OTTAWA, ONTARIO--(Marketwired - Dec. 15, 2014) - Name change emphasizes ongoing focus on core expertise: personalized financial planning and services for Canada's physicians and their families
MD Physician Services Inc., a Canadian Medical Association (CMA)-owned wealth management organization, today announced it will operate under the name MD Financial Management Inc. (MD), effective immediately.
"MD has a new name and a vibrant new look but we are the same CMA firm that has, for more than 45 years, been delivering comprehensive, personalized financial management solutions exclusively to Canada's physicians and their families. Our name better reflects our expertise-namely, serving physicians throughout their career, whether they are a medical student wanting to minimize debt, a new-in-practice resident thinking about incorporation, or a practising physician looking for more tax-efficient strategies," said Mike Gassewitz, Executive Vice President, Member Solutions, at MD Financial Management.
He added, "For years, we have helped to secure our clients' financial futures through objective advice, while offering some of the lowest fees in the business-32%1 lower than the industry average. So it is gratifying to know that the number of CMA members who choose MD as their primary financial firm is four times greater than our nearest competitor².
"Doing what is right for our clients-whether it is offering specialized services, salaried advisors or low fees-is an essential part of our ongoing commitment to them as MD begins this exciting new era," Mr. Gassewitz said.
For more information about MD Financial Management, go to md.cma.ca, talk to an MD Advisor or call the MD Service Centre at 1 800 267-2332.
About MD Financial Management
MD Financial Management Inc. (MD), with more than $38 billion in assets under administration, is a wholly owned subsidiary of the Canadian Medical Association. MD is dedicated to serving physicians and their families. MD Financial Management provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.cma.ca.
1 MD compared the management expense ratio, or MER, for MD mutual funds and Precision Portfolios™ with the median mutual fund MERs for comparable funds using data from Investor Economics as of December 31, 2013. The MER is the fee charged to investors to cover the costs of operating a mutual fund. It is expressed as a percentage of the fund's average total assets. Source: Investor Economics, December 31, 2013.
² Fifty-three per cent of Canadian Medical Association members chose MD as their primary financial services firm, with the closest competitor at 12%. Source: MD Financial Management Loyalty Survey, June 2014.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed. Their values change frequently and past performance may not be repeated. To obtain a copy of the prospectus, please call your MD Advisor, or the MD Trade Centre at 1 800 267-2332. The MD Family of Funds is managed by MD Financial Management Inc., a CMA company.