Crystal Wealth Funds Liquidation
All financial advisors of the firm were terminated so the only way to get any info about funds is via the receiver.
He has been in urgent need of money since June and wanted to pull out money from his TFSA and RRSP to get his first house in the cooled off market.
As per the last update from the receiver, he doesn't see any money coming his way soon as the creditors have claims for more than the funds' amount. Meanwhile, I searched MFDA website and don't see the firm listed with MFDA. What are his options? Whom should he contact? He's stressed and needs some advice as this is all the savings he has.
Details of the case can be found at https://www.grantthornton.ca/services/r ... stalwealth
News: http://www.wealthprofessional.ca/news/i ... 25206.aspx