In January, as per regulatory requirements, you will receive new reports for each account you hold with us. These reports will be provided annually and are separate from and in addition to your statement of account which details your holdings and activity during the period. These reports, will be printed on a double-sided sheet of paper, and mailed in one envelope by beneficial owner.
 
The Performance Report will provide you with your personal rate of return. Your personal rate of return is based on the timing and amounts of each deposit and withdrawal for your account, dividends and interest earned from your investments, changes in the value of the securities held in your account and the mix of different investments in the portfolio. You should compare your personal rate of return to your target rate of return to evaluate whether you are on track to meet your investment goals. Initially the performance for the account will be calculated from January 1, 2016 to December 31, 2016, even if your account was opened prior to this period. This period was selected as the method to calculate performance was changed in order to meet regulatory requirements. In future, this report will provide one year, three year, five year, ten year, and since inception annualized returns from this date.

The Charges and Compensation Report summarizes the direct costs charged by Richardson GMP to you and the portion of indirect costs of products charged by third parties that was paid to Richardson GMP in providing advice, servicing, managing your portfolio, maintaining and reporting on your account during the year. This report is not an invoice but is intended to help you understand the costs of our services. These costs include but are not limited to such items as (i) administration including processing transactions, statement preparation and other reporting; (ii) advice, the expertise my team provides to help determine your financial needs, investment objectives and risk tolerance, suitable product recommendations, portfolio construction and management, ongoing reviews, account monitoring, and rebalancing, and (iii) investor protection, which includes product review, supervising accounts and suitability reviews.

Please feel free to contact us after you have received the reports. We will be happy to explain and discuss any items therein and also review your investment progress to ensure we are on course to help you achieve your goals.

We thank you for your ongoing support and are committed to providing you with the highest level of service.