What is Western Pacific Trust Company?
Western Pacific Trust Company ("WPTC") is an independently owned Trust Company. They are one of the few financial institutions that allow for Registered Account investments into privately held corporations, such as the ones available on FrontFundr.
Setting Up An Account With WPTC
If you do not already have an account, you can email support@frontfundr.com to receive the account creation forms for one of the following: TFSA, RRSP, SRSP, LIRA, or LRIF. If you are interested in a different type of account, please let us know.
The Forms You Will be Required the Sign:
This will be a signed form that notifies WPTC where the funds in your Account should be directed to.
Payment Forms [Pre-Authorized Payment/Credit Card Authorization]
When fees are due - this is where the funds are to be taken from.
When opting for Credit Card Authorization, WPTC requires an extra $500 to be held in cash within the Account.
Information Disclosure Form
Allow FrontFundr the ability to see your account balance at WPTC so we can update your payment, and ensure that your investment is funded
Receiving Your Account Number
If you have signed your account creation forms provided, FrontFundr will provide you with a plan number, that you can then use when submitting your investment. This generally takes about 1-2 days after the completion of the signed account creation forms.
Want to learn more about how to submit an investment through a registered account? Go here!
Fees
There are two fees when using Western Pacific and making investments on FrontFundr, and those include the Annual Fee and the Exempt Market Fee.
The Annual Trustee Fee
The Annual Fee for one registered account is $165+tax per year. All additional accounts will be an additional $75+tax/account per year.
e.g. If you set up a TFSA, your annual fee will be $165+tax. If you decide to open an RRSP as well, your total annual fee will be $240+tax ($165+75).
This fee will be collected upon your account set up. In subsequent years, WPTC will mail an Annual Trustee Fee invoice one month prior to the 1-year Anniversary. On the invoice, WPTC will mention if a Pre-Authorized Payment Agreement or Credit Card Authorization Form is on file with our office – this is a reminder to the client a fee may be processed through their agreement. If the invoice is not paid by the due date, WPTC will process the Annual Trustee Fee through the agreement.
Transaction Fee
The Transaction fee for Exempt Market Products (those sold through FrontFundr) is $75+tax per transaction. This fee is charged at the time the investment is closed.
Want more information on WPTC's fees? Go here.
Your Funds will be taken from your account, and the investment will show upon the closing and acceptance of your investment. This generally happens within a week following the closing date.
Want to learn about when the Funds will be taken from your Trust account? Go here!