By: Prem Malik  09-12-2011
Keywords: Insurance Brokers, Mutual Fund

Prem believes that how he gets paid for his services should be clear and upfront. His clients are trusting him with their money, security and financial future; therefore he is committed to being straight forward and honest with regards to all fees and commissions he receives from the products he proposes.

A commissioned sales person for stocks, bonds and mutual funds, Prem gets paid a commission from the sale of these investment solutions he proposes for his clients. He also is paid a commission for all insurance sales. Insurance is sold through his relationship with Queensbury Insurance Brokers Inc.


Stocks, bonds and Exchange Traded Funds or ETF’s are sold with a commission and transaction cost. These costs are negotiable based on the size of the account.


Front End: When an investment is made ‘front end’ in a mutual fund, the advisor is paid a negotiated fee of between 0 to 2% directly by the client. The amount is deducted from the initial investment and the balance invested. Other than early redemption fees which a fund company may impose, there are no other redemption charges.

Back End: When an investment is made low load in a mutual fund, the advisor is paid a fee of between 1 and 2.5% directly by the fund company. The fund company expects the investor to remain with the fund family for a minimum period of 3 years. Early redemption will give rise to redemption charges.


All mutual funds pay a ‘service or trailer’ fee to Queensbury. This will range between 0 and 1%.


There are annual trustee fees for all registered accounts which may be administered by Haywood Securities or B2B Trust or other trustees. These will be declared by the trustee along with other administration charges they may have.


The insurance company pays a commission on a percentage of the annual premium for an insurance policy and annual renewal commissions.(Insurance sold through Queensbury Insurance Brokers Inc)


Each client has the flexibility to determine how they want their investments invested. Prem normally invests non-registered assets front end with zero commission, and registered assets low load. Prem is not allowed to negotiate insurance commissions. Non mutual fund purchases such as flow through limited partnership units cannot be negotiated and the fees are detailed in the offering documents.

Prem will negotiate a fee for service with clients with over $500,000 in total assets.


Queensbury collects the above fees and pays Prem his share based on a negotiated payout.

The information in this article was current at 06 Dec 2011

Keywords: Insurance Brokers, Mutual Fund

Other products and services from Prem Malik


PREM’S POLICY | Prem Malik

Commitment: Prem will constantly oversee your portfolio and give you ongoing advice to ensure that your financial plan is meeting its short and long-term objectives at all times. Prem will not propose any insurance policies* or mutual fund investments if they don’t make sense for his client’s portfolio or financial plan.



You can get a double tax credit for the same expense….this is wonderful….say you updated your windows and get the eco-energy retrofit grant. There are many other eligible expenses so check this out carefully because even blinds and window coverings are eligible. A client asked me this weekend…would installing a hot tub qualify me for a Home Renovation Credit.


SERVICES | Prem Malik

He only has you and your family’s best interest in mind, offering solutions that are distinctive, thorough, and give you what you want out of life. A truly unique advisor, Prem not only has the experience to get you on the right track, but also the personal dedication to keep you there. That is the type of service only an honest, hard working advisor like Prem can provide. Estate planning, living wills and power of attorney.


MALIK’S CORNER | Prem Malik - maliks corner

The US appears to be embarked on fiscal and monetary policies of weakening their currency in an effort to make their exports more competitive and in the process provide a stimulus to their domestic economy. Even if one does not live in the United States estate tax applies to anyone who owns “US situs property” made up of shares and debt of US companies including what is held in a deferred plan such as a RRSP.