90% of your clients could increase their pre-authorized debits (PADs)

Looking for a quick and easy way to increase your clients’ savings, protect their financial future and reach your sales goals faster? Nearly 90% of those who contribute to a savings plan using a pre-authorized debit (PAD) have not increased their contributions since at least 2021¹.

With inflation and the rising cost of living in recent years, a gentle reminder to your clients to adjust their periodic contributions is a way of taking their long-term financial health to heart.

The benefits for your clients:

Avoid getting behind in their savings objectives, which could force them to postpone their projects and/or retirement
Act now to combat inflation, rather than suffer the consequences in retirement
Prevent the effects of cost-of-living increases
Increase their potential returns

It’s up to you:

Start a discussion with your clients to review their objectives and needs
Program your new contracts in EVO and, with your clients’ agreement, select automatic indexation, so you can concentrate on developing your business
Reap the benefits of growing assets under management over time

In the next few weeks, we will be sending an email to advisors with clients who have not increased their contributions since 2021. The email will contain the procedure for obtaining your client list.

Whether or not you receive this email, this is an excellent opportunity to reassess whether your clients’ PADs are still in line with their savings objectives.

Here are the forms to use if your clients wish to increase their contributions, depending on the type of savings plan in which they are invested:

Savings plan	Forms
RRSP, TFSA and non-registered	F51-153A-1
RESP	F51-184A-1
RRSP, TFSA, non-registered and RESP	F51-153A-1 and F51-184A-1

¹ Internal datas

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