You pay one low management fee once per quarter
Our management fee includes:
Please note that if you use VirtualWealth as part of a package of services through an investment advisor or representative at your financial institution, you may pay an additional service fee.
Your management fee depends on how much you invest, based on this table:
|Portfolio value||Annual rate|
|First $2,000 to $100,000||0.60%|
|Above 1 million||0.35%|
Note: The fee is charged once per quarter, based on the daily average value of your portfolio during the quarter.
If Sophie invests $10,000, her total annual management fee would be $60.00 or about $5.00 per month.
If she invests $250,000, her total yearly management fee would be $1350.00, or about $112.50 per month.
To help minimize your fees, if you have more than one VirtualWealth account in your name, or if other people in your household have VirtualWealth accounts, the management fee for each account will be calculated based on the aggregated value of all the accounts.
VirtualWealth’s portfolios are made up of low-cost exchange-traded funds and mutual funds. All ETFs and mutual funds have embedded management fees and expenses (known as the MER, which stands for management expense ratio). The MERs are charged by the underlying investment companies. These fees are not collected by VirtualWealth, but do represent an additional cost to investors. The MERs are relatively low, and are the same that would apply if you purchased the funds on your own. The MERs are not charged directly to you and will not appear as an expense on your account statement.
The average blended MERs for a portfolio will depend on your asset mix. Typically, for ETF portfolios they are less than 0.15% and for responsible investing portfolios they are in the range of 0.72%-0.96%.
Responsible investing portfolios have additional layers of scrutiny
and require higher levels of active account management, as such they
tend to have higher MER fees than traditional portfolios.
Here are the fees that apply to administration requests.
|Partial deregistration of a registered account (excludes TFSA and RESP)||$50|
|Full deregistration of a registered account||$125|
|Transfer-out of an account - full and partial||$150|
|Account closure within 1 year||$100|
|Cheque requests (per request) (no charge for electronic fund transfers to your bank account)||$10|
|Paper statement requests (per quarter)||$6|
|Paper trade confirmation requests (per trade)||$2.50|
|Estate settlement of an account (minimum)||$250|
Note: Also see the VirtualWealth Customer Agreements & Disclosure Documents booklet for a description of interest charges and foreign currency conversion that may be applicable to your account.
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