Q:  If I withdraw money, how long does it take for it to be processed?
A:  It takes 3 business days from the Trade Date (the day we receive your request, if before 4pm).

Q:  What is the cut-off time for trade requests?
A:  Requests must be in by 4pm on any day that the TSX is open for business. For third-party funds (self-directed accounts), the cut-off is 3:30pm.

Q:  Do you accept faxed and e-mailed requests?
A:  We accept faxed requests, as long as they are signed.  We accept e-mailed requests, but only if your signature can be scanned.  If e-mailing a request, please direct it to an advisor and call to ensure they received the e-mail.

Q:  Can you give me information on my spouse’s account?
A:  Privacy laws do not allow us to give out any information on any accounts but your own. The only time we can release customer information to a third party is if there are Powers of Attorney on file.

Q:  Can my family join Educators Financial Group?
A:  Educators Financial Group’s services and products are available to people in the education community and their immediate family – e.g., parents, siblings, grandparents, uncles and aunts.

Q:  How do you get paid if you have no fees and have a not-for-profit mandate?
A:  We get paid out of the MERs (Management Expense Ratios).  The MER is the cost of running the fund.  It is taken out of the fund and not your personal account.

Q:  Are there any fees for withdrawing or switching my funds around in my account?
A:  No.

Q:  Do I have to complete the Know Your Client information?
A:  Yes, you do.  We are required to have an up-to-date KYC on file.  If we do not, we will not be able to perform certain transactions on your account.

Q:  What do you use the information for?
A:  We use it to help you, the client, invest according to the information you provide to us.  We are committed to helping you invest your funds according to your objectives, risk tolerance, time horizon and overall financial situation.

Q:  How often do you send statements?
A:  Statements are sent quarterly. You may view your account online at no cost. Call us today for details on how to get your PIN number.

Q:  Can you move funds around in my account for me?
A:  We cannot process any transactions without your written direction.

Q:  Can you take requests over the phone?
A:  Yes we can, if a limited trading authorization form has been completed.

Q:  How do I open an account?
A:  You must complete an Investment Application Form.  You can download it from our website, under Forms or you can call our office and we will mail you the appropriate form.

Q:  How do I purchase Educators Financial Group Funds?
A:  If you are a new client you must complete an application form and return it to us with a cheque payable to Educators Financial Group.  If you are an existing client, you can either complete a Transaction Request Form, which can be found on our website under Forms, or send us a letter and a cheque payable to Educators Financial Group.  Please make sure to include your account number, the funds you want to buy and your signature.

Q:  How do I redeem funds from my account?
A:  We require written authorization from you or verbal instructions providing you have a limited trading authorization in place. Please include the account number, the amount you would like to withdraw and your signature. For registered accounts, please specify Net or Gross and keep in mind that there are tax consequences when withdrawing from an RRSP.  

Q:  How do I switch funds within my account?
A:  We require written authorization from you or verbal instructions providing you have a limited trading authorization in place. Please include the account number, the amount you would like to withdraw and your signature.

Q:  Are there any fees for withdrawing or redeeming funds from my account?
A:  There is a $125 fee plus GST for the full transfer of holdings in a registered account (excluding RESPs) to another financial institution.

Q:  Can I transfer my other funds to Educators Financial Group?
A:  Yes, you can transfer funds in kind or in cash.

In Kind – is a transfer of investments from your current institution to Educators Financial Group.  You would still hold the same investments but your account would be registered to Educators Financial Group.

In Cash – is a transfer where the cash equivalent of your current investments is sent and you purchase new mutual funds at Educators Financial Group.  Your current investments are sold and a cheque is sent to Educators Financial Group for deposit to your account to purchase new funds. There are no tax consequences for transfers in cash when the transfer is from one RRSP to another. A cash transfer of funds from a non-registered account may trigger tax consequences such as capital gains or losses.

Q:  Do you offer other funds?
A:  Yes – almost all other mutual funds in Canada are available from Educators Financial Group.