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Assante Private Client reduces management fees as part of new flexible pricing model


Assante Private Client (APC) has announced enhancements to its comprehensive wealth management offering for affluent Canadians, including a significant reduction in management fees and other pricing changes, and measures to improve the tax efficiency of clients’ investment accounts.

APC, a division of CI Private Counsel LP, is a multidisciplinary program available to high net worth clients of Assante Wealth Management. APC provides comprehensive wealth planning that integrates discretionary money management, tax-optimisation strategies, estate planning and personalised advice for a holistic approach to wealth management.

“High net worth families today value highly personalised experiences in all facets of their lives and this is no different when it comes to wealth management,” says Jaime Ross, APC President. “Not only does our new pricing model offer exceptional value, it is fully transparent and enables advisors and clients to tailor pricing to the level of complexity, service and overall client experience.”

APC uses a tiered management fee model that gives clients progressive discounting as their invested assets grow. The new schedule launched this month has reduced management fees by an average of 25 per cent and has consolidated the number of tiers for greater simplicity. In addition, APC has unbundled the management fee from the advisor service fee to give advisors and their clients more flexibility.

Additional changes allow for more flexible and tax-efficient use of distributions in non-registered accounts. Distributions can now be used for fee payments, portfolio rebalancing, or for reinvestment into their portfolios, based on their personal tax situation.

“These initiatives significantly strengthen Assante Private Client and will support our advisors and in-house wealth planning experts in servicing existing clients and attracting new high net worth clients to the program and their practices,” says Damon Sutherland, Senior-Vice President, Sales and Wealth Services at APC. “When paired with previous enhancements made over the past year, the flexible fee solutions reinforce our commitment to provide a customised experience for the specific life and legacy goals of each family.”

The changes announced today follow updates implemented a year ago when administration fees were reduced on the APC investment pools and alternative investment strategies were added to the lineup of investment choices.

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