My family member recommended them because they plan to hand down a significant amount of cash, land, property, etc, and I guess thinks I should be a client. In ~10 years time I'll definitely be at or above the 3mil mark, and when my parents pass, they'll be leaving even more.

Right now I'm young and not even worth 100k. I only have my TFSA half filled with VEQT, no car, no home. They're waiving the minimum presumably because of my wealthy family member, and they've done the estate planning so they know I'll be worth it to them eventually.

I guess I can probably wait until I actually need to consider the tax implications of investing, right?