Electronic Fund Transfers (EFTs) allow you to deposit funds, withdraw funds, and move money between eligible ModernAdvisor accounts. Transactions can be completed as one-time or recurring requests, subject to account eligibility, settlement periods, and applicable regulatory requirement

Clients click on Transfer tab at the top.

Advisors click into the client, then Create EFT in the top right corner. Important: If advisors are creating the EFT request, clients get an email to approve.

Choose whether you want to:

Select:

Provide:

Review the details and submit the request.

Advisor-created requests require client approval before processing begins.

Advisors can track the request from the Transfers Requests section.

Clients can track the request from the Transfers button at the top - Review Transfers tab.

You cannot directly edit the amount, date, or frequency of an existing pre-authorized payment. Instead, you must cancel the active instruction and create a new one.

Log in to your ModernAdvisor dashboard. Navigate to the Transfers tab.

Select the Review Transfers sub-tab to see your active scheduled payments.

Locate the transfer you wish to change and click the Trash Icon to cancel it

While still in the Transfers tab, click on New Transfer. Select the account, enter your new amount and frequency, and choose your preferred start date.

Confirm the details to reactivate your contributions or withdrawals.

To ensure a cancellation or change is processed before your next scheduled date, please make these updates at least 3 business days before the transfer is set to occur. This provides enough time for our system and the custodian to stop the upcoming bank pull.

Internal transfers allow assets or cash to move between eligible ModernAdvisor accounts. Some transfers can be completed directly through the platform, while others require additional forms, support intervention, or are not permitted under CRA rules.

Email support@modernadvisor.ca to request the transfer. It will be processed in 4-5 business days.

Per CRA guidelines, this is not permitted. You must withdrawal to your bank account, then deposit to the investment account as two separate transactions.

If the joint account does not show up on your own profile, you are the non-primary account holder. Due to a system limitation, Internal transfers will not show up for you. Please email support@modernadvisor.ca to request the transfer. It will be processed in 4-5 business days.

Most withdrawals take approximately 4–5 business days.

This includes:

No.

Recurring instructions cannot be edited directly. Existing instructions must be cancelled and recreated.

Semi-monthly transactions can only occur on:

If another date is selected, the system defaults to the next available 1st or 15th.

Wire transfers are available for urgent situations.

Fee:

Investments must first be sold and settled before funds can be sent to your bank.

Settlement periods are:

The request requires client authorization before processing can begin. If clients cannot find the email, they can log into their dashboard and click Transfers at the top, then Review transfers to approve it.

Possible reasons include:

Common causes include:

Electronic Fund Transfer between a bank account and investment account.

A transfer that occurs once.

A transfer that repeats on a schedule.

Movement of funds between eligible ModernAdvisor accounts.

The period required after investments are sold before cash becomes available.