Smart Prospectus is the first timely, cost-effective, print-on-demand fulfillment solution for delivering mutual fund prospectuses and trade confirmations to investors. It was designed to assist dealers in meeting statutory delivery requirements and to replace current manual fulfillment practices that are unreliable and costly. With Smart Prospectus, investors receive only the information about their recent mutual fund investments. In its efforts to support broker dealers using this service, AIC, Canada's largest privately-held mutual fund company, has decided to cover the costs of printing the portions of its prospectus documents that are included within a Smart Prospectus package.
In addition, AIC chose Smart Financials to distribute customized annual reports to investors. Smart Financials is a cost-effective and timely annual report fulfillment solution, which compiles annual reports containing only the financial statements that are related to an investor's holdings resulting in a relevant, manageable document for investors and a reduction in AIC's print and mail costs.
As an ongoing client of ADP for delivering regulatory information, AIC was one of the first companies that recognized the need to develop personalized communications with unit holders. "AIC was a pioneer among the mutual fund industry in terms of undertaking personalized annual and semi-annual reports with ADP years before NI 81-106 came into being," said Mickey Falcone, AVP Marketing, AIC. "We were ahead of the curve in this regard and ADP was instrumental in making that possible. In addition, Smart Prospectus makes it easier for broker dealers to do business with AIC and we're pleased to partner with broker dealers on this offering."
Sue Britton, Senior Vice President, ADP Investor Communications, said, "We work with our clients to understand their unique challenges and we create customized solutions that help them attain their business goals. Smart Prospectus and Smart Financials bring value and enrich the overall customer experience for both AIC and their investors."