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Mutual Funds / Segregated Funds

Over 4000 mutual/segregated funds;
AGF BMO Beutel Goodman
Bissett Canada Life Canoe Financial
CI CIBC Clarington
Dynamic Equitable Life Fidelity
Franklin/Templeton Great West Life Invescol Trimark
MacKenzie Manulife NBC
Nexgen RBC Sunlife
TD Transamerica Life Wawanesa

The following table outlines some of the key differences between




Structure Trust or corporation Insurance policy
How regulated Securities regulators Insurance regulators
Main disclosure document Prospectus Summary Information Folder
How sold Brokers, dealers, fund company reps Insurance agents, brokers
Death Benefits None Up to 100%
Maturity Guarantee None Up to 100% after 10 years
Reset options None Up to 4 times/year
Creditor protection None Yes, depending on named beneficiary
Taxation* All income and capital gains taxable in a mutual fund must be distributed to unitholders, prorata, on a particular day (the record date) near year-end, resulting in a drop in the fund’s price. Actual distribution of income and capital gains is not required. Instead, it is allocated for tax purposes. No change in the fund’s value or price.
Probate fees** Probate fees payable None

* Taxation - complete comparison is available by contacting us.
** Probate fees were recently challenged in the Supreme Court of Canada.
*** Mutual Funds provided by Sterling Mutuals Inc. Insurance Products provided by Schilling Financial.