The designation of a beneficiary can be done on registered accounts only (RRSP, TFSA). If you have one of these accounts with us and would like to designate a beneficiary, you will need to fill out a Registered Plan Beneficiary Designation form and send it to us via email HERE. Should you need assistance with completing this form, please let us know. We're always happy to help!
In the case where a beneficiary is not alive at the time of your passing, the proceeds of your registered account(s) will be divided equally to the Contingent Beneficiaries listed when you designate beneficiaries through your CI Direct Investing account. If you do not want the proceeds to be divided equally among your contingent beneficiaries, and instead wish to assign specific percentages of the proceeds to various recipients, then you’ll need to fill out a Beneficiary and Contingent Beneficiary Designation form and again, send it to us via email HERE
Note that residents of Quebec cannot designate a beneficiary or successor holder for their registered accounts as under civil law the division of assets is governed by will and testament, rather than by designation of a beneficiary. (not needed for launch - ETA Q3-Q4-2022)
For non-registered personal investment accounts (which are taxable), the assets are part of the estate, not separately held by a trustee as in the case of a registered account (such as a Registered Retirement Savings Plan account). Therefore, assets in non-registered accounts would be governed by your last will and testament or the intestacy laws in your province of residence, rather than by the designation of a beneficiary or successor holder.