You have an account with Olympia because a Trustee is required when using tax-sheltered cash to hold the investment on your behalf in a corresponding account type.
To purchase an investment using funds held in an RRSP, RRIF, LIRA, LIF, TFSA or other registered plan, you are required to have a registered plan trustee.
Depending on the investment, you likely opened your account with the assistance of a representative of the company you invested in, a licensed dealing representative, or a mortgage broker.
Here is how it works:
- Investor = owner of the investment.
- Investment Company = issuer of the investment.
- Olympia Trust Company = registered owner (holder) of the investment.