I personally did not have a very good experience them. My Father lost over a million dollars within a MIC in a private company in which they were the trustee. My Father passed in early 2018 and when trying to reconcile his investment with so many questions as to why the issued T4RIF slips on NAV, seemed to skirt all my qustions. Since the RRIF nvestment was in the exempt market in Calgary, no financials were ever issued. Although there are numerous court cases that ultimately now hold Olympia as nothing more than an issuer of tax receipts, it seemed to me they just turned a blind eye as seniors lost all their retirement funds. Everytime I objected to their annual T4RIF slip based on a declining NAV plug and called the FMV, I received the CRA legislation quoting their responsibility of reporting minimal withdrawls - and they issued T4RIF slips based on in-kind withdrawls with more worthless Fieldstone Capital preferred stock issued in exchange. Fieldstone was a MIC in Calgary, and did pay at the beginning. As it turned out too, Sterling Bridge Mortgage, a related company to Fieldstone Capital, drained any cash as fees after the crash in the Real Estate Martket in 2011.
Keith Prosser, whom my father knew for over 25 years, did direct my late father to this blatant theft of his money. There is more to this story ...
However, Is there anyone else here, that also experienced tremendous loss respecting their family's RRIF's?
