Summary
After your advisor invites you to open a ModernAdvisor account, you'll receive an email to complete your application online. During onboarding, you'll:
Verify your identity
Create your login credentials
Complete your account application
Answer questions about your financial situation and investment goals
Upload banking and identification documents
Review your recommended investment plan
Electronically sign your account-opening documents
Most accounts are approved and opened within 2–4 business days after all requirements have been completed.
Step by Step Process
Step 1: Open Your Invitation Email
You will receive an email from ModernAdvisor Support with the subject:
Confirm and Complete your New ModernAdvisor Account
The invitation may include:
Multiple account types
Transfer requests
Electronic Funds Transfers (EFTs)
Pre-Authorized Contributions (PACs)
Select Complete Application to begin.
Step 2: Review and Accept Required Consents
Before proceeding, you'll be asked to review and acknowledge referral and consent disclosures.
To continue:
Review the disclosures presented
Check the required acknowledgement boxes
Confirm your consent
Step 3: Verify Your Identity
As part of the onboarding process, you'll be asked to enter personal information to verify your identity.
Important
The information you enter must match exactly what your advisor entered when preparing your application.
If you receive an error:
Verify the information you've entered
Contact your advisor to confirm how it was originally entered
Common issues include:
Spelling differences
Name formatting differences
Special characters
Date discrepancies
Step 4: Create Your Password
Create a password for your ModernAdvisor account.
Your credentials will be:
Username: Your email address
Password: The password you create
Forgot Your Password?
You can reset your password at any time by selecting Forgot Password on the ModernAdvisor login page.
Step 5: Complete Your Account Application
You'll then begin completing your account application.
Depending on how your advisor configured your onboarding package, this may include:
Investment account applications
Transfer requests
EFT instructions
PAC instructions
If you're opening multiple accounts, you'll complete them one at a time.
Step 6: Select Your Investment Goal
Choose the goal that best represents the purpose of the account.
Examples may include:
Retirement savings
General investing
Short-term savings
Emergency savings
Good to Know
Your investment goal helps determine the recommended portfolio and risk level for your account.
Investment goals can be updated later if your circumstances change.
Step 7: Provide Information About Your Financial Situation
ModernAdvisor is required to understand your financial circumstances before recommending investments.
You may be asked about:
Income
Assets
Liabilities
Existing investments
Real estate holdings
Home Ownership
If you own a home:
Enter the home's market value as an asset
Enter the mortgage balance as a liability
This information helps us determine a suitable investment recommendation.
Step 8: Complete the Risk Profile Questionnaire
You'll complete a short questionnaire designed to understand your comfort level with investment risk.
What to Expect
7 questions
Questions about investing behaviour and risk tolerance
Answers used as part of your portfolio recommendation
Good to Know
You can retake the questionnaire later if your circumstances or preferences change.
Step 9: Select Your Investment Preference
For certain account types, you may be asked which investment approach you prefer.
Available options include:
Passive Investing
Tracks market indexes
Lower management costs
Returns generally mirror market performance
Actively Managed Investing
Managed by investment professionals
Designed to potentially outperform market indexes
Generally costs approximately 0.5% more per year than passive portfolios
A Blend of Both
Combines active and passive investments
Fees and investment approach fall between the two options
No Preference
ModernAdvisor will recommend a portfolio based on your profile
Note
If your goal is Save for Short Term or Save for a Rainy Day, you may not see this question. Those goals are generally paired with the High Rate Savings Portfolio.
Step 10: Review Your Investment Plan
You'll receive a recommended:
Risk level
Portfolio option
Asset allocation
Can I Change My Recommendation?
During onboarding:
You may choose a different portfolio option.
You may generally move your risk level up or down by one level.
Larger changes may require:
Updating your investment goal
Changing your investment timeframe
Retaking the risk questionnaire
How Your Risk Level Is Determined
ModernAdvisor considers:
Your risk questionnaire responses
Your investment goal
Your investment timeframe
The size of the account relative to your finances
Your debt level
Step 11: Complete Your Personal Information
Review and complete any personal information that was not already entered by your advisor.
This may include:
Address information
Employment information
Citizenship information
Tax residency details
Step 12: Complete Compliance Questions
Compliance Questions
You'll answer a series of compliance questions.
If you answer Yes to certain questions, additional information may be required.
Step 13: Confirm or Update Bank Information
Banking Information
If your advisor has not already entered your banking information, you'll be asked to provide it.
Accepted Banking Documents
Void cheque
Recent bank statement
Online banking screenshot
Requirements
Your document must:
Show your name
Display account details clearly
Be complete and legible
Important
Bank verification occurs after onboarding has been submitted.
Step 14: Upload Identification
Upload a government-issued photo ID.
Accepted identification includes:
Driver's Licence
Canadian Passport
Canadian Citizenship Card
Canadian Permanent Resident Card
Provincial Identification Card
Provincial Health Card (excluding Ontario)
ID Requirements
Images must be:
Clear
Uncropped
Unaltered
Fully visible
You can also choose to receive a mobile link if you'd prefer to take a photo using your smartphone.
Step 15: Review Required Documents
Review the regulatory and compliance documents presented during onboarding.
These documents will remain available through your ModernAdvisor dashboard after your account is opened.
Step 16: Complete Your Application
After submitting your application:
Account-opening documents will be prepared
You may receive them immediately
Additional verification may occasionally be required
Opening Multiple Accounts?
Select:
Add Your Next Account to continue onboarding any additional account types included in your invitation.
Step 17: Sign Your Documents Through AdobeSign
You will receive an email from:
Adobe Acrobat Sign on behalf of ModernAdvisor Legal and Compliance
Subject line: Signature requested on: Account Opening Documents
Click 'Continue' at the bottom, or it might ask you to 'Enable Cookies'.
Click the yellow box 'Click Here to sign'. You can type or draw your signature.
Click ‘Next’ to move forward to the next signing box.
Finally, click the blue box 'Click to Sign' at the bottom once you have reached the bottom and signed all sections. If you do not see this, it might be blocked by a message to Enable Cookies.
Important
Each account type generates its own signing package, so you may receive multiple AdobeSign emails.
If You Added a Transfer Request
Transfer authorization forms may also be included for signature.
Step 18: Receive Account Approval
Once your application has been reviewed and approved:
Your account will be opened
You'll receive a confirmation email
Any previously authorized deposits can be processed
Transfer requests can begin
Most accounts are opened within 2–4 business days after all requirements have been completed.
You can then log in at any time to:
View your portfolio
Update your profile
Create additional EFTs
Submit transfer requests
Access account documents
Frequently Asked Questions
What if I can't complete identity verification?
Contact your advisor to confirm that the information you entered matches the information originally entered during onboarding.
If automatic verification cannot be completed, additional documents may be required.
Why did I receive multiple AdobeSign emails?
Each account type generates a separate document package that requires its own signature.
Can I change my portfolio recommendation?
During onboarding, you may select a different portfolio option and generally move your risk level up or down by one level.
After onboarding is complete, contact ModernAdvisor if you'd like to make additional changes.
Can I set up deposits before my account is open?
Yes. EFT and PAC instructions can be established during onboarding, but transactions will not process until your account is approved and banking information has been verified.
How long does account approval take?
Most accounts are approved and opened within 2–4 business days after all onboarding requirements and signatures have been completed.
What if I don't see my account-opening documents?
Check:
Inbox
Spam folder
Junk folder
Look for emails from Adobe Acrobat Sign on behalf of ModernAdvisor Legal and Compliance.
Troubleshooting
Identity Verification Error
Possible causes:
Name mismatch
Incorrect date entered
Different formatting than originally entered by your advisor
Resolution:
Contact your advisor to confirm the information on file.
Bank Account Not Verified
Check that:
The account belongs to you
Your name appears on the document
The document is clear and legible
All account details are visible
ID Verification Failed
Check that:
The ID is government-issued
The image is clear
Nothing is cropped or covered
No information has been redacted
Additional supporting documentation may be requested if needed.
Compliance Notes
Government-issued photo identification is required to open an account.
Identity verification may include electronic verification methods.
Documents must be clear, complete, and unaltered.
Banking documents must belong to the account holder.
Certain accounts may require additional documentation or review.
Applications are subject to approval and regulatory review.