Collection, Use and Disclosure of Personal Information
The purpose for which Worldsource Financial Management Inc. (“Worldsource”) will collect, use and disclose your personal information is central to our providing you with our services. We believe that we cannot continue to provide you with those services if you object to our collecting, using and disclosing your information for those purposes. Worldsource will therefore consider that your continuing to maintain your account with us constitutes your consent to our continuing to collect, use and disclose your personal information as described above. In future, if Worldsource identifies a new purpose for collecting, using or disclosing your information, we will seek your consent before doing so.
The Necessity for Personal Information
Throughout the course of our relationship with you, Worldsource and your advisor (on our behalf) collect personal information from you. This information typically includes “know your client” information about your personal circumstances, including your financial situation and your investment objectives, as well as information about your investments, banking information and social insurance number.
Worldsource uses such personal information only for the purposes of administering your account with us (including but not limited to buying and selling mutual funds on your behalf, and reporting to you), and complying with legal and regulatory requirements.
Disclosing Personal Information
We may provide information to companies that perform services on our behalf (such as preparing and mailing statements or processing trades and payments). We may also provide personal information to mutual fund issuers in which you invest, and receive information from them about your investments.
Worldsource is a member of several self-regulatory organizations, such as the Mutual Fund Dealers Association of Canada, who may at times require access to personal information for regulatory purposes (such as trading surveillance, regulatory audits, investigation of potential violations, enforcement or disciplinary proceedings and regulatory reporting). Such organizations may in turn share such information with other self-regulatory organizations (such as the Ontario Securities Commission and other provincial regulatory bodies), stock exchanges and law enforcement agencies.
Worldsource does not disclose your information to any other organizations to use for their own purposes, and in particular never sells or trades your personal information.
Administering Personal Information
In representing us, your advisor is acting on our behalf. Many of our advisors are also licensed to sell other products, and may wish to provide advice and services to you in that capacity. If they do so, they are not acting on our behalf, and they will communicate with you themselves with respect to any other use or disclosure of the personal information they have collected on our behalf.
In the Province of Quebec, for the “object” of administering your account and complying with legal and regulatory requirements, Worldsource creates a file containing your personal information. Only those employees whose job functions involve matters related to the “object” of the file will have access to this information. If you wish to review or make changes to your file, you may do so by making a written request to 625 Cochrane Dr., Suite 700, Markham, Ontario, L3R 9R9.
If you have any comments, inquiries or complaints about our handling of your personal information, we encourage you to contact your advisor at his/her branch office. Alternatively, you may contact our Privacy Officer at:
Worldsource Financial Management Inc.
625 Cochrane Dr., Suite 700 Markham, Ontario L3R 9R9
Fax: (905) 415-0184
Worldsource Financial Management Inc – Disclaimer
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the fund specific simplified prospectus before investing. Mutual funds are not guaranteed and are not covered by the Canada Deposit Insurance Corporation (CDIC) or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Fund values change frequently and past performance may not be repeated.
Labour Sponsored Investment Funds (“LSIF”) have tax credits that are subject to certain conditions and are generally subject to recapture, if shares are redeemed within eight years. Please note that Mutual Fund Representatives in Alberta are not permitted to sell LSIF.
Your Worldsource Financial Management Inc. (“WFM”), mutual fund advisor maintains business interests that are separate and distinct from his/her WFM business activities. You will be provided complete information concerning these outside business interests, including who is responsible for each business activity. The disclosure will provide you with that information and will explain your rights and with respect to business that you place with WFM through your mutual fund advisor. WFM assumes responsibility and liability for “Worldsource Financial Management Inc. Business Interests” only. All business activity undertaken by your mutual fund advisor that are not the specifically designated as “WFM Business Interests” are not the responsibility of WFM. Therefore, WFM does not assume any liability for any such activity.
The information contained on this Internet Website is for general information purposes only and is the opinion of the owners and writers. Investors should educate themselves regarding securities, taxation or exchange control legislation, which may affect them personally. This web site is for general information only and is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice. Please consult an appropriate professional regarding your particular circumstances.
This Internet Website does not constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation.
References in this Internet Website to third party goods or services should not be regarded as an endorsement of those goods or services. By accessing any of the links provided you will be leaving http://www.whitleyfinancial.com/privacy-policy-disclaimer. We are not responsible for the information contained on these websites.
All information provided is believed to be accurate and reliable, however, we cannot guarantee its accuracy. Worldsource Financial Management Inc. will not be held liable for any inaccuracies in the information presented, nor will WFM be held liable for any software damages resulting from the use of this website. Mutual funds are offered only in Canada.
Risk of Borrowing to Invest
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:
o You are comfortable with taking high risk.
o You are comfortable taking on debt to buy investments that may go up or down in value.
o You are investing for the long-term.
o You have a stable income.
You should not borrow to invest if:
o You have a low tolerance for risk
o You are investing for a short period of time.
o You intend to rely on fund distributions / income from the investments to pay living expenses.
o You intend to rely on fund distributions / income from the investments to repay the loan. If this income stops or decreases you may not be able to pay back the loan.
You Can End Up Losing Money
• If the investments go down in value and you have borrowed money, your losses would be larger than had you invested using your own money.
• Whether your investments make money or not you will still have to pay back the loan plus interest. You may have to sell other assets or use money you had set aside for other purposes to pay back the loan.
• If you used your home as security for the loan, you may lose your home.
• If the investments go up in value, you may still not make enough money to cover the costs of borrowing.
• You should not borrow to invest just to receive a tax deduction.
• Interest costs are not always tax deductible. You may not be entitled to a tax deduction and may be reassessed for past deductions. You may want to consult a tax professional to determine whether your interest costs will be deductible before borrowing to invest. Your advisor should discuss with you the risks of borrowing to invest.
Mutual Funds and some Segregated Funds provided by the Fund Companies are offered through Worldsource Financial Management Inc., sponsoring mutual fund dealer. All other products and services are offered through Whitley Financial Services.