Upcoming Changes - Notice to Clients
Roger Quirion, will be transferring registration from Manulife Securities Investment Services Inc. (MSISI) to Manulife Securities Incorporated (MSI). By making this change it will provide a more comprehensive range of products and services to help meet individual financial planning needs. MSISI is an independent distributor of mutual funds, RRSPs, RRIFs, Group RRSPs, and other investment products. MSI offers all of this, as well as stocks, bonds and tax assisted investments.
By moving to Manulife Securities Inc. (MSI) the regulator governing the business is the investment Industry Regulatory Organization (IIROC) of Canada. The primary mandate of IIROC is to protect you, the investing public, and they have strict requirements with respect to reporting to clients. MSI is also a member of the Canadian Investor Protection Fund (CIPF). CIPF membership provides additional coverage for your plans. For more information about CIPF, please refer to the website www.cipf.ca
Roger plans to transfer from MSISI on December 12 2014, and will shortly thereafter apply for registration under the Investment Industry Regulatory Organization of Canada (IIROC). Subject to regulatory approval Roger will be issued a restricted licence with IIROC and transfer registration to Manulife Securities Incorporated (MSI).
Under the restricted licence Roger can continue to provide advice on mutual funds to existing clients. After a 90 day probationary period ending March 13 2015, an unrestricted IIROC licence is expected to be received that will allow Roger to provide advice on individual stocks and bonds and other securities in addition to mutual funds.
In order to meet regulatory requirements for the transition from MSISI to MSI, we need to get explicit approval from all of Roger's clients. We will be contacting all clients to sign a letter that requests approval to move the accounts from Manulife Securities Investment Services Inc. to Manulife Securities Incorporated. Your signature on this letter provides explicit approval that you (the client) understand the changes and consent to move to an IIROC registration. This letter needs to be returned to our office.
If you have any questions as we make this transition please do not hesitate to call.