Your Investment Protection

image

Our office has been very fortunate. The Lunch and Learn presentations have been successful in driving interest to our office from prospective clients. In the prospective client meetings, I am noticing a growing trend – people are concerned with the sustainability and solvency of our dealer, Assante Capital Management Ltd. This is not due to a poor brand in the industry but more so indicative of the sophistication and growth of fraudulent activity in our industry as a whole.


I thought it to be prudent to address these concerns with those who may not be aware of the protection their accounts have while invested with us.

Firstly, there is the protection of being wholly owned by CI Financial, one of Canada’s largest investment fund companies. CI Financial is Canadian-owned and publicly traded on the TSX. It has a market capitalization of over $10B.

Secondly, Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund. The majority of legitimate dealers will be a member of this fund. Simply put, our clients’ accounts can be insured up to $1M against dealer insolvency. Please note that the protection does not cover losses due to market fluctuations.

Thirdly, Assante employs the services of 3rd party providers for the purposes of securities tracking and record keeping. In fact, physical securities are held by the National Bank Correspondent Network, a wholly owned subsidiary of National Bank.

Canadian banks have a great reputation for being financially sound, evidenced by their performance through the 2008 global market crisis. Bank-owned dealers are no different from an independent dealer like Assante when it comes to protecting clients’ assets.

Dealer insolvency is considered an unlikely event, especially since they may be highly regulated by an SRO (IIROC in our case) and if it is backed by a publicly-traded, multibillion dollar corporation that provides transparency and accountability through continuous financial disclosure obligations. That said, losing our clients’ confidence is something we do not take lightly and we want to address any of these concerns immediately.

For further clarification of this topic, please don’t hesitate to contact us at the office.

Related articles

Episode 29: Becoming A Great A Client Takes A Little More You Might Expect

Becoming a good client requires a great advisor. The importance of having sound advice and taking it. Savers vs. spenders and what it can mean to the future of your plan. The importance of goal setting and finally muffins are they really where it’s a…

Read More →

Episode 33: Technology: Making Us Way Better At What We Do!

Technology has had a huge impact on financial services. Market efficiencies are translating to enormous benefits for clients. Listen here today for more insights in part 2 of our debrief of DFA’s Charlotte, NC conference.

Read More →

Retirement is Shorter Than You Think

In this episode of Think Smart with TMFG, your hosts, Senior Financial Advisors Rob McClelland and Mike Connon from Assante Capital Management Ltd., dive into the issue of how long retirement could last depending on the age you retire, referencing a …

Read More →

Financial Planning Advice from Canada's Top Financial Advisors

Sign Up To Receive Email Updates On The Financial Industry And Complimentary Workshops.

By providing your e-mail address you provide The McClelland Financial Group of Assante Capital Management Ltd. with your express consent to send you electronic communications. If you choose to discontinue receiving e-mails, you may withdraw consent by contacting [email protected].

FREE RESOURCE

Get actionable financial insights from the Top financial planners in Toronto.

Toronto's Top Financial Advisors
Copyright Assante Wealth Management. © 2022

Disclaimer | Assante advisory services are offered through Assante Capital Management Ltd. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. The services described may not be applicable or available with respect to all clients. Services and products may be provided by an Assante advisor or through affiliated or non-affiliated third parties. Some services and products may not be available through all Assante advisors. Services may change without notice. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

We have a team of advisors each specializing in varying portfolio sizes. Please let us know the approx. amount of your investable assets to help us to direct you to the advisor that is best suited to you.