How We Are Paid: About Fees and Commissions
Each working day we strive to provide our clients with the highest level of personalized service and advice on their financial life planning and wealth management needs. In addition to providing clients access to a full suite of financial, investment and risk management products, we provide in-depth advice and planning services in a wide range of areas associated with financial life planning and wealth management, including vision planning, investment planning and asset allocation, tax and estate planning, cash flow planning and risk management. We made a deliberate and conscious choice many years back to structure our compensation, to the extent possible, in complete alignment with our clients’ financial goals and objectives. We want our financial success to be tied directly to our clients’ success.
To this end, we have established a firm compensation policy which is largely based on investment assets under management. Under this approach, depending on the investment asset holding structure or the product involved, a flat fee or a trailing service commission is drawn from investment assets. This income from the portfolio is received by Manulife Securities Inc. or by Manulife Securities Insurance Services Inc. and paid to 360 Private Wealth advisors based on a compensation grid established by Manulife Securities Inc. or by Manulife Securities Insurance Services Inc. To clarify further and provide additional transparency, we are paid for our services from the following 5 sources:
- Fees drawn on client accounts managed on a fee basis under the Manulife Securities Premier Investment Program (arranged through Manulife Securities Incorporated and/or Manulife Investment Services Inc.), paid out to us based on a compensation grid established by Manulife Securities. These fees are calculated and charged monthly or quarterly, based on an annual percentage rate agreed to in advance, either on an flat-rate per account basis or, on an individual asset class basis. The percentage rate drawn declines as household assets under management increase as set out in the Premier Investment Program Agreement. There are normally, no additional fees, commissions or charges normally levied on Premier Investment Program accounts above the Premier Investment Program fee. Exceptions will be fully disclosed and agreed to in advance. For more information on the Manulife Securities Premier Investment Program, please refer to the Premier Investment Program Client Brochure.
- Where a client is not in the Premier Investment Program, from trailing service fees (also known as trailing service commissions) on managed money products like mutual funds and segregated funds (arranged through Manulife Securities Incorporated or Manulife Investment Services Inc. or Manulife Securities Insurance Services Inc.). These trailing service fees and commissions are calculated and paid monthly, quarterly or annually (depending on the company and product) to Manulife Securities or Manulife Securities Insurance Services Inc. by the various managed-money companies and then paid out to us based on a compensation grid established by Manulife Securities. There are normally no front-end load commissions charged nor do we use deferred sales charge (DSC; also known as “back-end” load) purchase options, except in exceptional circumstances. Exceptions will be fully disclosed and agreed to in advance.
- In the case of securities (stocks, bonds and exchange traded funds) in accounts held with Manulife Securities Incorporated, where a client is not in the Premier Investment Program or where a client is in Premier Investment Program and they have exceeded their free trade allotment, from commissions charged on securities trades (purchases and sales; accounts with Manulife Securities Incorporated only) disclosed and agreed to in advance of any transactions. Commissions are collected at the time of securities purchases and sales and paid out based on a compensation grid established by Manulife Securities Incorporated.
- Commissions from life, disability or health insurance products placed with various insurance companies, paid to us based on commission schedules established by the insurance companies and compensation grids established by the Managing General Agent organizations we place this business with.
- In special situations, subject to time availability, on an hourly, fee-for-service basis, for specific financial life planning services in situations where we do not have an investment or risk management product relationship or the compensation drawn from an investment or risk management product relationship is insufficient to cover the cost of providing services. A description of work to be performed and associated fees are disclosed and agreed to in advance. Any fees payable by the client are payable to Manulife Securities and paid out to the advisor based on a compensation grid established by Manulife Securities.
We will reconfirm compensation details on each new investment transaction we make on a client’s behalf.
If you require and additional information or have any questions regarding fees or commissions associated with doing business with 360 Private Wealth Management, please call or email us.
This material has been prepared to provide information on the products and services offered through your Manulife Securities Incorporated (MSI) or Manulife Securities Investment Services Inc. (MSISI) Advisor. Manulife Securities is a Trade Name used by the related companies MSI (an Investment dealer) and MSISI (mutual fund dealer) and Manulife Securities Insurance Inc. (an insurance distributor operating as a national account agency). More information regarding fees can be found in section 10 in the Important Client Information Brochure - MSI and MSISI.