At CI Assante Wealth Management, ensuring the security of assets entrusted to us by clients is a key priority. It goes hand in hand with our mission – to help create wealth and prosperity for Canadian families.

In partnership with our professional advisors, who are among the most highly respected and accredited in the country, we are pleased to outline here four key safeguards that are in place to protect your assets: our strong corporate backing, the security safekeeping measures we follow, our adherence to strict industry standards and industry-wide investor protection.

Sincerely,

Sean Etherington
President
CI Assante Wealth Management

Strong corporate backing

The first level of client protection is provided by our comprehensive governance processes and the substantial financial resources of CI Assante Wealth Management’s parent company, CI Financial Corp. Assante’s legal and compliance personnel keep senior management, as well as CI Financial’s board of directors, aware of legal, regulatory and compliance matters on a continuous basis. In addition, CI Financial’s Internal Audit Department plays an integral role by reviewing and testing the processes and internal controls of Assante to ensure they are meeting regulatory requirements.

CI Financial is listed on the Toronto Stock Exchange under the symbol “CIX” and is a component of the S&P/TSX Composite Index. CI Financial’s status as a publicly traded company provides additional transparency and accountability through continuous financial disclosure obligations.

CI Financial, Canada’s third largest investment fund company, is financially strong. See CI Financial’s most recent annual and quarterly reports and other related investor information.

Security safekeeping measures

Assante is required by regulators to maintain adequate capital to cover our business risks, keep comprehensive and accurate records and employ appropriate securities handling procedures. Most securities owned by our clients are held through central industry-wide electronic or book-based systems. In this approach, investments are tracked using independent service providers, including FundSERV in the case of mutual funds, and the Canadian Depository for Securities for most equity securities. In situations where fully paid up securities are physically held by us, they are kept separate from any securities related to our corporate investing activities and are subject to regulatory audit on an annual basis. This safeguard helps to ensure that clients’ investments are not subject to any risks related to their dealer’s business activities and are adequately segregated for the benefit of clients. Custodial services for all securities, other than mutual funds, held in client nominee accounts are provided through CI Investment Services Inc., and National Bank Independent Network for client margin accounts. The provision of security recordkeeping and custody by independent service providers results in multiple parties being involved in transactions within our clients' accounts. The benefit to clients is additional oversight of the firm's procedures to ensure all assets are accounted for accurately.

Strict industry standards

Assante’s dealer subsidiaries, Assante Capital Management Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC), and Assante Financial Management Ltd., a member of the Mutual Fund Dealers Association of Canada (MFDA), are subject to the oversight of the provincial securities commissions. Both Assante Capital Management and Assante Financial Management are required to adhere to regulations governing investor protection, financial market integrity, and stringent recordkeeping. These requirements are monitored by IIROC and the MFDA, respectively, through independent audits conducted regularly by external auditors and by examiners or the regulators. IIROC and MFDA undertake business conduct examinations that include the assessment of marketing materials, trades, disclosures on client statements, and branch operations, as well as financial compliance audits that include a detailed review of the firm’s financial and custodial procedures and adherence with regulatory policies. In addition, every financial advisor at Assante is subject to regulatory oversight. For every relationship you have, we would encourage you to check with the applicable regulator to ensure the firm is registered and in good standing.

Industry-wide protection

Although Assante clients’ assets are segregated from the dealer’s assets, additional security is provided to our clients through industry investor protection plans that will reimburse investors, within predefined limits, if their dealer becomes insolvent or bankrupt and their assets are missing as a result. The Canadian Investor Protection Fund reimburses clients of securities dealers up to a maximum loss of $1 million by account type (i.e. separate coverage for open accounts and registered accounts). The MFDA Investor Protection Corporation provides similar protection for clients of mutual fund dealers.

For more information

To find out more about how your assets are protected, we encourage you to visit these online sources:

The advice you need when you need it

We appreciate that you have worked hard to attain your wealth — and we know that you desire to do good, invest well, and pass on not only your wealth, but also your values to the generations to follow. We also know that managing your wealth can be complex and time-consuming. As your Assante advisor, together we will help you define and prioritize each of your goals and we build a comprehensive wealth plan that will help you achieve them. We will walk beside you throughout your life to help you navigate all of the challenges and complexities you may face along the way. 

Joe Tamburri

Financial Advisor

Joe is an experienced and knowledgeable financial advisor, always ready to work with you to ensure you and your family’s financial goals are reached. Joe graduated from Niagara College in 2007 with a degree in Operations Management, he is MFDA licensed, and is also licensed to provide life insurance, health and sickness insurance and group benefits. Working for the past 10 years in the financial services industry as a financial advisor, Joe has helped many clients reach their financial goals. Joe has helped families, business owners and professionals choose, invest, and manage plans to best suit the client’s needs. This has provided Joe’s clients with safe investments and excellent returns. As a financial advisor, Joe‘s main goal is to help you make well-informed decisions about your money. Joe also emphasizes the need to adjust investment plans as your goals and needs change. Joe always listen to your concerns, shares all information about potential investments, including benefits, risks, and tax issues, and treat your financial goals with the same care and interest that he devotes to his own. Joe looks forward to being your trusted advisor and expert resource as you build your future. 

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At CI Assante Wealth Management, we will work with you to develop a personalized wealth management strategy to meet all your financial milestones. Your plan will be designed based on your goals and needs, built with best-in-class investments, and continually monitored to ensure it keeps you on track toward the future you desire. If you are looking for a financial solution that will simplify and enhance your life, please contact me for a confidential consultation.

 

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St. Catharines, Ontario
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