RESP Archives - 3i Financial

Terms of Use

3iwebdev — Wed, 16 Jun 2021 16:58:55 +0000

Terms of Use

FULL & FAIR DISCLAIMER

If you access and use this Website (the “Site”), you accept and agree to be bound by and comply with these terms (the “Terms”). If you do not accept the Terms, do not use the Site.

The Site is operated by 3i Financial Group Inc. and 3i Financial Investment Services Inc. and these Terms may be modified or revised without notice. Your use of the Site following any modification/revision constitutes your agreement to follow and be bound by these changes. If any of these changes are unacceptable to you, please immediately cease your use of the Site.

The services of providing mutual fund, RRSP, RESP, labour sponsored funds and other investments plans are offered through “3i Financial Investment Services Inc.” The services of providing life insurance and other non-investment plans are offered through “3i Financial Group Inc.” Both are separate legal entities.

3i Financial Investment Services Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and licensed to distribute mutual funds.

MUTUAL FUNDS

Commissions, trailer fees, management fees and expenses all may be associated with mutual fund investments or other securities. Please read the prospectus before investing.

The indicated rates of return of a mutual fund are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns.

Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

LEGAL

These Terms are governed by and shall be construed in accordance with the laws of the Ontario without giving effect to any principles of conflicts of law. If any provision of these Terms shall be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and shall not affect the validity and enforceability of any remaining provisions.

These Terms are effective unless and until terminated by 3i Financial Group Inc. and 3i Financial Investment Services Inc. All images, logos and trademarks are copyright and the property of their respective owners.

NOT OFFERING ADVICE

The materials posted on 3i Financial website are not intended to provide specific advice or recommendations for any individual/business. It is intended for general information only. You should not be acted or relied upon without seeking the advice of a professional. All contents and information are believed to be from verified sources. 3i Financial makes no representation as to its completeness or accuracy.

TRADEMARKS & COPYRIGHTS

Certain names, words, titles, phrases, logos, graphics, designs, and other content (including copyright-protected content) on this website are subject to intellectual property rights and are owned 3i Financial or by third parties servers.

These materials shall not be copied, modified, downloaded, reused, sold, reproduced, transmitted, licensed, published, displayed, or used for public or commercial purposes without 3i Financial express written permission.

Tags: Legal, Terms of Use

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CIRO & FRSA regulations

3iwebdev — Wed, 16 Jun 2021 16:50:46 +0000

CIRO | FSRA Regulations

3i Financial is governed by the rules and regulations as set forth by the Canadian Investment Regulatory Organization (CIRO) for investments products; and by the rules and regulations of the Financial Services Regulatory Authority of Ontario (FSRA) with respect to insurance products.

The key to long-term financial success is as a client, you have access to sound and objective financial advices. By asking the right questions, you will be able to determine if there are any conflicts of interest apparent in your relationship with your advisor, or with any of the products or services that are offered. For example:

Is a company only offering to broker certain products and not others because the payout on these products is higher as compared to other more suitable products?
Is a company only offering its own proprietary products although there may be other better performing products available in the marketplace?

When seeking guidance with respect to your finances, it is very important to find a company that is both competent and ethical. The next step would be to choose a financial advisor who displays the same characteristics. This decision should not be taken lightly as you will be providing them both with your personal information and should have confidence that this information will not be misappropriated. Financial Advisors are governed by the Know Your Client rule, this is important because for any advisor to provide effective service and prudent advice, they must have all the relevant client information at their disposal in order to make an assessment based on a needs analysis and finally to offer professional advice.

At 3i Financial, what matters to us is the performance of the products that we utilize to match our client’s needs. We expend significant effort to ensure that we only offer the best products and services to our clients from the strongest providers in the financial industry. We then monitor those products, and companies on an ongoing basis to be sure that they remain the best for you. Since we deal with a large number of mutual fund and insurance companies’ products, we are free to choose the ones that we believe will perform the best.

What to expect from your Financial Advisor

To deal with you fairly, honestly, and in good faith.
To gather all the pertinent information from you in order to better understand your financial needs and objectives.
To make recommendations consistent with your needs, objectives, and risk tolerance.
To fully disclose any risks associated with the recommendations they make.
To avoid any conflicts of interest and refrain from acting in any way that could potentially create a conflict of interest.

Lastly, to obtain your express authorization in advance of every transaction entered into while acting as an agent on your behalf.

Tags: FSRA, MFDA, Regulations

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Business Investments

3iwebdev — Fri, 11 Jun 2021 19:13:30 +0000

Business Investment

Why Choose Business Investments?

At 3i Financial Investment Services Inc, we work in partnership with businesses by offering our financial expertise to help create and add value to your organization. Our advisors are dedicated and experienced to understand the unique financial needs of your business. Our 3i Business Financial Plan is tailored to take your business further by managing the risks. We can get you professional advice from lawyers, bankers, mortgage brokers, accountants and etc…to make business recommendations specific to your need and assist in the execution of your 3i Business Financial Plan.

Business Investment Programs

Non-Registered Investment Plans

DPSP’s (Deferred Profit Sharing Plans) & Payroll Savings Plans

Contributions are a tax deductible expense and are not a taxable benefit to the plan member. Employers can contribute an amount up to 9% of the employee’s current annual earnings to the maximum contribution limit
Help employees saves for their future.

Individual Corporate Accounts

Helps with everyday banking, savings and investing.
Helps to ensure you file taxes accurately and separately from personal accounts.
Eligible to deduct business expenses from your tax return.

Registered Investment Plans

IPP’s (Individual Pension Plan)

Provides maximum tax-deductible contributions for your retirement and gives you more flexible benefit settlement options. Allows you contribute a higher amount.

DCRPP’s (Defined Contribution Registered Pension Plans)

Provides employees with an income at retirement. Contributions are exempt of payroll taxes for employers.

RESP’s (Registered Education Savings Plan)

An investment vehicle that allows caregivers to save up for their children’s post secondary education.
Pays up to 20% of a child’s annual contribution up to an annual maximum of $500 or a lifetime maximum of $7200 until the beneficiary reaches the age of 17.

RRSP’s (Registered Retirement Savings Plan)

Invest in your future by reducing your taxable income with contributions.
Can access funds in your RRSP to help buy your first home or pursue further education.

DPSP’s (Deferred Profit Sharing Plans)

Allows companies to share profits with employees.
Provides tax incentives and allows vesting periods for vesting period and employers contributions.

Sources: Canada Revenue Agency, Investopedia, Moneysense

Find Out More

Tags: DCRPP's, Deferred Profit Sharing Plans, Defined Contribution Registered Pension Plan, DPSP's, Individual Corperate Accounts, Individual Pension Plan, IPP's, Non Registered Investments Plans, Payroll Savings Plan, Registered Investments Plan, RESP

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RDSP

3iwebdev — Thu, 10 Jun 2021 19:47:23 +0000

RDSP

What is a Registered Disability Savings Plan (RDSP)?

The Registered Disability Savings Plan (RDSP) is a registered savings plan specifically designed for Canadians with disabilities and their families to save for a long-term financial needs.

The plan allows a person who is eligible for the federal disability tax credit to accumulate up to $200,000 in contributions on a tax-deferred basis.

Who is eligible?

To qualify for an RESP, a beneficiary must:

Be eligible for Disability Tax Credit (DTC)
Be a Canadian resident
Have a valid Social Insurance Number (SIN)
Less than 60 years of age

Benefits

As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms.

Tax-sheltered earnings

The money you contribute grows tax-free until is taken out.
Get government contributions

The major benefit is that you still qualify for the great government benefits. The federal government matches up to 30% through grants and extra funding for low-income families. There are two funding programs to help you save: Canada Disability Savings Grant (CDSG) and Canada Disability Savings Bond (CDSB).
Easy access when you need it

Withdrawals can be done for any purpose that benefits the person with disability.

Make the most out of your RDSP

Source: Canada Revenue Agency

Contact a 3i Financial Advisor today to see how an RDSP can help you save!

Find Out More

Tags: Tax Sheltered

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Segregated Funds

3iwebdev — Thu, 10 Jun 2021 19:20:52 +0000

Segregated Funds

What is Segregated Funds?

A segregated fund is used by insurance companies to manage individual, variable annuity insurance products. Segregated funds are insurance investment products that are similar to mutual funds; however, segregated funds must be issued in conjunction with a life insurance contract. Segregated funds investor may qualify for RESP, TFSA, RDSP and RRSP.

IVIC’s (Individual Variable Insurance Contracts)

IVIC’s are deferred annuity contracts between the policy owner and the insurance company. The policy owner makes deposits and the insurance company then invests the money in segregated funds.

Some Benefits Includes:

Guaranteed maturity values from 75-100% of your principal after 10 years.
Some segregated fund contracts also offer income guarantees.
Segregated funds investment may also be protected from creditors.
Provide a broad range of investment options similar to mutual funds.

Find Out More

Tags: Individual Variable Insurance Contracts, IVIC's

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RRSP

3iwebdev — Thu, 10 Jun 2021 17:50:38 +0000

RRSP

What is a A Registered Retirement Savings Plan (RRSP)

A Registered Retirement Savings Plan (RRSP) is a personal savings account registered with the Canadian government to help individuals accumulate capital on a tax-deferred basis for their retirement including tax deductions. The objective is to help individuals grow their savings in a tax free environment to secure an income during retirement years.

Who qualifies?

Advantages

There are various types of RRSP including: individual, spousal, group, and pooled RRSP each with its own benefits. Nevertheless, they all share one common advantage, and that is the tax benefits

Tax deductions

Reduce your taxable income with contributions.

Tax deferral

While in RRSP, your investments can grow on this a tax-deferred account

Income Splitting

The higher income-earning spouse can contribute in their spouse's RRSP.

Canadian government programs

Access funds in your RRSP to help buy your first home or pursue further education.

Contribution Limits

There is a contribution limit on RRSPs accounts, also known as a “deduction limit” which is the maximum amount you can contribute in a given year. To find out the exact amount, check on your most recent Notice of Assessment from the CRA.

As a guideline, your allowable RRSP contribution for the current year is the lower of:

18% of your earned income from the previous year
The maximum annual contribution limit for the current tax year
The remaining limit after any company sponsored pension plan contributions

Year	Contribution Limit
2026	$33,810
2025	$32,490
2024	$31,560
2023	$30,780
2022	$29,210

Source: Canada Revenue Agency

Not sure how much to save?

Contact a 3i Financial Advisor today to see how an RRSP can help your retirement planning and reach your retirement goals.

Find Out More

Tags: Old Age, Pension, Tax Advantages

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TFSA

3iwebdev — Thu, 10 Jun 2021 17:22:38 +0000

TFSA

What is a Tax-Free Savings Account (TFSA)?

The Government of Canada introduced the Tax Free Savings Account (TFSA) in 2009 to provide Canadians with a personal savings vehicle, tax free.

Who qualifies?

Canadian residents with a valid Social Insurance Number (SIN) and is 18 years of age or older.

Note: Non-residents may be eligible to open a TFSA account; however, contributions are subject to tax.

Advantages

As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms.

Contribution limit

The amount that you can contribute to your TFSA is limited to your contribution room.

The annual TFSA dollar limit for each of the years from 2009 to 2026 are:

Year	Annual Contribution Limit
2024-2026	$7,000
2023	$6,500
2019 to 2022	$6,000
2016 to 2018	$5,500
2015	$10,000
2013 and 2014	$5,500
2009 to 2012	$5,000

Source: Canada Revenue Agency

Contact a 3i Financial Advisor today to develop a plan that ensures you to take advantages of the tax-free savings strategies of a TFSA

Find Out More

Tags: Future Goal

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Individual Investment

3iwebdev — Wed, 09 Jun 2021 19:14:49 +0000

Individual Investments

Why Choose Individual Investments?

At 3i Financial Investment Services Inc, we provide a wide range of individual investment services that are tailored to you. Our advisors will guide you with proper investment strategies. We will help you reach your financial short term to long term goals with our 3i Personal Financial Plan.

Investing is an effective way to build your wealth. Investing will benefit you by helping you to save for your children’s education, help with taxes, save money for retirement and setting up charitable donations.

Some of the account types we offer include: Regular RRSP, Spousal RRSP, LIRA, LIF, RRIF, RDSP and RESP’s.

Some of the Individual Investments Programs

RRSP (Registered Retirement Savings Plan)

Lower your taxes by investing in your future. A lower tax bracket when you retire, withdrawals will be at lower rate.

TFSA (Tax-Free Savings account)

Save for a future goal tax free. Offers more flexibility and less taxes.

RESP (Registered
Education Savings Plan)

Help your child with a boost for their post-secondary education. Pays up to 20% of up to $2,500 annually. Contribute to lifetime limit of $50,000.

RDSP (Registered Disability Savings Plan)

Help a love one with disabilities for long term goals. Plan can grow faster as taxes are deferred on investment income and capital gains.

Find Out More

Tags: Registered Education Savings Plan, RESP

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RESP

3iwebdev — Wed, 09 Jun 2021 17:47:00 +0000

RESP

What is a Registered Education Savings Plan (RESP)?

A Registered Education Savings Plan (RESP) allows parents and guardians to accumulate the necessary funds to finance a child’s post-secondary education.

The federal government allows you to accumulate investment income on a tax-sheltered basis until the funds are withdrawn.

Who can open an RESP?

Anyone who has an interest in providing a child with funds for their education!

Parents
Legal Parents
Grandparents
Friends

Who is eligible?

To qualify for an RESP, a beneficiary must:

Be a Canadian resident
Have a valid Social Insurance Number (SIN)

Advantages

As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms. Investments grows tax free until a withdrawal is made.

Canada Education Savings Grant

Pays up to 20% of a child’s annual contribution up to an annual maximum of $500 or a lifetime maximum of $7200 until the beneficiary reaches the age of 17
Canada Learning Bond

Pays $500 plus an extra $100 per year up to the age of 15 to beneficiaries who were born after December 31st, 2003.
Additional matching grants for low incomers

Families with net annual incomes of less than $49, 020

The cost of Post-Secondary school

Projections for an average student’s tuition fees and cost of living away from home have been projected to reach $118,010 in 2030. The illustration shows how the cost of living increases over time. Statistics Canada revealed that university tuition fees have risen 135% in the past 10 years

Sources: Canada Revenue Agency, Investopedia, Statistics Canada.

Contact a 3i Financial Group Advisor today to see how an RESP can help you save for your child’s education.

Find Out More

Tags: Education, Future, Post Secondary, Registered Education Savings Plan, RESP, School

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Resolving your complaints

3iwebdev — Wed, 09 Jun 2021 17:32:55 +0000

Resolving your Complaints

At 3i Financial, one of our organizational goals is service excellence. As a leading financial services broker, we take great pride in providing our clients with objective unbiased advice enabling them to achieve their financial goals. We value your business and we are dedicated to building long-term relationships with you.

We value your feedback because that is what helps us to better meet your needs. If you would like to provide us with a compliment, constructive feedback, or to lodge a complaint, we encourage you to follow the procedures listed below so that we can work to resolve your issue in a timely manner.

For full details on the complaint process, please download this PDF document.

Contact 3i Financial Investment Services Inc. Head Office

Member firms are responsible to you, the investor, for monitoring the actions of their representatives to ensure that they are in compliance with by-laws, rules and policies governing their activities. Please contact our Head Office by calling 905-597-5000 and ask to speak to the Customer Relations Manager. Alternatively, if you prefer, you can mail, fax, or email it to the attention of the Customer Relations Manager.

Mail in attention to Customer Relations Manager to 9040 Leslie Street, Suite 221, Richmond Hill, ON L4B 3M4
By Fax: (905) 597-8366
By e-mail: customerrelations@3ifinancial.com

Please include your full name, address, telephone number, the best time to reach you, and explain clearly all the details. The Customer Relations Manager will investigate the matter and will respond back to you in a timely manner.

Contact the Canadian Investment Regulatory Organization (CIRO)

CIRO is a self-regulatory organization in Canada to which your Mutual Fund Dealer is a member. CIRO investigates complaints about its regulated firms and their representatives, and takes enforcement action where appropriate. You may make a complaint to the CIRO at any time, whether or not you have complained to your Mutual Fund Dealer. CIRO can be contacted:

By completing the on-line complaint form
By telephone in Toronto at (416) 361-6332 or toll free at 1-888-466-6332
By e-mail at complaints@ciro.ca
In writing by mail to 121 King Street West, Suite 1000, Toronto, ON M5H 3T9
By Fax at (416) 361-9073

https://ciro.ca

Contact the Office of the Ombudsman for Banking Services and Investments (OBSI)

OBSI provides an independent and impartial process for the investigation and resolution of complaints about the provision of financial services to clients. OBSI can make a non-binding recommendation that your firm compensate you (up to $350,000) if it determines that you have been treated unfairly, taking into account the criteria of good financial services and business practice, relevant codes of practice or conduct, industry regulation and the law. The OBSI process is free of charge and is confidential. OBSI can be contacted:

By telephone in Toronto at (416) 287-2877, or toll free at 1-888-451-4519
By e-mail at ombudsman@obsi.ca

https://www.obsi.ca/

Additional Information:

3i Financial Group Inc. is regulated by the Financial Services Regulatory Authority of Ontario (FSRA) for insurance products. 3i Financial Investment Services Inc. is regulated by Canadian Investment Regulatory Organization (CIRO) for mutual fund products. 3i Financial is a participating firm with the Ombudsman for Banking Services and Investments (OBSI).

*Clients who choose to communicate by e-mail should be aware of possible confidentiality issues regarding internet communications.

Tags: Investment Services

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RESP Archives - 3i Financial

Terms of Use

Terms of Use

FULL & FAIR DISCLAIMER

MUTUAL FUNDS

LEGAL

NOT OFFERING ADVICE

TRADEMARKS & COPYRIGHTS

CIRO & FRSA regulations

CIRO | FSRA Regulations

What to expect from your Financial Advisor

Business Investments

Business Investment

Why Choose Business Investments?

Business Investment Programs

Non-Registered Investment Plans

Registered Investment Plans

RDSP

RDSP

What is a Registered Disability Savings Plan (RDSP)?

Who is eligible?

Benefits

Tax-sheltered earnings

Get government contributions

Easy access when you need it

Make the most out of your RDSP

Segregated Funds

Segregated Funds

What is Segregated Funds?

IVIC’s (Individual Variable Insurance Contracts)

RRSP

RRSP

What is a A Registered Retirement Savings Plan (RRSP)

Who qualifies?

Advantages

Tax deductions

Tax deferral

Income Splitting

Canadian government programs

Contribution Limits

TFSA

TFSA

What is a Tax-Free Savings Account (TFSA)?

Who qualifies?

Advantages

Contribution limit

Individual Investment

Individual Investments

Why Choose Individual Investments?

Some of the Individual Investments Programs

RESP

RESP

What is a Registered Education Savings Plan (RESP)?

Who can open an RESP?

Who is eligible?

Advantages

Canada Education Savings Grant

Canada Learning Bond

Additional matching grants for low incomers

The cost of Post-Secondary school

Resolving your complaints

Resolving your Complaints

Contact 3i Financial Investment Services Inc. Head Office

Contact the Canadian Investment Regulatory Organization (CIRO)

Contact the Office of the Ombudsman for Banking Services and Investments (OBSI)

Additional Information: