Toronto, October 1, 2024 — RBC Investor Services (RBCIS) has been selected as custodian and fund accountant for Kaleido Growth Inc. and its IDEO+ registered education saving plans (RESPs) and legacy funds. This agreement marks the first between Kaleido Growth Inc. and RBCIS and will take effect on October 1, 2024, with the transition of assets.
Kaleido Growth Inc. is a pioneer in education savings in Canada, helping children to achieve their full potential by accompanying them on their journey towards imagining a brighter future. As industry pioneers, Kaleido contributed to the introduction of the RESP and in 2022, launched its line of individual scholarship plans IDEO+ designed to better meet all its clients’ needs.
“We are thrilled to welcome Kaleido Growth Inc. as a client, and to be a part of helping them achieve their aspirations,” says Claire Johnson, Chief Executive Officer, RBC Investor Services.
“The mission of Kaleido aligns with RBC’s purpose of preparing youth for the future,” adds Sylvain Gervais, Managing Director, Business development and Co-Head, Quebec and Eastern Canada, RBC Investor Services. “We are enthusiastic to work with Kaleido on additional opportunities to expand this partnership.”
This new relationship between RBCIS and Kaleido Growth Inc. reinforces RBCIS’ reputation as a leading provider of asset services in the Canadian market. Through its extensive range of services and its commitment to client-centric solutions, RBCIS continues to build momentum and solidify its position as a preferred partner within the asset servicing industry.
Jean-Stéphane Parent, Vice-President and Chief Investment Officer at Kaleido Growth Inc. commented: “We are pleased to partner with RBC Investor Services to support us in delivering superior investment solutions to our clients. We believe their expertise in custody and fund accounting will further strengthen our operational capabilities and allow us to focus on driving value for our clients."
About RBC Investor Services
RBC Investor Services delivers investment servicing solutions to Canadian asset managers and asset owners, insurance providers, investment counsellors and global financial institutions. With more than 1,600 employees and offices across the globe, our focus is on safeguarding the assets of our clients and enabling their growth. Part of Royal Bank of Canada, Canada’s largest bank and one of the top 10 banks globally, RBC Investor Services has over C$2.4 trillion of assets under administration. Learn more at rbcis.com.
About Kaleido Growth Inc.
A pioneer in education savings since 1964, the Kaleido Foundation is a non-profit organization that has paid out over $1 billion in educational assistance payments and saving refunds over the years. Kaleido has over $1.8 billion in assets under management on behalf of some 236,000 young people.
Kaleido helps families in Quebec and New Brunswick give their children a leg up on future success. Every day more than 200 employees and representatives create brighter opportunities for youth through education savings and family coaching services. Visit us at www.kaleido.ca.
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Media contact:
Brianne Sommerville, RBC, brianne.sommerville@rbc.com