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Fees

Here at Chris Raper & Associates, we are committed to transparency – accordingly, here is a breakdown of our fee structure.

There are two basic types of accounts – “fee-based”, whereby there are no charges for individual transactions, instead a monthly fee is payable based on the market value of your account; and “commission-based”, whereby we get paid for each purchase and sale of a security.

Fee-Based Accounts

This is by far our most common account type (~80% of our business) and is applicable to our discretionary investment program, The Dividend Value Discipline™.

The fee for The Dividend Value Discipline™ program is 1.75%. It is calculated (and charged) on the third Monday of each month, by simply taking the previous month-end account value, multiplying that figure by 1.75% and then dividing it by 12. It is also worth noting that if any mutual funds are held in the account that pay us a “trailing fee”, the value of these are excluded from the calculation, i.e. there is no double-dipping.

It is also possible to have a non-discretionary fee-based account under the Raymond James “Viridian” program. Typically, these are smaller accounts (under $50,000), and our standard Viridian rates are 1.75% on equities, 1.00% on fixed income (bonds), 1.00% on “F-class” mutual funds (ones that do not pay us a trailing commission), and 0% on cash.

Fees within both of these programs are subject to GST or HST, and are tax deductible when generated from investments in non-registered accounts.

Commission-Based Accounts

Under this account structure, we get paid for each purchase and sale of a security. The commissions depend on the asset class – they are as follows:

  • Common Shares – 2% per transaction (minimum $125). Transactions that have a gross value of over $25,000 may be subject to a discounted rate – please contact us for a quote.
  • Preferred Shares – 1% per transaction (minimum $125).
  • Bonds and Debentures – 1% per transaction (minimum $75 on individual bonds, $125 on exchange-traded funds).
  • GICs – 0% per transaction. You will receive the rate that we quote you, and in turn, we will be paid a yearly commission from the GIC issuer ranging from 0.125% to 0.35%.
  • Mutual Funds – Our preference is to purchase these on a 0% “front-end load” basis. There is no charge for each purchase and sale, instead the mutual fund company pays us a trailing commission of typically 1%.

Services Fee Schedule

Click here for a schedule of fees for various services that we offer. Please note that RRSP/RRIF/RESP/TFSA annual administration fees, as well as RRSP & RRIF de-registration fees, are waived for “fee-based” accounts.

On a final note, we do receive commissions when selling insurance policies as well as new issues (an IPO, for example), and are happy to disclose these at the time of purchase.