Please be advised of the following Money Movement Timelines and Processes.
Systematic Plans:
Source of Funds for Systematic plans and Investment of PAC Plans:
SWP/RIF/LIF: Effective immediately, all RIF/LIF/SWP plans will be required to have proceeds generated from the model portfolio assigned to the account. Any plans that are not currently running from the assigned model portfolio (i.e. Non-Core Positions) will result in one of the following:
1. Any SWP plans that do not have sufficient funds allocated towards the account’s assigned model will be canceled.
2. Any RIF/LIF plans that do not have sufficient funds allocated towards the account’s assigned model will result in a stop payment being placed and the remainder of the minimum payment being set for processing at the end of year.
For any SWP/RIF/LIF pans that are canceled or stopped, a notification will be sent to the Portfolio Manager to make the necessary adjustments.
PAC: All PAC plans will be invested in accordance with the account’s assigned model. Any PAC plan not currently investing into the account’s assigned model will be amended to the account’s assigned model.
Time Required for setting up Systematic Plans:
SWP/RIF/LIF: To modify, stop, or create a SWP/RIF/LIF plan, a minimum of 14 Calendar Days notice is required in advance of the effective date. Requests submitted within 14 Calendar Days of the effective date will be rejected.
PAC: To modify, stop, or create a PAC plan, a minimum of 7 Calendar Days notice is required in advance of the effective date. Requests submitted within 7 Calendar Days of the effective date will be rejected.