A premium portfolio service customized to your needs

Portfolio Partner is an optional CIBC Wood Gundy investment platform, which replaces transaction fees with a flat monthly or quarterly fee.

Here is how it works:

If you are a buy-and-hold type investor working with me, a buy-and-hold type advisor, you probably don't make too many changes to your account holdings. However, as time goes by and the circumstances change, some trading in the account becomes necessary. This is particularly true if you regularly add or withdraw funds from your accounts, prefer to crystallize short-term capital gains, employ stop-loss strategies, or trade options.

And even if you rarely do these things, the rules of proper asset allocation require that on the regular basis, say quarterly, we review your portfolio holdings and make adjustments.

Every "buy" and "sell" trade involves transaction costs, and depending on your investing style you might save a lot by joining the Portfolio Partner service. Within it you pay a flat fee (a certain percentage of your combined accounts value) and then trade with zero commissions all year. Actually for most accounts the number of free trades is limited to 100 per year, but that's way more than my investors usually require.

Here is a summary of the Portfolio Partner benefits:

• A flat fee is charged monthly or quarterly, making it easy for you to see how much the investment services cost. We will even send you a fee summary statement every year.
• 100 or more free trades (depending on the size of your combined accounts) in a calendar year. The ability to trade at no cost might allow you to react faster to the changing market conditions, which in the current environment is a bonus. Just don't overdo it.
• Preferred interest rates on Canadian and US cash balances.
• Waived administration fees on RRSPs and RRIFs.

How would you know which service is better for you? Would you rather pay a separate commission on each trade (a traditional arrangement introduced in 1792 under a buttonwood tree), or a flat monthly fee within the CIBC Partner platform?

To help you decide we can provide you with the record of trading commissions you've paid in the past. If you annualize this amount and compare it with the expected Portfolio Partner fees, the answer would become clear.

To receive the Portfolio Partner information package, or to discuss this further, please call me at 403-266-0148.

Regards,

Ilya.