Automated Subscription Portal
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When you sign this Investment Account Application, you confirm that you understand and agree that:
All accounts: You MUST provide HOOVEST with a blank cheque marked VOID so that an original cheque corresponding to your banking information is on file.
The federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act requires HOOVEST to verify each investor’s identity using a variety of options. The options suggested for investors who meet in person with a representative of HOOVEST, and for Canadian resident investors who do NOT meet in person with a representative of HOOVEST are described above under Account Information. If you are an investor who is not resident in Canada or is otherwise unable to provide the information described, HOOVEST will be required to verify your identity using other acceptable means prior to permitting you to open an investment account. Please contact HOOVEST using the information below under How to Contact Us to confirm the steps required to comply with these alternative requirements.
Additional requirements for joint accounts: Joint accounts require additional measures to ensure federal identity requirements are met.
There is no such thing as risk-free investing. For your accounts, we ask you to define your risk tolerance as “high”, “medium to high”, “moderate”, “low to medium”, or “low”. Risk tolerance is defined as your comfort level with fluctuations in the value of your investments. It can be quantified as the amount of volatility that you can accept in an investment, or the percentage decline in the value of your portfolio under normal market conditions. Risk tolerance differs from person to person. A conservative (low-risk) investor is primarily concerned with safety of capital and is willing to accept lower long-term returns in exchange for greater peace of mind. An aggressive (high-risk) investor is willing to accept more short-term volatility in exchange for potential higher long-term returns.
Your objective may be defined as “growth”, “income”, or “balanced”. Please
review these options and select the one that best reflects your objectives.
Your investment time horizon is the period between now and the point when you will need to use the majority of the money you have accumulated. You shouldconsider your own investment time horizon when considering aparticular investment.
Clients with a time horizon of greater than three years typically have a greater degree of flexibility when building their portfolios (although their risk tolerance must also be considered).
Using borrowed money to finance the purchase of securities, including
investment fund units, involves greater risk than a purchase using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.
Securities regulators require the delivery of this disclosure to investors who are considering borrowing to buy securities, including investments funds (“leveraged investing”). The examples used relate to the purchase of investment funds but are applicable to other securities aswell.
Investment funds may be purchased using available cash, or a combination of cash and borrowed money. If cash is used to pay for the investment fund purchase in full,thepercentage gain (or loss) will equal the percentage increase (or decrease) in value of the fund units. The purchase of investment funds using borrowed money magnifies the gain (or loss) on the cash invested. This effect is called “leveraging”. For example, assume you purchase $100,000 worth of fund units and pay for it with $25,000 fromavailable cash and $75,000 borrowed money. If the value of the fund units declines by 10% to $90,000, your equity interest (the difference between the total value of the fund units and the amount borrowed) will have declined by 40%, i.e. from $25,000 to $15,000.
It is important that an investor proposing to borrow for the purchase of investment funds be aware that a leveraged purchase involves greater risk than a purchase using cash resources only. The extent to which a leverage purchase involves undue risk varies for each purchaser depending on the circumstances of the purchaser and the investment fund purchased.
It is also important that the investor be aware of the terms of any loan secured by investment fund units. The lender may require that the amount outstanding on the loan notrise above an agreed percentage of the market value of the units. Should this occur, the borrower must pay down the loan or sell enough units to return the loan to the agreedupon percentage relationship. In the example above, the lender may require that the loan not exceed 75% of the market value of the units. For a market value of $90,000, theborrower must reduce the loan to $67,500 (75% of
$90,000). If the borrower does not have cash available, he or she would have to sell units at a loss to provide the money to reduce the loan.
Money is, of course, also required to pay interest on the loan. Under these circumstances, investors who leverage their investment are advised to have adequate financialresources available both to pay interest and also to reduce the loan if the borrowing arrangements require such a payment.
HOOVEST is not a lending institution and does not provide loans.
Here are some risks and factors that you should consider before borrowing to invest:
Is it Right for You?
Borrowing money to invest is risky. You should only consider borrowing to invest if:
You should not borrow to invest if:
You Can End Up Losing Money
Your advisor should discuss with you the risks of borrowing to invest.
HOOVEST may from time to time collect financial and other information about you such as:
HOOVEST limits the collection of personal information from you to that which is permitted by law. By signingthis form, you are providing HOOVEST with your consent to obtain your credit report.
This information may be used from time to time for the following purposes:
Periodically, HOOVEST may ask for feedback from our clients on services it is providing or are considering providing.
For these purposes, HOOVEST may make this information available to its employees, agents and service providers, who are required to maintain the confidentiality of thisinformation.
There are situations specific to the investment funds business where portfolio managers, investment funds, investment fund management companies, dealers and service providers will disclose personal information that is necessary in the course of providing their services to or on behalf of HOOVEST clients, and for regulatory purposes. Forexample, personal information may be disclosed to:
In the event HOOVEST’s service provider is located outside of Canada, the service provider is bound by, and the information may be disclosed in accordance with, the laws of the jurisdiction in which the service provider is located. Upon your request, HOOVEST may give the above information to other persons.
If HOOVEST has your social insurance number, HOOVEST may use it for tax related purposes and/or provide it to the appropriate government agencies.
HOOVEST may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided.
You may obtain access to the information HOOVEST holds about you at any time and review its content and accuracy, and have it amended as appropriate; however,access may be restricted as permitted or required by law. To request access to such information or to request that the information not be used for any or all of the purposes outlined in Other Uses of Your Personal Information, you may do so now, or at any time in the future, by contacting HOOVEST. See How to Contact Us below.
Mail/courier: Hoovest Wealth Management, a division of Qwest Investment Fund Management Ltd. Four Bentall Centre
1055 Dunsmuir Street
Suite 732, PO Box 49256 Vancouver BC V7X 1L2 Canada
Phone: +1-604-601-5804
Toll free: +1-866-602-1142 (ext.1) Facsimile: +1-604-689-8892 Email:
Website: www.hoovestwealth.com
The Subscriber is not a “Benefit Plan Investor,” as defined under Section 3(42) of ERISA and any regulations promulgated thereunder, including each of (a) an “employee benefit plan” that is subject to the provisions of Title I of ERISA; (b) a “plan” that is not subject to the provisions of Title I of ERISA, but that is subject to the prohibited transaction provisions of Section 4975 of the Internal Revenue Code, such as individual retirement accounts and certain retirement plans for self-employed individuals; and (c) a pooled investment fund whose assets are treated as “plan assets” under Section 3(42) of ERISA and any regulations promulgated thereunder because “employee benefit plans” or “plans” hold 25% or more of any class of equity interest in such pooled investment fund. If the Subscriber becomes a Benefit Plan Investor, the Subscriber shall promptly disclose that to the Manager in writing and also the percentage of the Subscriber’s equity interests held by Benefit Plan Investors. The Subscriber shall notify the Manager promptly in writing if there is any change in the percentage of the Subscriber’s assets that are treated as “plan assets” for the purpose of Section 3(42) of ERISA and any regulations promulgated thereunder as set forth in the General Eligibility Representations section of this Subscription Agreement.
The Subscriber is not an “investment company” under the U.S. Investment Company Act of 1940 and does not rely solely on the exemption provided by section 3(c)(1) of that act, the exemption provided by section 3(c)(7) of that act, or both of those exemptions to avoid being an “investment company”.
When you sign this account application form, you confirm that you understand and agree that:
There is no such thing as risk-free investing. Before investing, each investor should read the applicable offering document(s).
Risk tolerance can be quantified by setting a market volatility limit on the account. This is usually indicated by an acceptable decline in value, provided the decline is likely to be temporary and is in line with general market actions. At QWEST, we use the following guidelines to determine a client’s risk profile:
The entity’s objective may be defined as “income”, “growth”, or “balanced”. Please review these options and select the one that best reflects the entity’s objectives.
An “Income” investment objective is defined as one that is focused on the generation of current income in the form of interest and dividends, with little emphasis on long-term capital appreciation. Income-oriented investors typically hold a relatively high percentage of fixed income assets (including bonds and money market instruments), and a low percentage of equities.
A “Growth” investment objective is defined as one that seeks capital appreciation over the long term, with little emphasis focus on current income (i.e. interest and dividends). Growth-oriented investors typically hold a relatively high proportion of equities.
A “Balanced” investment objective is defined as one that seeks a blend of income and growth. Balanced investors typically hold a blend of money-market instruments, bonds, and equities.
The entity’s investment time horizon is the period between now and the point when
the entity will need to use the majority of the money it has accumulated. The entity should consider its own investment time horizon when considering a particular investment.
The entity’s time horizon of greater than three years typically have a greater degree of flexibility when building their portfolios (although their risk tolerance must also be considered).
Using borrowed money to finance the purchase of securities, including investment fund units, involves greater risk than a purchase using cash resources only. If the entity borrows money to purchase securities, its responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.
Risk of Borrowing to Invest
Following are some risks and factors that the entity should consider before borrowing to invest:
Is it Right for the Entity?
Borrowing money to invest is risky. The entity should only consider borrowing to invest if:
The entity should not borrow to invest if:
The Entity Can End Up Losing Money
Tax Considerations
Collecting Your Personal Information
QWEST may from time to time collect financial and other information such as:
QWEST limits the collection of personal information from you to that which is permitted by law. By signing this form, you are providing QWEST with your consent to obtain a credit report on the entity and each authorized representative.
Using Your Personal Information
This information may be used from time to time for the following purposes:
Periodically, we may ask for feedback from our clients on services we are providing or are considering providing.
For these purposes, we may:
There are situations specific to the investment funds business where portfolio managers, investment funds, investment fund management companies, dealers and service providers will disclose personal information that is necessary in the course of providing their services to or on behalf of our clients, and for regulatory purposes. For example, personal information may be disclosed to:
In the event our service provider is located outside of Canada, the service provider is bound by, and the information may be disclosed in accordance with, the laws of the jurisdiction in which the service provider is located. Upon your request, we may give the above information to other persons.
If we have your social insurance number, we may use it for tax related purposes and/or provide it to the appropriate government agencies.
Other Uses of Your Personal Information
We may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided.
Your Right to Access Your Personal Information
You may obtain access to the information we hold about you at any time and review its content and accuracy, and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to such information or to request that the information not be used for any or all of the purposes outlined in Other Uses of Your Personal Information you my do so now, or at any time in the future, by contacting QWEST. See How to Contact Us section below.
You are a Politically Exposed Person if you currently hold or have ever held any of the following positions in the government of any country:
You are a Head of International Organization if you are a head of an international organization established by the governments of states; or the head of an institution established by an international organization.
You are also a Politically Exposed Person and/or Head of International Organization if you are the spouse, common-law partner, their child, their mother, father, brother, sister (including half-brother/sister), spouse’s or common-law partner’s mother or father of any such person or a close associate, which can be an individual who is closely connected to a politically exposed person or head of international organization for personal or business reasons.
Mail/courier:
Qwest Investment Fund Management Ltd.
Four Bentall Centre
1055 Dunsmuir Street
Suite 732, PO Box 49256
Vancouver BC V7X 1L2 Canada
Phone: +1-604-601-5804
Toll free: +1-866-602-1142 (ext.1)
Facsimile: +1-604-689-8892
Email:
Website: www.qwestfunds.com