Frequently Asked Questions
Funding & General Questions
You can fund your account by setting up an electronic bill payment through online banking, completing an EFT (Electronic Funds Transfer) or doing a wire transfer.
To setup an electronic bill payment, add a new payee. When asked, search for “NBIN Financial Services” and type in your account number with Kernaghan & Partners Ltd.
Once the account is officially opened, we will get to work right away investing your funds into the portfolio of ETFs. Usually this will take a day or two. You will be able to check your holdings through our online portal, simply click on the ‘Client Login’ button in the top right.
Setting up weekly or monthly recurring deposits is a great way to grow your savings over time.
To setup automatic recurring deposits to your investment account, you will need to fill out our EFT (Electronic Funds Transfer) Form.
Depending on when you make the contribution to your RESP, it can take anywhere from 6 to 10 weeks to receive a corresponding government grant.
March 1, 2021 is the deadline for contributing to an RRSP for the 2020 tax year
The TFSA contribution limit for 2021 is $6,000. Since inception, you can contribute a total of $75,500.
To transfer a registered account (RRSP, TFSA, etc) you will need to complete our Registered Account Transfer form.
Simply contact your Kernaghan & Partners Ltd. Investment Advisor for a wire transfer, EFT (Electronic Funds Transfer), or a cheque.
Our custodian is National Bank Independent Network, which is where you account is held. To view your account holdings, visit: https://myportfolioplus.ca/ or click the “Client Login” button in the top right corner.
Opening A New Account
Simply fill out our online New Client Account Application Form and we will get started opening your account. The New Account button is located at the top right of the website. Please note that the account can’t be officially opened until we receive a copy of your drivers license (both sides) and a void cheque. We require both in order to verify your identity.
Accounts available for Kernaghan & Partners Ltd. Private Clients:
- Cash CAD
- Cash USD
- DAP CAD
- DAP USD
- Margin CAD
- Margin USD
- Margin short CAD
- Margin short USD
- LIRA/RSP CAD
- LIRA/RSP USD
- LIF
- Spousal RRSP CAD
- Spousal RRSP USD
- RRSP CAD
- RRSP USD
- RRIF
- TFSA CAD
- TFSA USD
- Hypothecation
- Spousal RRIF
- RESP
- RDSP
Accounts available for Kernaghan & Partners Ltd. Wealth Group
- Cash
- RRSP
- RRIF
- TFSA
- RESP
The minimum account size for the Kernaghan & Partners Ltd. Wealth Group is $25,000. There is no account minimum for Private Client accounts, however each of our Investment Advisors have their own minimum client account size.
In order to verify your identity we require a copy of your drivers license and a void cheque which you can either attach to the new account online application form, attach to a message from our contact page, or email it to us directly.
Kernaghan & Partners Ltd. Wealth Group
Exchange Traded Funds (ETFs) give investors access to professionally managed, well diversified, low fee portfolios of securities. By combining an account of ETFs, investors gain exposure to a globally diversified portfolio containing multiple asset classes, without having to pay high fees.
Kernaghan & Partners Ltd. Wealth Group Accounts are charged a monthly fee at an annualized rate of just 0.5%.
(Additional annual fees may apply to registered accounts)
Kernaghan & Partners Ltd. Private Client is our personal advisory service offering tailored investment solutions to clients.
Kernaghan & Partners Ltd. Wealth Group helps pair clients with globally diversified baskets of ETFs that match their risk profile, all while maintaining an account with ultra low fees.
Our online Wealth Exam determines your risk tolerance and presents an example of an account which may be suitable to your investment needs. Upon completing our New Client Account Application Form, we will review your information to determine which asset weightings are appropriate.
Kernaghan & Partners Ltd. Wealth Group is not a robo advisor, although we’ve tried to make investing as easy and affordable as possible.
Upon completion of the New Account Application Form, we will contact you with a framework for which weightings of ETFs we think are right for you. If you agree, we will deploy your funds across those ETFs.
Your account will be reviewed periodically to make sure that your asset allocation is inline with the agreed upon weightings.
You can track your performance through the monthly statements you receive (if you signed up to receive physical statements) or you can track your progress through our online web portal. To view our online web portal, click on the “Client Login” button in the top right, or go to https://myportfolioplus.ca/
Kernaghan & Partners Ltd. Wealth Group is designed to be an simple and low cost answer to investing. If you are looking for a more sophisticated portfolio, you may be find a more tailored solution with our Private Client Group.
Account transfers to Kernaghan & Partners Ltd. Wealth Group must be done in cash. Your previous broker will sell your holdings and the funds will be transferred to Kernaghan & Partners Ltd.
Account transfers to Kernaghan & Partners Ltd. Private Client can either be done in cash or in kind.
Fees
Private Client fees are agreed upon with the Investment Advisor. They are either a percentage of the assets in the account or a straight commission per transaction. Please note there are additional fees for registered accounts. Please see our Fee Schedule for a complete list of fees.
Kernaghan & Partners Ltd. Wealth Group clients are charged a monthly fee at an annual fee of 0.5% for assets held in your account (one of the lowest in the industry).
RRSP, TFSA, RESP, RRIF, LIF, LIRA, and RDSP accounts all have an annual fee of $100 (plus tax).
Service charges and fees can have a significant effect on investment returns and decisions. That’s why it’s our policy to minimize service charges and fees. In most cases, they represent only the costs we incur from other financial institutions. In all instances, they are competitive with industry standards.
Click here for a full list of our fees.
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