Discretionary portfolio management means that SONA Wealth Counsel Inc. is able to make decisions with regards to client investment holdings on a discretionary basis. As a result, we are not required to request permission from clients before making investment management related decisions.
SONA Wealth Counsel Inc. is registered as a Portfolio Manager with the Ontario Securities Commission (OSC). We are registered in the provinces of Ontario, Quebec and British Columbia. You can confirm SONA's registration with the OSC at the following link: https://www.securities-administrators.ca/investortools.aspx?id=1128#check
The OSC is an independent Crown corporation that is responsible for regulating the capital markets in Ontario. Their statutory mandate is:
"To provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk."
The OSC provides regulatory oversight to ensure that our firm is operating within the OSC guidelines.
Your money is held with our custodian bank, National Bank Correspondent Network (NBIN), a division of National Bank Financial Inc. NBIN is Canada’s leading provider of custody, trade execution and brokerage solutions to independent Portfolio Managers and Investment Dealers. NBIN is backed by the financial strength and ongoing support of National Bank of Canada.
As a discretionary portfolio manager, SONA Wealth Counsel Inc. has a fiduciary duty to act in the best interest of our clients.
A fiduciary relationship entails trust and confidence and requires that the fiduciary acts honestly, in good faith, and strictly in the best interests of the client.
The concept of fiduciary duty is recognized and used by the Canadian courts to impose a duty of loyalty on a person who has been entrusted to look after the best interests of someone else.