What’s New in 2018 for Mackenzie Private Wealth Counsel, Mackenzie Portfolio Architecture Service and Mackenzie Open Architecture Service?

Below is an outline of Documentation, Process & Procedural Changes for 2018.

In 2017, Mackenzie Investments (“Mackenzie”) and Mackenzie Private Wealth Counsel (“Mackenzie PWC”) engaged in a special project to update and modify Mackenzie PWC’s Portfolio Architecture Service (“PAS”) and Open Architecture Service (“OAS”) documentation, processes and procedures in light of sound practices and the ever evolving regulatory climate.

Here’s what Mackenzie and Mackenzie PWC are changing this year to address the noted issues:

1. A new PAS Investor Profile Questionnaire Process / Package:
   Commencing February 2018 Mackenzie PWC will launch a new PAS Investor Profile Questionnaire process. The new process will require the advisor to score the investor’s PAS Profile Questionnaire, will require the advisor to show the investor the specific PAS model portfolio their PAS Profile Questionnaire results point to (from the full spectrum of current PAS model portfolios) and give the advisor a framework from which they can modify the recommended PAS model portfolio to arrive at their final recommended PAS portfolio.

   Below are links to the new Mackenzie PAS Investor Profile Questionnaire package:

   • Sample Investor Profile Questionnaire
   • Sample Investor Profile Questionnaire Worksheet (Advisor Use)
   • Sample Investor Profile Questionnaire Score grid (Advisor Use)

2. A new Mackenzie PAS and OAS Portfolio Implementation Process:
   Commencing February 2018 advisors and their dealers will be responsible for placing fund purchase trades or inter-fund exchange trades in order to implement PAS or OAS multiple account portfolio solutions. In doing so all associated trades will appear on the dealer’s trade blotter to ensure for adequate dealer supervision.

   In order to simplify the process of implementing advisor recommended PAS or OAS portfolios Mackenzie PWC will require from the advisor and the dealer a new form called the Investment Allocation Sheet (“IAS”). We will support you in the preparation of the IAS form which will outline all required fund trades (by account) to implement a household PAS or OAS portfolio. This form will require both advisor and investor signatures and will appear as an appendix in the final governing client agreement for both managed portfolio services.

3. New Mackenzie PAS Client Agreement Form and Mackenzie OAS Client Agreement Form:
   Below are links to the new Mackenzie PAS Client Agreement Form and the new Mackenzie OAS Client Agreement Form. Both forms fully reflect noted 2018 PAS and OAS procedural and disclosure modifications:

   • Sample PAS Client Agreement Package (Including IAS)
   • Sample OAS Client Agreement Package (Including IAS)

4. Re-Papering of existing PAS and OAS Accounts:
   Effective January 2018 Mackenzie PWC will undertake a year-long project to re-paper all existing PAS and OAS Accounts to transition all investors to the 2018 modified PAS and OAS Client Agreement Form packages. This project will require the cooperation of both advisors and their dealers to complete. Mackenzie and PWC will work closely with you to ensure a smooth transition.