Account opening
This will take 1 to 2 business days to generate an account number (from the time the client finishes the application). This applies to:
- Individual
- TFSA
- RRSP
- Spousal RRSP
- LIRA
Other accounts may require additional information and we will reach out to the client. These accounts may take 3 to 5 business days to complete (once we receive the necessary information and signed forms). This applies to:
- RESP & Joint RESP (Quebec RESPs not currently available)
- Joint Individual
- Corporate
- RRIF & Spousal RRIF
- LIF & Spousal LIF
- In-Trust
Deposits
Once an account number is created, we can process deposits for your client where funds will take 3 to 5 business days to arrive in their Assante Connect account.
Investing funds
Once the funds are deposited in the account, trade allocation will take place within 5 business days. Once the trades are placed, they will be reflected on the client’s dashboard within 1 to 3 business days.
The time from when funds are deposited until when clients can view their investments online ranges from 6 to 8 business days.
Withdrawals
Once a client requests a withdrawal, it takes 5 to 8 business days for the funds to arrive in their bank account.
Account transfers
Once a client signs the transfer forms, it typically takes 3 to 5 weeks for the transfer to reach their Assante Connect account. Please note that this timeline is largely dictated by how quickly the relinquishing institution processes the transfer.
For your reference, not all transfers can be initiated with our usual e-signing process and clients will need to sign our forms manually. For more information on transfers, please see the Account Transfers section.
Some direct pension transfers require the original documents and will take roughly 4 to 6 weeks to be received.
Updating bank information
Once we receive the client's new bank information it will be updated with our back office in 1 to 2 business days. The client is to upload a copy of their VOID cheque and a clear copy of a valid piece of identification such as Drivers Licence or Passport into their "Documents" dashboard.