Polaris Wealth does not hold client assets or property. Instead, we have chosen two custodians to act as gatekeepers for client assets: Virtual Brokers (VB), a division of BBS Securities Inc., and National Bank Independent Network (NBIN).
Virtual Brokers is the custodian we use for our online wealth management service. Full-service clients have the choice of either Virtual Brokers or NBIN; however those choosing NBIN will be subject to additional custodial fees of approximately 0.15%. Contact us for more details.
Our custodians provide Canadian Investor Protection Fund (CIPF) coverage and are responsible for ensuring the safety of our client assets. Clients accounts are held directly with the custodian of their choice and Polaris Wealth has 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
Headquartered in Toronto, the firm is registered in all provinces and territories of Canada as an Investment Dealer. CI Investment Services Inc. is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). They are a member and a self-clearing member of the following depositories CDS, DTC, CDCC, OCC, FundServ, and Cannex.
CI Investment Services Inc. (formerly BBS Securities Inc.) is a wholly owned subsidiary of CI Financial Corp. CI Financial (TSX: CIX) is an independent Canadian company offering global asset management and wealth management advisory services, with approximately $181 billion in assets as of October 31, 2017,.
Backed by the strength of National Bank, National Bank Independent Network has been a premier choice among introducing brokers and portfolio managers for over 20 years. With over 25 years of continuous service and a team of more than 200 professionals, National Bank Independent Network is one of Canada’s leading providers of custody, trade execution and brokerage solutions to independent Portfolio Managers and Investment Dealers. Today, they serve over 400 independent firms and custody over $180 billion in assets.
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Questions? Contact us via email, telephone or schedule a meeting.