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Referral Arrangement

This disclosure is for clients working directly with an external representative of PPI Management providing financial planning or support services as described in a Service Fee Agreement. For more details about your relationship with CI Direct Investing and your representative, refer to your Managed Investment Account Agreement and Service Fee Agreement. 

Your Representative participates in a network of insurance representatives (the “PPI Representative Network”) serviced by PPI Management Inc. (“PPI”), a Canadian insurance marketing organization. CI Direct Investing and PPI operate a digital wealth management platform (“PPI Valet”) which has been developed, and is being offered to the PPI Representative Network, jointly by PPI and CI Direct Investing pursuant to a Platform Development and Distribution Agreement.

PPI is compensated by CI Direct Investing for the services that it provides in marketing and promoting PPI Valet to PPI’s Representative Network. This compensation is a benefit provided to PPI for the referral of a client to CI Direct Investing and therefore considered a referral fee. The referral fee paid to PPI is the equal share of any profit derived from PPI Valet.

The compensation that PPI receives from CI Direct Investing for marketing and promoting PPI Valet may have impacted PPI’s decision to provide your Representative with access to PPI Valet, which facilitates your Representative’s provision of services to you and collection of Service Fees from your Account.

As a registered portfolio manager under the securities laws of your provincial or territorial jurisdiction, CI Direct Investing provides discretionary investment management services to you, not PPI.  All activity requiring registration resulting from this referral arrangement will be provided by CI Direct Investing, and CI Direct Investing will not provide or engage in activities for which it is not registered. CI Direct Investing will construct portfolio(s) of appropriate investments for your Account and manage the portfolio(s) based on the KYC Information that you have provided, as updated by you from time to time to reflect any material changes.

CI Direct Investing is not affiliated with, nor makes any representations regarding your Representative or PPI. Each of CI Direct Investing, your Representative and PPI have their own policies and procedures which govern conflicts of interest.

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