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June 2010

MRS Inc. MRS Securities Services Inc. MRS Correspondence Corp. Fee for Service Offering and Applications. June 2010. Gus Tsagogeorgas Regional Business Development Manager 416-934-7029 gtsagoge@mrs.com. Contents. Who is MRS? The Carrying Dealer for MFDA, IIROC and ICPMs?

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June 2010

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  1. MRS Inc.MRS Securities Services Inc.MRS Correspondence Corp.Fee for ServiceOffering and Applications June 2010 Gus Tsagogeorgas Regional Business Development Manager 416-934-7029 gtsagoge@mrs.com

  2. Contents • Who is MRS? • The Carrying Dealer for MFDA, IIROC and ICPMs? • The MRS Fee-For Service Offerings • Retail Offering • Wholesale Offering • Advisor Application of Fee for Service • Questions (C) MRS 2010

  3. MRS Background • Celebrating our 26th anniversary in financial services • MRS Group of companies is comprised of: • MRS Inc – MFDA member firm • MRS SSI – IIROC member firm • MRS Correspondence Corp – AMF member firm • MRS Trust Co – Federally regulated trust company • Only carrier in Canada who can service all three regulatory platforms, MFDA, IDA and AMF • 100% owned by Mackenzie Financial and backed by parent company Power Financial Corp. • 200+ staff with offices in Toronto, Quebec and B.C. (C) MRS 2010

  4. Corporate Structure • Largest mutual fund manager in Canada • Total assets under management of over $100 billion • Power Financial Group - Majority Shareholder (C) MRS 2010

  5. MRS Market Position (C) MRS 2010

  6. Back Office / Our Platform • Solid Foundation • Developed over the last 25 years • Multi-million dollar investment • Fully Functional • Web Front End • Secure • Adaptable for evolving industry • Flexible and customizable • Regulatory compliant and fully audited • Cost effective • Account types supported • RRSP • RRIF • LIRA/LRSP • LIF/LRIF/PRIF • Open Investment Accounts • TFSA • Specialized accounts • Fee for Service • Group RRSP • DPSP • IPP (C) MRS 2010

  7. MRS Services • Complete back-office platform • Industry leading proprietary software to support Mutual Funds, Equities and Fixed Income registered in Nominee Name • Complete account management for transfers, trading, PACs, SWPs, and payments. • Reporting and alerts for Dealer, Advisor and Investor • Fully compliant with CRA, IIROC, MFDA and AMF • Front-office access options • Access through Dealers’ existing front office systems such as Univeris, RPM • Access through No-Charge MRS Web based Advisor Access for account inquiry, trading, statements, EFT and e-alerts • Full suite of services and support • Bilingual Call Centre for Dealers, Advisors and Investors • Service Advocates specializing in operations and efficiency • Options for wholesale arrangement - custom fees, branding of forms and statements • Account Types • Open • Investment • RRSP • RRIF • LIRA/LRSP • LIF/LRIF/PRIF • Group Plans • IPP • Fee For Service TFSA (C) MRS 2010

  8. Services and Support • Online Support and Services • All forms, how-to guides, service description • Online account inquiry, trading, reporting, statements • Client Services • General Call Centre • Advisor Plus Services • Service Advocates • Transition Services • Transfer In Program • Bulk Transition Services • Business Development Team • Regional Representatives supporting advisors • Institution Representative supporting strategic dealers • Marketing and Communication • “Grow Your Business Programs” • Advisor recruitment assistance program • Migration Assistance Program (MAP) • NDEX Systems reporting tools (C) MRS 2010

  9. MRS Transfer-In Program • Financial Support • Cover the ‘transfer-out’ cost of changing platforms • For large transfers – cover the cost of administration • Dedicated Resources • Business Development Manager • Service Advocate • Transfer in Program team • Systems support • Customer Service • Project Support and Deliverables • Project plan and management • Pre-fill application and transfer forms • Financial Assistance • Manage transfer process • Training on MRS platform and processes (C) MRS 2010

  10. MRS Fee for Service Offering

  11. MRS Fee For Service Offerings • Retail • Target for Independent Advisor to service individual client accounts • Simple and complete • MRS Client Agreement • Simple fee formula • Fees collected monthly • Sell-out done by MRS to collect fees • Monthly statements including fee collected disclosure • Compliance Reporting for the dealer • Wholesale • Target for Dealer to customize as a white label offering • Very Flexible and customizable • Dealer/Advisor develops fee model and formula • Sends MRS Electronic feed of accounts and fees • Advisor ensures there is cash in accounts to collect fees • Typically fees collected quarterly • Compliance Reporting for the dealer (C) MRS 2010

  12. Retail FFS – How does it work? • Advisor negotiates yearly fee with investor • MRS Provides one page agreement form • Fee range of 0. 25% to 1.50% • Fee calculated on month end settlement date assets • Fee pro-rated and collected monthly from client • Fee remitted monthly to dealer net of MRS fee • MRS. admin fee is 0.25% per year • Minimum $12.50 per month • Maximum $300 per year • No annual account fee in addition to monthly charge • No linking between other FFS accounts or across to annual fee based accounts • All other account fees apply, all subject to GST • Monthly fee payment from either holdings or PAC on bank account • No minimum or maximum account size (C) MRS 2010

  13. Wholesale FFS – How does it work? • Dealer/Advisor establish a FFS model • Model based on Account Size, Asset Type, Service Level and/or return produced • Select or develop a ‘calculator’ to determine fees (Ndex Systems) • Develop a client IPS and disclosure • Fee for Service Collection • Advisor sells out of asset positions to ensure cash is available in the account • Dealer submits an electronic file to MRS for collection • MRS collects the fees and remits to dealer/advisor (C) MRS 2010

  14. Clear disclosure of fee amount paid for the year Sample year end statement (C) MRS 2010

  15. Clear disclosure of monthly fee amount Clear disclosure of fee payment method Sample Month end statement (C) MRS 2010

  16. Fee For Service exception report identifies assets in account s which generate revenue such as commission or trail Daily report acts as a secondary compliance review for fee for service accounts This report is available to both advisors and dealers Compliance reporting (C) MRS 2010

  17. Benefits of MRS Fee For Service • Stability of corporation and platform • Extensive suite of online tools • Enhanced service and support model • MFDA compliant solution • FFS account type up an running for over three years • Monthly reporting to dealer, advisor and investor • Monthly fee remittance to dealer • Automated trade execution • Easy transition for existing accounts • One page addendum is all you need • Same basic process for new accounts • Year-end fee summary for tax consideration (C) MRS 2010

  18. Application of MRS Fee For Service

  19. Application of FFS • Based on Client Need • Client request for full disclosure • Advisor needs more compensation for service (GICs, Bonds, Low MER Funds) • Advisor needs to competitive for a high net worth clients with brokers using SMA accounts • Based on product • Product only available in “F” class • Product does not pay commission or trail • Based on Business and Practice • Advisor practice based on FFS • ICPM manager with a fees (C) MRS 2010

  20. Thank youQuestions?

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