Advisor Guide - ci.com€¦ · Advisor Guide. Why Evolution Private Managed Accounts? Be empowered by an innovative solution tailor-made for your clients. Experience holistic wealth

Advisor Guide

Why Evolution Private Managed Accounts?

Be empowered by an innovative solution tailor-made for your clients. Experience holistic wealth management customized

to meet your clients’ needs today and as they evolve.

Experience EVOLUTION.

Comprehensive research and a disciplined investment approach

■ State Street Global Advisors (SSGA) provides

comprehensive forward-looking return expectation

research and portfolio recommendations.

■ CI Multi-Asset Management uses SSGA’s research and

recommendations to construct the portfolios, and

selects the best managers for each asset class.

■ Actively managed strategic asset allocation portfolios

designed to capture evolving market and economic

opportunities.

Multiple investment strategies

■ Personalized investment strategies may be applied to

portfolio solutions and remain actively managed.

Premier portfolio management

■ Access to award-winning money managers, including

Signature Global Asset Management, Harbour Advisors

and Cambridge Global Asset Management, through an

industry leader – CI Investments.

The Evolution advantage: enhanced portfolios and practice management efficiency

2

3

Competitive fee structure

■ Pricing options to accommodate high net worth portfolios.

Tax-efficient investing

■ Tax-efficient investment processes.

■ Corporate Class structure distributes only the most

tax-efficient forms of income and is designed to

minimize annual dividends.

■ Tax-efficient source of stable monthly cash flow

with T-Class option.

Consolidated simplified reporting

■ Comprehensive Investment Policy Statement.

■ Quarterly statements consolidated at the family group level.

■ Annual detailed tax packages.

Wealth planning support

■ Financial and estate planning for clients.

■ Regional wealth planning support with over

$1 million of assets.

Evolution’s efficient strategic asset allocation portfolios

are crafted to capture evolving market opportunities. The

considerable asset mix research and recommendations of

SSGA and its Investment Solutions Group are carefully

blended with the portfolio construction expertise of

CI Multi-Asset Management.

State Street stays on top of more than 100 global marketsWith US$2 trillion* in assets under management, 27 offices

worldwide and more than 2,500 employees, State Street

Global Advisors is one of the largest investment management

companies in the world and operates in more than 100

global markets.

State Street Global Advisors: recommendations and research with global reach

4

*As of June 30, 2016

SSGA and its Investment Solutions Group are asset allocation

experts. They calculate portfolio mixes that offer the highest

return for each level of risk. The key inputs into this process

are their long-term asset class forecasts for risk, return

and correlation. Their risk and correlation estimates rely

heavily on analyzing historical data spanning numerous

market environments. Historical findings and relationships

are further adjusted for any sustainable changes observed

within current market environments in order to establish a

forward-looking assessment. SSGA’s total return estimates

are generated through a combined assessment of current

valuation measures, corporate earnings, economic growth,

inflation forecasts, and historical risk premiums for the various

asset classes. CI Multi-Asset Management uses this research

and these recommendations as the basis for designing,

developing and constructing the Evolution portfolios.

State Street Global Advisors: asset allocation specialists

Low Risk/Low Return

High Risk/High Return

Portfolios below the curve are not efficient because for the same risk one could achieve a greater expected return.

Under our approach, active management decisions keep all portfolios on the ever-shifting efficient frontier. The objective is to outperform the reference benchmark for any given level of risk.

RETU

RN

VOLATILITY

Efficient Portfolios

5

CI Multi-Asset Management is an in-house group of professionals

who believe effective portfolio construction is driven by asset

allocations that are strategic and forward looking. This provides

opportunities to capture maximum return for a given level of risk,

and recognizes that investment opportunities and risks change

over time. Also, each asset class should be diversified by style

so that returns are not dependent on one investment approach.

Finally, portfolio managers should be selected because they are

the best for that asset class or style.

The CI Multi-Asset Management team is responsible for choosing

the portfolio managers, ongoing due diligence and overall

program management. The team’s proprietary program for

the monitoring of managers, as well as its portfolio-building

techniques, incorporate a best practices approach to ensure the

managers adhere to their investment mandates over time. The

team oversees $35 billion of assets (as of June 30, 2016) in

various managed solution programs for clients of CI Investments.

CI Multi-Asset Management builds the portfolios

Monitoring & risk control

Manager selection

Efficient asset allocation

Diversification

Client portfolios

High-quality securities

6

1. Review State Street Global Advisors’ recommendations –

to see if any adjustments to the asset allocations are required

so there are no unintended duplications between managers,

or inappropriate sector, country or currency exposures.

2. Select each manager using our proprietary program, based on:

■ Proven philosophy and process

■ Resources that include team dynamics and experience

■ Historical track record

■ How they complement each other and add value to

the overall program.

We favour managers who excel at security selection and are

not afraid to differentiate their portfolios from the benchmark

index. Also, managers of each mandate are given discretion

to create their own portfolio that may be concentrated and

benchmark agnostic, attributes that we believe add value.

A disciplined investment process designed to achieve results

Capital Markets Research

Asset Allocation

Portfolio Strategy

Manager Selection

Implementation/ Trading

Review and Control

7

Strategic asset allocation is used to create optimized

portfolios that are actively managed. Evolution is a

comprehensive platform, incorporating portfolios that:

■ Accommodate any level of risk tolerance

■ Are located on an efficient frontier

■ Apply investment strategies that satisfy clients’

unique needs.

Portfolio solutions for any investor

Income focus Equity focus

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VOLATILITY

8

Every asset class has distinct characteristics and will perform

differently in response to market changes but it’s difficult

to predict which will outperform. To reduce risk, careful

consideration must be given to the asset mix of a portfolio

to avoid putting too much reliance on any one asset type.

This chart shows calendar year returns for seven broad-based

asset classes (in Canadian dollars) and how their relative

performance has varied over time.

Diversification: maximum potential in all market cycles

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Best 38.37% 56.56% 10.23% 8.83% 8.72% 42.71% 16.70% 30.16% 32.98% 19.13% 6.40% 75.10% 38.53% 9.66% 15.60% 48.54% 24.34% 21.0%

Ass

et C

lass

Per

form

ance

29.48% 31.69% 7.41% 8.09% -0.91% 28.89% 14.47% 24.11% 27.24% 9.82% -18.93% 54.65% 20.34% 4.30% 14.89% 41.66% 14.72% 18.8%

9.20% 20.28% 7.32% 3.67% -7.16% 26.74% 14.13% 19.69% 18.68% 3.67% -22.86% 35.05% 17.61% -2.12% 13.38% 31.93% 10.55% 14.0%

4.84% 19.76% 0.47% 3.45% -12.45% 21.46% 11.84% 10.30% 17.25% 2.01% -30.28% 14.44% 13.08% -8.71% 13.04% 12.99% 8.79% 3.5%

-1.59% 14.07% -5.81% -6.40% -16.69% 14.78% 9.64% 6.47% 16.63% -4.87% -33.00% 9.88% 9.16% -9.84% 7.19% 7.76% 7.38% 1.9%

-17.90% 13.87% -10.85% -12.57% -21.47% 6.70% 7.13% 1.48% 16.13% -10.09% -42.66% 9.24% 6.74% -14.17% 3.60% 4.58% 4.46% - 8.3%

Worst -19.66% -1.14% -28.10% -16.33% -23.06% 6.14% 2.74% 1.16% 4.04% -16.09% -46.61% 5.42% 2.65% -16.42% 2.46% -1.19% -0.09% -17.5%

Source: Bloomberg

International Equities – MSCI EAFE Index U.S. Equities – S&P 500 Composite Total Return Index Emerging Market Equities – MSCI Emerging Markets Free Index Canadian Bonds – FTSE TMX Universe Bond Total Return Index U.S. Small Cap – Russell 2000 Index Canadian Equities – S&P/TSX Composite Index Canadian Small Cap. – BMO Nesbitt Burns Cdn Small-Cap Index

9

Portfolio rebalancing

■ Over time, as different asset classes perform at different

rates, portfolios deviate from the original asset allocation.

■ Portfolios will be rebalanced to keep within the guidelines

set out in the customized Investment Policy Statement for

each investor.

Ongoing decision-making by the investment managers

■ Constant review and management of the investment

securities within each portfolio.

■ Anticipate and quickly respond to changing market

conditions with their day-to-day tactical actions to capture

opportunities and minimize risk.

Maintaining diversification while minimizing risk

10

40%

22%

20%

18%

—

—

—

—

Income and Real Estate

Canadian Equity

U.S. Equity

International Equity

This results in the portfolio being rebalanced back to Target

28%

22%

20%

30%

—

—

—

—


Canadian Equity

U.S. Equity


Scenario:Market Fluctuations

40%

22%

20%

18%

—

—

—

—


Canadian Equity

U.S. Equity


Target Mix40i60e

11

We regularly review the portfolios and the overall asset

mixes and make use of ongoing support from SSGA as we

implement our active management strategy. If required,

portfolios are adjusted as market conditions change to

ensure they remain efficient – because as markets change, so

should your clients’ portfolios. This ensures that your clients

continue to fully participate in the upside of the market while

remaining within their risk comfort zone.

Changes as a result of the active management* through

our annual portfolio review are applied automatically, which

means your clients never have to worry about portfolios

straying off course or having to decide which individual

investments to buy or sell as markets change.

Annual portfolio review: actively managed strategic asset allocation

Ensuring portfolios stay on the efficient frontier

Revised Portfolio

Revised Frontier

Portfolio

Efficient Frontier

Original Frontier

Original Portfolio

RETU

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VOLATILITY VOLATILITY

The charts show a change to the efficient frontier where returns are revised for the same level of risk. Certain asset classes with the potential for higher returns have become less volatile, allowing more exposure to these asset classes, without altering the level of risk. As such, actively modifying the portfolio keeps it in tune with the current investment environment.

* Active management is subject to certain restrictions.

12

Once the base portfolio is created, Evolution allows you

to incorporate personal investment strategies, all with the

confidence of knowing that we will still actively manage the

portfolio, keeping your client’s individual investment strategy

on track.

Every client has needs or preferences that differ from one

another; that’s why Evolution is built with the flexibility

to apply five investment strategies that allow infinite

combinations of custom portfolios to meet any objective.

After assessing your client’s particular objectives, you can

apply any of the following five strategies:

Multiple investment strategies: apply five levels of personalization

Geographic Style Alpha Currency Portfolio Manager

1 2 3

3

4 5






4

3

5

2

1

13

Geographic allocationDiversifies equities across geographic regions by applying a

standard, Canadian or global focus.

■ Standard allocation provides balanced exposure to

the markets

■ Canadian focus increases exposure to the energy and

material sectors

■ Global focus offers greater exposure to consumer

discretionary and consumer staples, information

technology and telecommunication sectors.


1 2 3

3

4 5






4

3

5

2

1

Investment management styleDifferent styles tend to shine in different economic

environments. The broad range of available mandates

through Evolution can accommodate any investor.

■ Blend of 60% Value, 40% Growth is the default

allocation

■ 100% Value style is also available, or

■ Customize any balance between value and growth styles.


1 2 3

3

4 5






4

3

5

2

1

14

Alpha investingEvolution offers concentrated equity portfolios that invest in

select portfolio managers’ best ideas, with a focus on absolute

returns and reducing risk.

■ Incorporate alpha mandates to access portfolios not

directly correlated to any benchmark.

■ Managers have been selected based on their proven track

record to outperform the benchmark.

■ Mandates available in Canadian, U.S. and international

equities.

Multiple investment strategies: (continued)


1 2 3

3

4 5






4

3

5

2

1

Currency hedgingAchieve global equity diversification and minimize portfolio

risk with reduced exposure to currency fluctuations.

■ In addition to the standard dynamic currency hedging

program employed for the United U.S. equity mandates

and the U.S. exposure of the United real estate

investment mandates, 100% currency hedging strategies

are available for United’s U.S. equity value and

international equity value mandates.


1 2 3

3

4 5






4

3

5

2

1

15

Portfolio management preferencesEvolution offers a broad selection of award-winning portfolio

managers, allowing for the utmost flexibility in meeting your

clients’ objectives with over 50 mandates.

The portfolios are built with recommended funds based on

the previous four strategies, but a portion or all of a fund

can be replaced with any other fund within the same asset

class, allowing you to create a more tailored style mix for your

client. Alternatively, you can use a fund that falls outside of

the asset class, with certain restrictions, if you would like to

customize the overall asset mix of the portfolio*.


1 2 3

3

4 5






4

3

5

2

1

* While all asset mixes are rebalanced on an ongoing basis, selecting a fund that is outside of the asset class may limit our ability to actively manage the asset mix.

16

Add stability to your portfolio using separately managed strategiesEvolution provides for additional flexibility in meeting your

financial goals through the use of separately managed

accounts. The account is held outside of your long-term

portfolio and is focused on cash and income investments.

This structure allows you to:

■ Add stability to your retirement strategy by using the cash

account for withdrawals during market declines, which

maintains the growth potential of the long-term portfolio.

Withdrawals during a down market can have an outsized

impact on the value of a portfolio and reduce its expected

lifespan. This is because the portfolio has less time to

recover during retirement, while more units have to be sold

to generate the same cash withdrawal.

■ Incorporate both short-term savings goals and long-term

objectives into one investment program.

■ Use a dollar cost averaging strategy, in which regular

investments are made into the long-term portfolio over time

rather than investing in one lump sum. During periods of

volatility, this strategy may result in purchases being made

at lower average prices.

■ Have access to CI U.S. Income US$ Pool – a true U.S. dollar

mandate. This options gives you direct exposure to U.S.

dollar-denominated securities by investing primarily in a

diversified portfolio of income-generating assets domiciled

in the U.S.

Separately Managed Accounts

17

G5|20 in EvolutionG5|20 Series uses an innovative approach in which advanced

risk management and investment strategies are focused on

the goal of generating a stable retirement cash flow and

maximizing the value of the investment.

A guaranteed cash flow solution offering:

■ 5% guaranteed cash flows for 20 years, backed by Bank

of Montreal and the guaranteed asset value is reviewed

periodically to lock in a portion of market gains to increase

the guaranteed cash flow

■ Flexible investment mandate provides downside protection

in bear markets and takes advantage of opportunities in

bull markets

■ Tax-efficient cash flow for non-registered accounts (payments

are substantially characterized as return of capital)

■ The choice to select between taking income immediately by

selecting G5|20i or to start taking income five years after

their initial investment in G5|20

■ By investing in G5|20 series you can refine your investment

strategy with a guaranteed income stream solution in

addition to your managed portfolio.

Clients can refine their investment strategy by allocating a

portion of the managed portfolio to G5|20 in the separately

managed account which allows for an additional constant

stream of income. Regardless of how market volatility affects

the managed account portion of the overall portfolio, a

guaranteed stream of income will still be available.

18

Access to unparalleled portfolio management We use in-house and external managers based on their proven track record in their areas of expertise.

19

Signature Global Asset Management’s Morningstar Awards

include the prestigious Morningstar Fund Manager of the

Decade in 2010, and Morningstar Equity Fund Manager of the

Year in 2009, won by Eric Bushell, Chief Investment Officer.

CI Multi-Asset Management won Morningstar’s award for Best

Fund of Funds program in 2011, 2012 and 2013.

The following portfolio management teams have won

fund-specific categories from Morningstar and Lipper:

■ Signature Global Asset Management

■ CI Multi-Asset Management

■ Cambridge Global Asset Management

■ Harbour Advisors

■ Black Creek Investment Management

■ Altrinsic Global Advisors

■ Epoch Investment Partners

■ Picton Mahoney Asset Management

■ QV Investors

We use in-house and external managers based on their proven track record in their areas of expertise. The performance of Evolution’s portfolio management teams has been recognized through 31 Morningstar Awards over the past 10 years and 56 Lipper Fund Awards since 2007.

20

1. Mandates are managed across family

accounts

■ All registered and non-registered accounts are viewed

as a single portfolio, allowing us to strategically allocate

investments for the greatest tax efficiency.

■ Investments are allocated across family accounts to take

advantage of tax-sheltered registered plans and members

with lower tax rates.

2. Corporate Class: tax efficiency for

non-registered assets

■ Corporate Class mutual funds are structured as shares

of a corporation rather than the traditional mutual

fund trust.

■ The Corporate Class structure distributes only the most

tex-efficient forms of income and is designed to minimize

annual distributions.

Tax-effective investing To minimize taxes, we manage assets differently than other firms.

21

Evolution offers a flexible T-Class option, providing a solution

for investors seeking sustainable and tax-efficient cash flow

without sacrificing the potential for growth. T-Class provides

regular monthly payments while minimizing the pain of

taxation since distributions are classified as return of capital

(ROC). The annual payout can be customized to a specific dollar

amount or a specific percentage between 0.25% and 8%*.

This chart compares the net amount a client can expect to

receive of $10,000 worth of cash flow, depending on how

it’s generated.

ROC distributions reduce the adjusted cost base (ACB). Over

time, the ACB may fall to zero, in which case the T-Class

payments will be treated as capital gains – which are still

taxed at favourable rates. Please note that T-Class may pay

taxable annual dividends.

T-Class: flexible tax-efficient cash flow

* The actual payout (which cannot exceed 8%) may vary from year to year since it is based on the fund’s net asset value per unit at the beginning of the year.

$4,500$5,500

$7,300

$2,200

$7,800

$2,700

$10,000

Interest Income Dividend Income Capital Gains Return of Capital

The difference in the after-tax value of $10,000 in income from interest, dividends, capital gains and return of capital*

After-tax amount

*Assumes a tax rate of 45% on interest income, 27% on dividend income and 22% on capital gains. Tax rates based on an average of the highest combined federal and provincial personal income tax rates.

Taxes paid

22

Investors can’t control the markets or performance of

portfolios, but they can control what they pay to invest.

Evolution offers a fee schedule that gives individual investors

a competitive pricing process.

Two pricing options are available:

■ Tiered pricing (Class I)

- Ideal for larger accounts given the progressive pricing

- Ideal for non-registered assets given the potential for

tax-deductibility of the fees

■ Embedded fee option (Classes E and A)

- Ideal for registered accounts in IPs between $250,000*

and $500,000, given the pricing is equivalent to the

second Class I tier

■ Combine both options if your client has both

non-registered and registered accounts.

Competitive fee structures

* Assets that do not meet the $250,000 minimum, but are over $100,000 may be charged an additional fee to access the Evolution services.

23

Class I (Includes management and administration fees)

The Class I option ensures that pricing is applied progressively to larger asset bases.

Assets Fee Classification

(Determined by the Class I assets in the Investment Policy Group)

Money Market

Domestic/U.S. Income

Global Income

Canadian Equity

Foreign Equity

REIT / Gold / Emerging

Markets

Tier 1 ($250,000 – $500,000) 0.70% 0.85% 1.25% 1.25% 1.25% 1.35%

Tier 2 ($500,001 – $1,000,000) 0.65% 0.80% 1.10% 1.10% 1.10% 1.20%

Tier 3 ($1,000,001 – $3,000,000) 0.60% 0.75% 1.05% 1.00% 1.05% 1.15%

Tier 4 ($3,000,001 – $5,000,000) 0.55% 0.65% 0.85% 0.80% 0.85% 0.95%

Tier 5 ($5,000,001 – $10,000,000) 0.50% 0.60% 0.75% 0.70% 0.75% 0.85%

Tier 6 (Over $10,000,000) -------------------------------------------------- Negotiable --------------------------------------------------

Class I Account Agreement Fees are billed and redeemed quarterly based on daily net asset value of the account(s).

The Investment Advisory Fee range is 0% to 1.25%. The fees indicated above are before the Investment Advisory Fee and applicable taxes.

Class E (Embedded Series)

The Class E option is set up so that all regular fees are included in the daily net asset valuation.

Fee Ranges

Fee Classification Management Fee Administration Fee

Money Market 1.00% –

Domestic/U.S. Income 1.25% – 1.75% 0.17% – 0.20%

Global Income 1.75% 0.18%

Canadian Equity 1.90% – 2.00% 0.20%

Foreign Equity 1.90% – 2.25% 0.21% – 0.22%

REIT / Gold / Emerging Markets 1.90% – 2.25% 0.22% – 0.28%

To calculate total fees of a portfolio, management fees, administration fees and any applicable taxes must be applied to each mandate. The embedded management fee includes a 1.00% trailing commission for ISC, 0.5% for DSC, 0.65% for IDSC and 0.50% for LL units.

* Assets that do not meet the minimum but are over $100,000 may be charged an additional fee of 0.15% for Class I and 0.35% for Class E to access the Evolution services.

24

Evolution Private Managed Accounts includes an Investment

Policy Statement, portfolio analytics, quarterly statements and

an annual tax package.

Investment Policy Statement (IPS)The Evolution IPS offers your clients a comprehensive overview

of their Evolution portfolio and investment plan, displaying

the following:

■ Their responses to their Investment Profile Questionnaire

■ Customized portfolio, including specific fund targets

■ Evolution’s tax optimization process, including the

benefits of Corporate Class, and

■ Return expectations.

Portfolio analyticsOur portfolio analytics provides you with historical and

positioning information for any Evolution portfolio,

as follows:

■ Country weighting

■ Historical portfolio returns including requested

cash flow per year

■ Periodic rolling returns, and

■ Fund correlation matrix.

Evolution simplifies risk management, reporting and tax preparation

25

Quarterly statementsWe produce a consolidated statement at the end of each

quarter that consolidates all accounts within an Investment

Policy Group. This displays the market values of each account,

transactions and the overall asset mix.

Annual tax packageOur annual tax package offers simplicity and comprehensive

reporting for your clients’ non-registered accounts, by

providing information on:

■ Capital gains and losses

■ T5 showing dividend income or capital gains, if there

have been any Corporate Class dividends

■ Fees charged to the account, if the client holds Class I

shares (and may therefore benefit from tax deductibility).

26

In order to provide you with flexibility and efficiency to both

meet your clients’ needs and provide easy integration into

your practice, Evolution offers you access to wealth planning,

depending on the asset level:

At $250,000 – the Financial Plan and the Estate PlanThese two plans are questionnaire-driven and can be

completed separately or together by you and your client.

Once the questionnaire is submitted, our team of financial

planning professionals, and lawyers work on a customized

plan based on your client’s circumstances.

Financial PlanThe Financial Plan focuses on providing answers to clients’

questions about their financial goals and objectives:

■ What do they have today?

■ Will it be enough to meet their needs?

■ What happens if things change, how much more or less

can they spend?

■ What is the likelihood of the outcome? (probability

analysis, included at your request)

The Financial Plan is also designed to offer the option of

including a section that will help you to identify insurance

needs and opportunities, addressing questions regarding

death, disability or critical illness.

Evolution offers you powerful wealth planning support

27

Estate PlanThe Estate Plan addresses the following client concerns:

■ Outlines current circumstances regarding your client’s

intentions for distribution of assets, and calculate

projected tax liability on death

■ Consideration of tax-efficient plans for distribution

of assets

■ Recommendations for the will to ensure it reflects the

client’s wishes and is structured in a tax-efficient manner

■ Recommendations for beneficiary designations for

retirement plans, insurance policies and tax-free

savings accounts

■ Recommendations for powers of attorney for property,

financial and health care decisions.

At $1,000,000 – our Regional Wealth Planners can help you gather and present the Financial Plan and Estate Plan

28

■ Minimum $250,000* initial investment (across family

accounts) with preferred pricing

■ State Street Global Advisors’ research from markets

across the globe forms the basis for our strategically

allocated portfolios

■ Portfolios are actively managed by CI Multi-Asset Management

■ Award-winning portfolio managers

■ Wide choice of investment mandates, including

alpha mandates

■ Dynamic currency management of the U.S.

equity mandates

■ Flexible fee options — available in Class I and

Embedded Series

■ Truly tax efficient on multiple levels — allocation of

investments and corporate class

■ Easy-to-use advisor interface provides portfolio analytics

and customized Investment Policy Statement

■ Detailed reporting — quarterly consolidated client

reporting, annual tax packages

■ Financial Plan and Estate Plan to assess overall financial

situation and provide information on tax, financial and

estate planning strategies

■ Separately Managed Accounts and G5|20 in Evolution are

also available as well

Evolution Private Managed Accounts: Quick facts

* Clients with investable assets above $100,000 may access the Evolution services for an additional fee.

29

The Evolution six-step process

Applyinvestmentstrategies

Implement IPSand account

administration

Ongoingportfoliosupport

Determineportfolio

Define investmentgoals and

risk tolerance

Consider client’s investment objectives, tolerance for risk and investment time horizon.

Determine which of the nine model portfolios isappropriate for the client.

Apply managementor style preferencesto ensure that theportfolio best suitsclient’s needs. Portfolio analyticsare available tosupport the investment decision.

Apply the following investment strategies where applicable:

1. T-Class2. Separately Managed3. G5|20 in Evolution

Generate a customizedInvestment PolicyStatement to reflectthe client’s profileand choices. Submit the order to Evolution Administration via an easy-to-use interface.

We will continuouslysupport Evolutionportfolios through:periodic rebalancing,quarterly clientstatements and regular portfolio reviews conducted by CI Multi-Asset Management

Wealthplanningexpertise

At $250,000 the Financial Plan and Estate Plan are available.

At $1 million, our Regional Wealth Planners can help you gather data and present the Financial Plan and Estate Plan.

Evolution Private Managed Accounts services are managed by CI Investments Inc. (“CII”), under the United Financial brand. CII provides portfolio management and investment advisory services as a registered advisor under applicable securities legislation. This document has been prepared for use by United Financial and is intended solely for information purposes. It is not a sales prospectus, nor should it be construed as an offer or an invitation to take part in an offer.

Evolution Private Managed Accounts are available exclusively through the advisors of Assante Capital Management Ltd. (member – CIPF), Assante Financial Management Ltd.

Commissions, trailing commissions, management fees and expenses may all be associated with investments in Evolution Private managed Accounts and the use of the Asset Management Service. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the United Funds prospectus and consult your advisor before investing. United Financial and the United Financial design and Signature Global Asset Management are trademarks of CI Investments Inc. ®CI Investments, the CI Investments design, Evolution, Cambridge, Harbour Advisors, Harbour Funds, Assante Wealth Management and design and Stonegate Private Counsel are registered trademarks of CI Investments Inc.

CI INVESTMENTS15 York Street, Second Floor Toronto, Ontario M5J 0A3Telephone: 1-888-664-4784 Fax: 1-888-664-4785 E-mail: [email protected] www.assante.com/unitedfinancial 1612-2183 (02/17)

Documents

Advisor Guide - ci.com€¦ · Advisor Guide. Why Evolution Private Managed Accounts? Be empowered by an innovative solution tailor-made for your clients. Experience holistic wealth