How it works

We have partnerships with various financial institutions that we use as a part of this process. They are all regulated by the Office of the Superintendent of Financial Institutions (OFSI) which is a government agency that regulates financial institutions such as banks, credit unions, and trust companies. Your funds are 100% protected by the Canadian Deposit Insurance Corporation (CDIC).

If your Locked-in account (LIRA, LRSP, LIF) is not with one of the institutions that we use, we will need to open a new locked-in account for you with one of our partners.

The role we play in this transaction is that we are a lead generation referral site. In other words, we are the middleman between you and the financial institutions able to assist you in accessing your funds. It is our job to confirm that your plan qualifies for this transaction, and if so to match you with the best suited Canadian Financial Services Provider. We are also responsible for being your main contact through the process and coordinating everything from A to Z between all the different institutions involved.

The process takes anywhere from 2 to 6 weeks depending on what type of plan you have and with which financial institution your plan is.

Don't forget that we are more than happy to provide you with an advance if you have an immediate financial emergency to address. ​

Are my funds protected? How do I know that with this I will not lose my money? As mentioned before, all our Financial Institution Partners are properly registered and certified with the relevant and applicable government agencies. Your funds are also protected under the Canadian Deposit Insurance Corporation (CDIC).

Aside from this, there are several checks and balances in the process to ensure the safety of your funds, starting with your current financial institution. They will not transfer your plan unless the receiving institution is legally allowed to operate as an entity that may receive locked-in/registered plans.

The funds are transferred into a new account registered in your name. Therefore, once your funds are transferred, no one can access your funds or have them transferred or released without your consent.

You have the capacity to cancel the transaction at any time prior to receiving your final deposit. Basically, until the funds are released to you, you still have the right to terminate this agreement and have the funds returned to your original institution.

Additionally, there are severe fines and potential loss of licenses for all the institutions involved in the process. As you can assume, this would be a critical blow to all the companies involved and we would not operate in a capacity that would lead to this.

Finally, you have us as another layer of protection. Since we are the broker/referral service, we work for you. The last thing we want is an unsatisfied client or a client that was not 100% happy with our services. Our reputation is our resume. Poor reviews, complaints online, and a negative social media presence would destroy our reputation and therefore our business. We pride ourselves on processing each account with Integrity, Efficiency, and Transparency.