What
is The Mackenzie Private Client Program?
The Mackenzie Private Client Program is a comprehensive
wealth management service available to advisors
serving high net worth private clients and eligible
family members. The Mackenzie Private Client
Program is comprised of two components:
- The Portfolio Architecture Service for
asset management, and
- Private Client Tax and Estate Planning
Services for a comprehensive family tax and
estate summarization.
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What is the Private
Client Group?
The Private Client Group is a dedicated business
group at Mackenzie Financial that is solely
responsible for servicing advisors who in turn
serve high net worth private clients and their
eligible family members. The Mackenzie Private
Client Group is solely responsible for The
Mackenzie Private Client Program.
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What are the
benefits of the Private Client Program?
- Access to Institutional Series Shares:
Reserved for high net worth investors and
institutions. Available on an extensive selection
of offerings and with management fees up
to 37% less than their Mackenzie retail class
counterparts (as at June 30, 2003).
- Tax efficiency: Maximum use of Mackenzie
Capital Class I shares in taxable accounts.
The Capital Class structure has proven to
be an invaluable resource in constructing
portfolios for high net worth investors and
offers:
- potential tax deferral on capital gains
distributions,
- tax deferral on regular rebalancing,
- unique tax efficiencies not available
in a segregated portfolio solution.
- Monitoring and Rebalancing: A highly disciplined
process assures that each portfolio is
monitored and, if necessary, rebalanced on
a periodic basis to meet risk and
return objectives.
- Annual Review: The Private Client Group
initiates an annual review process with your
advisor in order to ensure your portfolio
is always attuned to your risk preferences
and capacities over the years.
- Enhanced Reporting and Communication:
- A comprehensive, state-of-the-art quarterly
report that includes market commentaries,
transactions, portfolio holdings and
performance reporting at both the individual
account and security level with comparisons
to industry benchmarks.
- Option of consolidated statement or
separate statement for each account.
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What is the
account minimum for the Private Client Group?
$500,000 held with Mackenzie. This amount can
be held in one account or multiple accounts
of eligible family members.
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How is the investor’s
asset mix determined?
The Private Client Group analyzes investor
responses to a comprehensive questionnaire
and determines the optimal asset mix for the
investor’s objectives. Equity weighting
adjusted in 1% increments for fine-tuning of
asset mix to objectives.
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What is
the Portfolio Architecture Service?
Mackenzie Private Client’s Portfolio
Architecture Service (PAS) is a high-end, fully
customized portfolio management program available
to high net worth investors and their families.
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What role does Mercer
Investment Consulting (Mercer IC) play?
The Portfolio Architecture Service is designed
with consulting assistance from Mercer IC,
a global investment consulting organization.
Mercer IC provides general input on investor
profiling tools, asset allocation and manager
selection. All final decisions are made by
Mackenzie.
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Which investment
firms take part in the Portfolio Architecture
Service?
The following firms manage funds available
to the Portfolio Architecture Service:
- AGF
- AIM Trimark
- Alliance Capital
- Beutel Goodman
- Bissett
- Bluewater Investment Management
- Cundill
- Elliott & Page
- Franklin Templeton
- Henderson
- Ivy
- Mackenzie
- Saxon
- Waddell & Reed
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What are
the tax advantages of this program?
The Portfolio Architecture Service makes maximum
use of Mackenzie Capital Class I shares in
taxable accounts. The Capital Class structure
has proven to be an invaluable
resource in constructing portfolios for high
net worth investors and offers:
- potential tax deferral on capital gains
distributions,
- tax deferral on regular rebalancing,
- unique tax efficiencies not available in
a segregated portfolio solution,
- domestic property status: ease of portfolio
construction, monitoring and rebalancing.
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How will
I know when my account needs rebalancing?
The Private Client Group monitors your portfolio
on an ongoing basis and will contact your advisor
when your portfolio needs to be rebalanced.
Your representative will discuss the optimal
and most tax efficient way to rebalance the
portfolio.
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Describe
the Tax and Estate Planning Services component
of the Private Client Program.
Mackenzie Private Client Group investors with
$500,000 or more in the Portfolio Architecture
Service are given the opportunity to receive
a complimentary personal Tax and Estate Summary
Report covering major issues affecting their
overall tax and estate plan.
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What does the
Tax and Estate Summary Report include?
The Tax and Estate Summary Report includes:
- A personal letter from Sandy Cardy, head
of Mackenzie’s Tax and Estate Planning
Services, outlining your personal tax and
estate strategy issues;
- Tax issues related to your estate plan:
- An assessment of your current tax situation
and strategies to reduce your tax bill,
- An estimate of the final tax bill on
investments, real estate and registered
plans, and ways to reduce the tax bill
due on death,
- An estimate of probate tax and methods
to reduce probate tax.
- Tax planning to assist beneficiaries in
retaining more of their inheritance:
- Need for family trust,
- Spousal testamentary trusts and family
testamentary trusts;
- Estate planning documentation
- Preparing a will,
- Creating a power of attorney;
- Insurance – A general discussion
of insurance needs, including types of insurance
(e.g. life, disability, critical illness,
long term care and business insurance); and
- Other Issues: charitable donations, designation
of principal residence, a review of beneficiary
designations, funeral pre-planning and any
other strategies unique to your tax and estate
situation.
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