We're sorry to see you leave Mercer Invest Wise but we understand that sometimes plans change and you may need to move your account elsewhere. We're happy to say that we do not charge any fees to transfer out your account!
Initiating the transfer out
That being said, all transfers out must be initiated by the receiving institution (the institution to which you are moving your account to). They will have their own transfer form for you to complete and sign, and they will initiate the transfer out with our back office, Canadian ShareOwner Investments Inc. Here are some details they may request:
- Relinquishing Institution: Canadian ShareOwner Investments Inc.
- Address: 862 Richmond St. W, Suite 201, Toronto, ON M6J 1C9
- Phone: 647-535-3404 Fax: 647-245-1002
- Email: email@example.com
- FINS# T003 CUID# CSIT DLR# 7829 REP# HX1
You will also need your account number which you can find on any of your account or trade confirmation statements or on page two of the Investor Policy Statement.
Different transfer types
When transferring accounts, institutions can send transfer requests through different delivery channels. If your institution is ATON eligible, the request must be submitted via ATON. Otherwise, we accept transfer requests via email, fax or mail. It will take approximately 2-4 weeks for your funds to be transferred out, but if there are any delays with the transfer, we will be directly contacting your institution. At that point, they will need to coordinate with you to resolve any issues before the transfer out can be completed.
We don't yet have a feature that enables you to directly track the status of the transfer out. However, if you have initiated an in-cash transfer out, you will see that the assets in your portfolio will first be liquidated. It will take approximately 4 days for us to trade and settle the funds, at which point the funds will then be sent to your institution.
It is also important to note that once your transfer out has been initiated, you will no longer be able to withdraw funds from that account because they being prepared to be sent to your institution.
If you have any questions about transferring your account, please let us know by reaching out via phone at 1 855-866-8844 or email us.