Beginning in January 2017, clients will receive two new reports in addition to your Year-End Quarterly Statement from Worldsource Financial Management Inc.. The purpose of these two reports is to ensure that all investors receive timely, easy-to-understand information about the costs and performance of their investments so that they can have a better discussion with their advisors and make more informed decisions.
The Annual Performance Report and Annual Charges & Compensation Report – will be sent annually with your year-end statement in January. Here’s what you can expect to see:
Annual Performance Report
Tells you how your investments have performed over a noted period
- Rate of Return is calculated using the “money-weighted” method which takes into consideration the timing of your personal deposits and withdrawals
- Performance figures are after costs have been deducted (net of fees)
- The “inception date” that is listed on these reports is January 1st, 2016. If you opened your account after January 1st, 2016, the date you opened your account will be the inception date for this report. Over time you will receive 1-year, 3-year, 5-year and 10-year data on an ongoing basis based on this inception date.
Annual Charges & Compensation Report
This report summarizes the compensation that Worldsource received directly and/or indirectly over the past year
- There are two sections:
- Amount we charged you – these include administration fees and other service fees charged directly by Worldsource
- Amounts we received from third parties – these include fees paid to Worldsource from external sources such as mutual fund companies