Polaris Wealth does not hold client assets or property. Instead, we have chosen two custodians to act as gatekeepers for client assets: National Bank Independent Network (NBIN) and Virtual Brokers, a division of BBS Securities Inc.
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
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.Virtual Brokers, a division of BBS Securities Inc.
Virtual Brokers has been ranked the #1 On-line Broker by the Globe and Mail five times. Virtual Brokers (“VB”) is a division of BBS Securities Inc. (“BBS”). BBS is Canadian-owned and operated, and is registered in all provinces and territories of Canada as an Investment Dealer. BBS is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). BBS Securities Inc. is a wholly owned subsidiary of CI Financial Corp. CI Financial 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.