Polaris Wealth does not hold client assets or property. Instead, we have chosen two custodians to act as gatekeepers for client assets: National Bank Correspondent Network (NBCN) and Laurentian Bank Investor Services (LBIS).
Our custodians provide Canadian Investor Protection Fund (CIPF) coverage and are responsible for ensuring the safety of our client assets. Clients open accounts directly with the custodian of their choice and provide Polaris Wealth with the authorization to effect trades in their accounts and charge a management fee. Polaris Wealth has no other authority over the accounts.
The custodian is responsible for:
- ensuring the safety of client assets
- providing monthly statements
- providing year-end tax reporting
- providing online access to client accounts
- day-to-day client account operations
National Bank Correspondent Network (NBCN)
Backed by the strength of National Bank, National Bank Correspondent Network has been a premier choice among introducing brokers and portfolio managers for over 20 years. Throughout its long history, it has consistently delivered industry-leading, independently verified customer service, innovative investment products and business solutions.
Laurentian Bank Institutional Services (LBIS)
With approximately $35 billion in assets, Laurentian is the seventh largest bank in Canada and among the 60 largest banks in North America. LBIS is an integrated, full-service investment dealer and is wholly owned by Laurentian Bank of Canada.