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Posts from the ‘Private Wealth Management’ Category

17
Oct

Why Private Wealth Management?

I am asked frequently the benefits of being in the Private Wealth Management (PWM) stream versus investing in mutual funds and/or bank funds. In order to answer this, we define PWM as the following:

  • Minimum investment $500,000
  • Custodial account (TD/National Bank/Laurentian Bank) managed by an Investment Counsellor (IC)
  • IC buys and sells securities within your account based on a rigid Investment Management Agreement (IMA) signed by you
  • A fixed fee of between 1-2% per annum is charged monthly based on the dollar amount of your account
  • The portfolio is managed according to the “discretion” of the IC, and done without your signature or acknowledgement. You give the IC the authority to trade on your behalf

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