beginning of the year.
$4,500$5,500
$7,300
$2,200
$7,800
$2,700
$10,000
Interest Income Dividend Income Capital Gains Return of Capital
The difference in the after-tax value of $10,000 in income from interest, dividends, capital gains and return of capital*
After-tax amount
*Assumes a tax rate of 45% on interest income, 27% on dividend income and 22% on capital gains. Tax rates based on an average of the highest combined federal and provincial personal income tax rates.
Taxes paid
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Investors can’t control the markets or performance of
portfolios, but they can control what they pay to invest.
Evolution offers a fee schedule that gives individual investors
a competitive pricing process.
Two pricing options are available:
■ Tiered pricing (Class I)
- Ideal for larger accounts given the progressive pricing
- Ideal for non-registered assets given the potential for
tax-deductibility of the fees
■ Embedded fee option (Classes E and A)
- Ideal for registered accounts in IPs between $250,000*
and $500,000, given the pricing is equivalent to the
second Class I tier
■ Combine both options if your client has both
non-registered and registered accounts.
Competitive fee structures
* Assets that do not meet the $250,000 minimum, but are over $100,000 may be charged an additional fee to access the Evolution services.
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Class I (Includes management and administration fees)
The Class I option ensures that pricing is applied progressively to larger asset bases.
Assets Fee Classification
(Determined by the Class I assets in the Investment Policy Group)
Money Market
Domestic/U.S. Income
Global Income
Canadian Equity
Foreign Equity
REIT / Gold / Emerging
Markets
Tier 1 ($250,000 – $500,000) 0.70% 0.85% 1.25% 1.25% 1.25% 1.35%
Tier 2 ($500,001 – $1,000,000) 0.65% 0.80% 1.10% 1.10% 1.10% 1.20%
Tier 3 ($1,000,001 – $3,000,000) 0.60% 0.75% 1.05% 1.00% 1.05% 1.15%
Tier 4 ($3,000,001 – $5,000,000) 0.55% 0.65% 0.85% 0.80% 0.85% 0.95%
Tier 5 ($5,000,001 – $10,000,000) 0.50% 0.60% 0.75% 0.70% 0.75% 0.85%
Tier 6 (Over $10,000,000) -------------------------------------------------- Negotiable --------------------------------------------------
Class I Account Agreement Fees are billed and redeemed quarterly based on daily net asset value of the account(s).
The Investment Advisory Fee range is 0% to 1.25%. The fees indicated above are before the Investment Advisory Fee and applicable taxes.
Class E (Embedded Series)
The Class E option is set up so that all regular fees are included in the daily net asset valuation.
Fee Ranges
Fee Classification Management Fee Administration Fee
Money Market 1.00% –
Domestic/U.S. Income 1.25% – 1.75% 0.17% – 0.20%
Global Income 1.75% 0.18%
Canadian Equity 1.90% – 2.00% 0.20%
Foreign Equity 1.90% – 2.25% 0.21% – 0.22%
REIT / Gold / Emerging Markets 1.90% – 2.25% 0.22% – 0.28%
To calculate total fees of a portfolio, management fees, administration fees and any applicable taxes must be applied to each mandate. The embedded management fee includes a 1.00% trailing commission for ISC, 0.5% for DSC, 0.65% for IDSC and 0.50% for LL units.
* Assets that do not meet the minimum but are over $100,000 may be charged an additional fee of 0.15% for Class I and 0.35% for Class E to access the Evolution services.
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Evolution Private Managed Accounts includes an Investment
Policy Statement, portfolio analytics, quarterly statements and
an annual tax package.
Investment Policy Statement (IPS)The Evolution IPS offers your clients a comprehensive overview
of their Evolution portfolio and investment plan, displaying
the following:
■ Their responses to their Investment Profile Questionnaire
■ Customized portfolio, including specific fund targets
■ Evolution’s tax optimization process, including the
benefits of Corporate Class, and
■ Return expectations.
Portfolio analyticsOur portfolio analytics provides you with historical and
positioning information for any Evolution portfolio,
as follows:
■ Country weighting
■ Historical portfolio returns including requested
cash flow per year
■ Periodic rolling returns, and
■ Fund correlation matrix.
Evolution simplifies risk management, reporting and tax preparation
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Quarterly statementsWe produce a consolidated statement at the end of each
quarter that consolidates all accounts within an Investment
Policy Group. This displays the market values of each account,
transactions and the overall asset mix.
Annual tax packageOur annual tax package offers simplicity and comprehensive
reporting for your clients’ non-registered accounts, by
providing information on:
■ Capital gains and losses
■ T5 showing dividend income or capital gains, if there
have been any Corporate Class dividends
■ Fees charged to the account, if the client holds Class I
shares (and may therefore benefit from tax deductibility).
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In order to provide you with flexibility and efficiency to both
meet your clients’ needs and provide easy integration into
your practice, Evolution offers you access to wealth planning,
depending on the asset level:
At $250,000 – the Financial Plan and the Estate PlanThese two plans are questionnaire-driven and can be
completed separately or together by you and your client.
Once the questionnaire is submitted, our team of financial
planning professionals, and lawyers work on a customized
plan based on your client’s circumstances.
Financial PlanThe Financial Plan focuses on providing answers to clients’
questions about their financial goals and objectives:
■ What do they have today?
■ Will it be enough to meet their needs?
■ What happens if things change, how much more or less
can they spend?
■ What is the likelihood of the outcome? (probability
analysis, included at your request)
The Financial Plan is also designed to offer the option of
including a section that will help you to identify insurance
needs and opportunities, addressing questions regarding
death, disability or critical illness.
Evolution offers you powerful wealth planning support
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Estate PlanThe Estate Plan addresses the following client concerns:
■ Outlines current circumstances regarding your client’s
intentions for distribution of assets, and calculate
projected tax liability on death
■ Consideration of tax-efficient plans for distribution
of assets
■ Recommendations for the will to ensure it reflects the
client’s wishes and is structured in a tax-efficient manner
■ Recommendations for beneficiary designations for
retirement plans, insurance policies and tax-free
savings accounts
■ Recommendations for powers of attorney for property,
financial and health care decisions.
At $1,000,000 – our Regional Wealth Planners can help you gather and present the Financial Plan and Estate Plan
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■ Minimum $250,000* initial investment (across family
accounts) with preferred pricing
■ State Street Global Advisors’ research from markets
across the globe forms the basis for our strategically
allocated portfolios
■ Portfolios are actively managed by CI Multi-Asset Management
■ Award-winning portfolio managers
■ Wide choice of investment mandates, including
alpha mandates
■ Dynamic currency management of the U.S.
equity mandates
■ Flexible fee options — available in Class I and
Embedded Series
■ Truly tax efficient on multiple levels — allocation of
investments and corporate class
■ Easy-to-use advisor interface provides portfolio analytics
and customized Investment Policy Statement
■ Detailed reporting — quarterly consolidated client
reporting, annual tax packages
■ Financial Plan and Estate Plan to assess overall financial
situation and provide information on tax, financial and
estate planning strategies
■ Separately Managed Accounts and G5|20 in Evolution are
also available as well
Evolution Private Managed Accounts: Quick facts
* Clients with investable assets above $100,000 may access the Evolution services for an additional fee.
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The Evolution six-step process
Applyinvestmentstrategies
Implement IPSand account
administration
Ongoingportfoliosupport
Determineportfolio
Define investmentgoals and
risk tolerance
Consider client’s investment objectives, tolerance for risk and investment time horizon.
Determine which of the nine model portfolios isappropriate for the client.
Apply managementor style preferencesto ensure that theportfolio best suitsclient’s needs. Portfolio analyticsare available tosupport the investment decision.
Apply the following investment strategies where applicable:
1. T-Class2. Separately Managed3. G5|20 in Evolution
Generate a customizedInvestment PolicyStatement to reflectthe client’s profileand choices. Submit the order to Evolution Administration via an easy-to-use interface.
We will continuouslysupport Evolutionportfolios through:periodic rebalancing,quarterly clientstatements and regular portfolio reviews conducted by CI Multi-Asset Management
Wealthplanningexpertise
At $250,000 the Financial Plan and Estate Plan are available.
At $1 million, our Regional Wealth Planners can help you gather data and present the Financial Plan and Estate Plan.
Evolution Private Managed Accounts services are managed by CI Investments Inc. (“CII”), under the United Financial brand. CII provides portfolio management and investment advisory services as a registered advisor under applicable securities legislation. This document has been prepared for use by United Financial and is intended solely for information purposes. It is not a sales prospectus, nor should it be construed as an offer or an invitation to take part in an offer.
Evolution Private Managed Accounts are available exclusively through the advisors of Assante Capital Management Ltd. (member – CIPF), Assante Financial Management Ltd.
Commissions, trailing commissions, management fees and expenses may all be associated with investments in Evolution Private managed Accounts and the use of the Asset Management Service. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the United Funds prospectus and consult your advisor before investing. United Financial and the United Financial design and Signature Global Asset Management are trademarks of CI Investments Inc. ®CI Investments, the CI Investments design, Evolution, Cambridge, Harbour Advisors, Harbour Funds, Assante Wealth Management and design and Stonegate Private Counsel are registered trademarks of CI Investments Inc.
CI INVESTMENTS15 York Street, Second Floor Toronto, Ontario M5J 0A3Telephone: 1-888-664-4784 Fax: 1-888-664-4785 E-mail: [email protected] www.assante.com/unitedfinancial 1612-2183 (02/17)