Current Yield (as of May 28th, 2026):

Accounts held at CI Investment Services: 1.98% per year *

Accounts held at Aviso Wealth: 2.15% per year *
​
* Rounded to the nearest 0.05%. The yield is before advisor and the minimum account fee if applicable as detailed below.
​

The High Interest Savings Portfolio (HISP) is a great option for short-term savings, offering a great alternative to keeping cash in a bank account with little to no interest. However, it's important to note that it differs from a traditional savings account at a bank or credit union.
​

For accounts held at Aviso Wealth, the ModernAdvisor High Interest Savings Portfolio (HISP) is invested in interest-bearing cash. For accounts at CI Investment Services, the HISP is invested in the Purpose High Interest Savings Fund (PSA), an ETF that trades on the Toronto Stock Exchange.

Since PSA trades on the stock exchange it's price fluctuates from day to day and it can go down as well as up; but over the month the price increases as the interest accrues. On the ex-distribution date the price resets to 50.00; the distribution of the interest is generally paid 5 business days after that. There will be a drop in the value of the client account between the ex-distribution and the distribution payment date of the ETF.

Below is a 1 year chart of its performance showing the increase in the price during the month as interest is accrued and then drops as the distribution is made.

Since the HISP invests in a publicly traded security it is subject to a trade settlement period. PSA has a T+1 trade settlement (unlike stocks and most ETFs that are T+2) which means if you sell it on a Tuesday, the cash is available to withdraw from your account on Wednesday.

PSA maintains deposits at Canadian Schedule 1 banks (think CIBC, TD, Scotiabank, National Bank) that pay interest. The interest rates paid on these accounts fluctuate with the Bank of Canada's benchmark interest rate.

ModernAdvisor management fees are 0.20% per year + GST or HST, depending on the client's province of residence. A minimum management fee of $2.5/month applies to RESP accounts, while a $5/month fee applies to non-RESP accounts. The per-account minimum fee is waived if the management fees on other client accounts exceed the minimum fee.

The Current Yield above is net of the ModernAdvisor management fee.

A Service Fee of up to 0.2% + GST or HST, depending on the client's province of residence, can be charged by the referring financial planner or advisor.

All account types offered by ModernAdvisor can select the ModernAdvisor High Interest Savings portfolio. These include non-registered, TFSA, RRSP, RESP, RDSPs, RIF, LIF, LIRA, and corporate accounts.

There are no fees to withdraw funds from the High Interest Savings Portfolios. However, a de-registration fee may apply to withdrawals from certain registered accounts.

There are no contribution and withdrawal limits specific to the High Interest Savings Portfolios. Account specific limits apply regardless of the investment option selected inside the account.

Existing accounts:

If the client already has the account opened and invested in another portfolio, we would need an email from the client, with the specific account number(s) requesting the change. We generally recommend the HISP for short-term savings, and may need to ask additional questions if the investment goal, timeframe, and/or Risk Level of the account are not compatible with a High Interest Savings portfolio.

As a reminder, clients can review and update their investment goal, timeframe and risk level for the account on their dashboard. This can be done by by logging in, selecting the account, click Modify, then the goal settings on the left.

We also encourage you and our clients to review the nuances of the High Interest Savings Portfolios by reviewing this article before investing in the HISP.

New accounts:

For new accounts, if the client selects "Save for the short-term", "Save for a Rainy Day", or choose a short investing timeframe, the system will recommend the High Interest Savings portfolio.

The client can also select High Interest Savings as the Portfolio Option when they reach the ‘Review Your Plan’ stage of the account opening for other goals (shown below).

If for some reason the client misses this during onboarding, they can send an email or chat message to support requesting a switch to the High Interest Savings Portfolio.

Can I change my existing investment into the High Interest Savings Portfolio?

*Link to HISP opening article once created (see - Existing Accounts)

What is a high interest savings portfolio?

Please see this article for a detailed description.

Does it qualify for CIDC?

The high interest savings portfolio wouldn't qualify for CDIC protection since it is not held in an account at a bank. All ModernAdvisor accounts, including those invested in the high interest savings portfolio, qualify for CIPF protection up to $1 million through our custodians Aviso Financial and CI Investment Services.

What is the minimum account size?

$1000.

Why is my account down?

This would be due to distributions and the nature of the ETF. The high interest savings portfolio invests in an ETF (PSA), and ETFs have ex-distribution dates. PSA starts the month at 50.00 and interest accrues during the month. If we assume the value of the ETF was 50.20 at month end (the ex-distribution date), the price of the ETF resets to 50.00 and you receive the 0.20 distribution (interest) 10 days later. The distribution for June will be paid on July 10.

It is not guaranteed as it invests in an ETF so the value does fluctuate; and it is not a High Interest Savings Account (HISA) like at a bank. On the ex-distribution date the price of the ETF drops back to $50.00 so clients will see a decline in the value of their account until the distribution is received from the ETF between the 7th and 10th of the month.

Can I add the High Interest Savings Portfolio to my existing portfolio?

No, you can't add on the High Interest Savings ETF to a current portfolio option. Accounts are fully managed and invested according to the model portfolios that are offered. You need a separate account to just hold this portfolio.

What are the Fees?

ModernAdvisor's management fees on the High Interest Savings portfolios is 0.2%. Your service fees are also capped at 0.20%. These fees are subject to GST or HST.

What accounts can hold this?

All registered accounts. In Trust For accounts, and Corporate Accounts.