Knowledge First Financial announces a 0.19% management fee increase to its Flex First RESP
Originally published on: February 1, 2023
Note: On February, 27, 2023, Knowledge First Financial Inc. and the Knowledge First Foundation became Embark Student Corp. and the Embark Student Foundation, respectively.
Knowledge First Financial today announced an increase to the management fee of its Flex First plan, as described in the product’s prospectus. Rising 0.19% from 1.30% to 1.49%, the change will take effect today, on February 1, 2023.
The increase will be used to offset increased plan administration costs brought on by a significant rise in inflation, while helping to improve the overall customer experience through value-added services and new digital capabilities.
Despite the change, the Flex First plan’s management fee remains very competitive within the industry.
About Knowledge First Financial
Knowledge First Financial Inc. is Canada’s largest registered education savings plan company. With over $6.0 billion in assets under management, the company is committed to empowering students by giving them the resources they need to financially and mentally succeed along their academic journeys. As a wholly owned subsidiary of the Knowledge First Foundation, a not-for-profit Canadian corporation, the company manages over 600,000 RESPs for customers, helping approximately 60,000 students through post-secondary studies each year. Since 1965, the company has paid out approximately $8.2 billion to subscribers and students through their plans.
For further information, please contact:
Customer Care Team