FAQ

Frequently asked questions

Fees

How much will I pay in commissions and other fees?

Please visit our Products page for more information.

How long do I receive Active Trader pricing?

You will be entitled to the preferential rates for one calendar month. Eligible accounts will receive the Active Trader pricing on the first business day of the month and will be reassessed every month using trading activity from the three previous calendar months.

How will I know I have Active Trader pricing?

A note that reads “Active Trader Status (AT)” will be added to your Account Summary page next to each account group that qualifies for Active Trader pricing.

NOTE: Please visit our Products page for more information on fees relating to requesting stock certificates, options trading and other account services.

Transfers

Can I transfer my account from another institution?

Yes. Simply complete and mail our Account Transfer form (CA-101) if it is a non-registered account. If you are transferring a registered or TFSA account, complete and mail our Transfer Authorization form (RP-113). You must include a photocopy of your most recent account statement from the relinquishing institution.

How long does it take to transfer my account from another financial institution?

Please allow at least 10 to 15 business days. If your transfer involves mutual funds or a locked-in account, it may take closer to 15 business days.

How do I transfer funds to my trading account?

  • By electronic funds transfer (EFT) – By simply logging into your account online and clicking the “Transfer” tab, you can transfer funds to/from your bank account. The transfer will be processed on our end at 8am MST on the next business day. The movement of funds within your bank account will depend on your financial institution, but will occur the same business day.
  • By cheque – Mail us a cheque payable to Solium Financial Inc.
    Solium Financial Inc.
    Suite 1500, 800 – 6 Avenue SW
    Calgary, AB T2P 3G3

How do I deposit a stock certificate into my account?

If the stock certificate is in your name and there are no restrictions noted on it, you can send the certificate to us along with our Power of Attorney to Transfer Bonds or Shares form. We recommend that you use a courier service so that delivery status may be tracked.

Account updates

How can I change my mailing address?

By logging into your Solium Financial account, click the “My Profile” tab on the top-right corner of the main page, then scroll down the page to the section applicable to address changes and submit your request from there.

How do I authorize an individual trading authority on my account?

Complete and mail in our Trading Authorization form (CA-100) and Supplemental Account Authorization Form (MS-106), along with completion of ID verification (see documentation checklist so that we may verify their identity.

Solium Financial Inc.
Suite 1500, 800 – 6 Avenue SW
Calgary, AB T2P 3G3

TFSAs

Who is eligible to open a TFSA?

Any Canadian resident who has reached the age of majority (18 or 19 depending on their province of residence) and has a Social Insurance Number.

What types of investments are allowed in a TFSA?

Generally speaking, the types of investments permitted in a TFSA are the same as those permitted in a registered retirement savings plan (RRSP). This includes mutual funds, securities listed on a designated stock exchange, GICs and bonds.

How do I make a withdrawal?

To make a withdrawal from your TFSA, please fill out our TFSA Withdrawal of Assets form (TF-103). Funds transferred out can go directly into your bank account.

How much can I contribute?

As of 2016, Canadians have been able to contribute up to $5,500 annually (indexed), with unused contribution room carried forward to each subsequent year. NOTE: Visit Canada Revenue Agency for current limits.

Is there an annual fee for a TFSA?

Yes, $25 will be debited from your account annually.

Registered accounts

NOTE: Any forms related to registered accounts can be found in the “Registered” section of the Service forms page.

What forms are available for government-sponsored RESP programs?

  • Application for Alberta Centennial Education Savings Grant
  • Canada Education Savings Grant Application
  • HRSDC SDE 0071 – Basic and Additional Canada Education Savings Grant and Canada Learning Bond Application
  • HRSDC SDE 0073 – Basic and Additional Canada Education Savings Grant and Canada Learning Bond Application – Subscriber(s) Only

What fees are associated with my registered account?

All costs associated with registered accounts can be found on our Products page.

How can I withdrawal an additional payment from my RRIF?

Complete and mail in our Additional Lump Sum Payment from RRIF form (RP-108) to:

Solium Financial Inc.
Operations Department
Suite 1500, 800 – 6 Avenue SW
Calgary, AB T2P 3G3

NOTE: Deregistration fees and withholding taxes will apply, as outlined in the form.