June 2017

Our HollisWealth office would like to thank all of our RESP clients for your time in resolving the necessary paperwork in preparation for our transition to Industrial Alliance (IA) this August. We understand that it was a minor inconvenience and truly appreciate all of your patience and flexibility throughout the process. We thank all clients who took the time to come to the office or have us visit their home. Because of you we are about 95% complete and well positioned for what comes next.

Effective July 1st, our office is resuming summer hours, which means we close early on Friday afternoons at 4:00pm: wishing you a safe and active summer season.

Our New Parent Company Industrial Alliance (IA) and what this means to you:

First and foremost we would like to start off by apologizing with regards to the letter sent from both Bank of Nova Scotia and our new Parent Company Industrial Alliance. The reason for the apology is that the letter caused more confusion than good. While following regulatory requirements and trying to keep clients well informed, the letters actually caused more confusion and this was not the intention. That said as a reminder it is business as usual at our office even with the transition to Industrial Alliance slated for August 2017.

What remains the same:

  • The name HollisWealth
  • Website – remains and
  • HollisWealth Insurance Agency Ltd. – Insurance Company
  • Client Account numbers
  • Contact details – Email and Fax & Phone number
  • Office Staff
  • Ability to waive trustee fees for next 5 years for qualifying accounts.
  • Ability to continue to provide Investment choices: Savings Accounts, GICs and Mutual Funds.

What will change:

  • Look of client statements (new and improved more details)
  • New online web access HollisWealth Client Portal (sign up details to follow shortly with Client Number to be assigned in advance by mail.)
  • Investia Financial Services Inc. formerly HollisWealth Advisory Services Inc. Investment Company
  • Deposits/Withdrawals from Client Bank Accounts will appear as Investia Financial Services vs HollisWealth Advisory Services Inc.
  • Cheques for investments done in person will be payable to HollisWealth in Trust

For the most current updates please visit the transition website:

In mid-month of July 2017, HollisWealth Head Office will be distributing a client information package, which should detail for you any steps required as part of the IA transition, including accessing our new online account system Client Portal. We wish to reassure you that although HollisWealth is entering into new ownership our office is committed to assisting you with your financial and life planning needs. The name HollisWealth remains, Roman will stay on as your advisor and we will continue to bring the level of service that you have come to expect and appreciate.

Around the Office:


Ashley is still organizing everything for the RESP transfers from nominee to client name which is coming to a wind down. She is also preparing for the baseball client event for August 20th with the Buffalo Bisons. Ashley continues to work with the insurance companies to learn more about what products they offer and what will be most helpful to you, our clients.


As a requirement of her new licensing with the MFDA, Sarah has completed her initial 90 Day training period. It is a relief to be nearing the end of this process just in time to focus all attention on the upcoming transition to IA. Over the next few months, we will be attending training sessions and completing various modules to best prepare our office for a smooth transition to the new systems under IA as HollisWealth.


The second quarter brought about the conclusion of “tax reporting” season and the commencement of “transition” season. The whole team has been working diligently to ensure a seamless transfer of all RESP plans to our new software reporting system under the partnership with Industrial Alliance.

We are constantly reviewing our investment outlook as well as reviewing our top recommendations both for asset allocation and geographical allocation. We continue to maintain a strict mandate to properly diversify each client account based on risk and objectives. During the quarter we have removed and added various investments within our recommended list to try to achieve the best possible returns with minimal volatility. Hence the importance of our Annual Client Review to stay current with regards to not only industry changes and the environment but as well with changes within our clients’ lives.

Manulife Travel Insurance Newsletter Info

Summer is here, and with the warm sunny weather people like to travel more. And no matter your age and health, purchasing travel insurance, for in and out of Ontario or even if it’s for going to the USA for business for a few days, is a smart move to help protect you from any unforeseen medical expenses you may incur if you become ill or infirm.

We offer travel insurance for all of our clients to help protect them from any surprises. Some of the plans that we offer are:

  • Emergency Medical plans
  • All Inclusive Plans
  • Travel in Canada Plans
  • Trip Cancellation/Interruption plans
  • Multi-Trip Plans

We also offer travel insurance for family or friends that are coming to Canada to stay. It can be purchased prior to their departure or when they first arrive. It can help them against the cost of surprise medical emergencies that may occur during their visit to Canada.

Ordering travel insurance can be quick and easy, if you don’t have time to visit our office before your vacation; you can go to and on the main page is a link that will bring you to a website where you can enter the specifics of your trip and desired coverage. It is quick and easy to do from home.

Bill S-201 Update

In our last newsletter, we presented the ongoing debate of whether insurance companies can use results of genetic testing when making insurance coverage decisions for individuals. The following is an article that summarizes where matters stand now:

*Important: Bill S-201 (Genetic Non-Discrimination Act.) First published June 1, 2017
By: Brian Laundry - Limitless energy.
Insurance Consultant - HollisWealth Insurance Agency Ltd.

I know most of you rely on me to be more up-to-speed than you on insurance-based changes/issues. That said, there was much discussion about Bill S-201 that was largely overlooked because of the exempt test changes effective on January 1, 2017.

Here's the scoop.....on May 4, 2017, the Federal Government passed the Genetic Non-Discrimination Act.

"This law makes it illegal to require someone to take a genetic test or disclose the results of a genetic test as a condition to obtain goods or services, or enter into a contract, such as insurance."

So what exactly does that mean? It means that individuals (you, me, clients) can have genetic testing completed and NOT DISCLOSE those results to the insurance company (it's now illegal). If an insurance company uses/requests this information and it will be fined $1,000,000.

When I was in Ottawa at calu [Conference for Advanced Life Underwriting] weeks ago, they are lobbying this issue to the supreme court, but as of today, this law is in effect.

The major unintended consequence of this new law is the creation of anti-selection for insurance purposes. What if a client had genetic tests that showed they were a carrier of the BCRA gene (ie. Angelina Jolie)? Currently, it is possible for a client to have a test showing they are a carrier of this gene, then immediately apply for critical illness insurance and not need to disclose this result.

This law will require the [insurance] companies to (a) increase price heavily (up to 65%) and/or, (b) completely change the structure of critical illness insurance (or stop selling it entirely).

Since I knew that this change was happening, I literally just increased my own critical illness by $825,000 (I purchased a 20 year term with Manulife).

It's important we talk more about critical illness insurance before products start to change. I also encourage each of you to consider adding some critical illness to your own insurance portfolio (if you haven't already).

Tip of the Quarter

Critical Illness Insurance – Something Healthy Individuals Do Not Need However More And More Healthy Individuals Are Putting In Place.

This newsletter was prepared by Roman A. Groch who is a registered representative of Investia Financial Services Inc. (a member of the Mutual Fund Dealers Association of Canada and the MFDA Investor Protection Corporation). This newsletter is not a publication of Investia Financial Services Inc. and the views and opinions, including any recommendations, expressed in this newsletter are those of Roman A. Groch alone and not those of Investia Financial Services Inc.

Investia Financial Services Inc. does not provide income tax preparation services nor does it supervise or review other persons who may provide such services.