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about Fundlater




FAQs
An InvestSMART Professionally Managed Account using a Fundlater non-recourse loan is only available for
- individual and joint accounts
- individual trustee and joint trustees for a child
Key Points:
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The minimum amount you need to provide is $4,000.
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The maximum amount InvestSMART will loan is $6,000.
Explanation:
Yes, you can fund with any amount, minimum $4,000, and still be credited $6,000 or less if you desire.
Each investment portfolio requires $10,000 so as long as this total is met, you can alter the amounts.
For example, you can fund with $5,000 and be credited $5,000 or fund with $7,000 and be credited $6,000.
Not at the moment however, we may add this feature in the future.
It's important to always communicate with us if you cannot meet an instalment.
If you don't make one of your monthly payments of $325, we will send an email reminder on the 1st, 5th, and 9th days following the missed payment.
If the payment has not been received 10 days after your monthly payment due date, InvestSMART may sell all securities within your portfolio.
You will receive back the portfolio value minus the outstanding instalments.
If, for whatever reason, you will not be able to pay your instalment on the payment date, please contact us as soon as possible.
Yes, you can close your InvestSMART PMA at any time.
InvestSMART will sell down your portfolio and deduct any outstanding instalments. Once this is completed, we will return the remaining amount to you.
InvestSMART bears the risk. If the sum of remaining instalments is greater than the portfolio's value, the investor will receive no money but will not owe InvestSMART either.
No, a Fundlater non-recourse loan is not a margin loan. As long as you can continue to make the repayments your account will continue to operate no matter the market movements.