Toronto-based Sentry Investments Inc. has announced the addition of an extended household account service to its preferred pricing program, where investors can connect their own account or accounts with those of family members.

Sentry has also extended the definition of eligible accounts beyond the accounts of investors living at the same address.

“As a result, Sentry’s broader eligibility criteria may help facilitate discussions about estate planning and intergenerational wealth transfer,” according to the firm’s announcement.

A management-fee reduction is applied beginning with the first dollar, once the household account meets a minimum aggregate investment of $250,000. Only one financial advisor can hold all individual accounts within a household account.

“We believe Sentry’s broader eligibility criteria for household account linking will enable advisors to manage and consolidate family assets by offering investors a more holistic approach to wealth management, alongside a reduction in fees for aggregated accounts,” says Sean Driscoll, CEO, Sentry Investments.

Eligible accounts can be held by:

  • the primary investor, spouse, and all other family members living at the primary investor’s address;
  • children/dependent minors and parents of the primary investor or primary investor’s spouse, residing at different addresses; and
  • corporations in which the primary investor owns more than 50% of the equity and more than 50% of the voting shares.

Sentry has also introduced a new pricing series to its fund lineup called, “Series O.” The tiered management-fee reductions for Series O are the same as those for Series P and Series PF, which were added last year, but the management fees and any negotiated service fees are paid outside the fund. Because of this, investors may be able to deduct a portion of those fees on their income tax returns.