If you decide that ModernAdvisor is not meeting your needs, you can transfer your account to another firm. ModernAdvisor doesn’t charge a transfer out fee, but the custodian that holds your account does charge a transfer out fee. The CI Investment Services' fee is $50 plus tax. Credential charges $125+tax for a full transfer-out and $75+tax for partial transfers out.

You can also transfer the account balance to your bank account by going to the Transfer Tab and inputting the full amount you see on that present day.

To close your account, we need a written request clearly stating which account you would like to be closed. Please note once an account is closed, you would not be able to access tax information online. For registered accounts you can keep the account open with a zero balance until tax season in order to retrieve the documents you would need.

If there are any small residual balances left over from a transfer out, please message or email support @modernadvisor.ca for this to be sent the another institution or to your bank account on file.