Common use of Legacy Assets Clause in Contracts

Legacy Assets. You acknowledge and agree that Wealthsimple will not be liable for the actions of any previous investment advisor, portfolio manager, broker, custodian or entity which makes investment decisions concerning Account Assets whose management Wealthsimple assumes or is in the process of assuming (“Legacy Assets”). You acknowledge that Wealthsimple will not be held accountable for any losses, costs (including but not limited to deferred sales charges and account closing fees) or forgone gains or benefits as a result of the sale or disposition or any other transaction of such securities incurred a) before the assumption of the Legacy Assets; or b) after the assumption of the Legacy Assets if Wealthsimple has made all reasonable efforts to divest the Legacy Assets in accordance with the Investor Policy Statement.

Legacy Assets. You acknowledge and agree that Wealthsimple will not be liable for the actions of any previous investment advisor, portfolio manager, broker, custodian or entity which makes investment decisions concerning Account Assets whose management Wealthsimple assumes or is in the process of assuming (“Legacy Assets”). You acknowledge that Wealthsimple will not be held accountable for any losses, costs (including but not limited to deferred sales charges and account closing fees) or forgone gains or benefits as a result of the sale or disposition or any other transaction of such securities incurred a) before the assumption of the Legacy Assets; or b) after the assumption of the Legacy Assets if Wealthsimple has made all reasonable efforts to divest the Legacy Assets in accordance with the Investor Policy StatementAccount Investment Profile.