The Investment Dealers Association of Canada is switching to quarterly billing of membership fees.
The IDA’s board has approved a by-law amendment, effective immediately, to shift its fee assessments to a quarterly basis.
The IDA says that the move is intended to allow it to align its cash inflows more closely with cash outflows, and to spread out the payment load for smaller members.
“Currently the IDA’s members’ fees are approved as part of the budget process and are therefore a stable source of revenue. However, there are significant fluctuations to the IDA’s cash outflows,” it says.
“The IDA, from a cash management perspective, would benefit from a move to quarterly invoicing of members’ fees. This would smooth out the revenue stream, with the added benefit of spreading out the payment impact for smaller members.”