Safety of Assets

At Echelon Wealth Partners, safe custody of your assets is ensured.

Echelon Wealth Partners is a member of both the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). CIPF offers the clients of member firms added peace of mind as they guarantee each client account up to $1 million in the unlikely event of a firm insolvency. They also provide a separate $1 million for registered retirement accounts (RRSP, RRIF, LIRA and LIF). All non-registered securities and cash balances are held secure at our custodian Fidelity Clearing Canada ULC (Fidelity has over $5.1 trillion in custody globally) while registered cash balances are held by our custodian Computershare Trust Company of Canada.

CIPF guarantees your general accounts for up to $1 million. Registered Retirement accounts (RRSP, RRIF, LIRA, LIF) have a separate $1 million in coverage. Other accounts, like ESPs and trusts, also benefit from their own separate $1 million in coverage.

Echelon also has Financial Institution Bond coverage in the event of a loss of securities due to fraud, theft, fire, or similar types of events.

Echelon Wealth Partners has been specifically structured to maximize the safety of client assets.

The custody of all client cash and securities is entrusted to Fidelity Clearing Canada ULC (“Fidelity Clearing”) meaning that client assets are not commingled with Echelon’s firm cash or capital.

All cheques, wires, electronic funds transfers, or online banking transfers go directly to the Fidelity Clearing bank accounts. Similarly, all client securities are held by Fidelity Clearing and are never registered to Echelon. The same applies for all registered accounts, except the custodian of registered plans is Royal Trust Company (a subsidiary of the Royal Bank of Canada), with Fidelity Clearing acting as agent for Royal Trust Company.

Our Custodians

Fidelity Clearing is jointly owned by Fidelity Canada Investors LLC (“Fidelity Canada”) and Fidelity International Limited. Fidelity Canada and FMR LLC, which operates in the United States under the Fidelity Investments brand name, have significant common ownership at the shareholder level and have substantial bilateral business relationships, including in the clearing and brokerage area.

Fidelity Clearing leverages services and expertise from National Financial Services LLC, Fidelity Investments’ U.S. clearing broker-dealer, which has over 3100 clearing and custody firm clients and is the largest brokerage platform in the United States, with $5.1 trillion in assets under administration.

Echelon Wealth Partners has its registered accounts shielded by The Royal Trust Co. The assets held at Echelon in RRSP, RRIF, RESP, or TFSA accounts are in the safe custody of The Royal Trust Co., trustee for our registered plans and part of a $1.2 trillion banking group. Registered accounts are separately eligible for CIPF coverage.

Contact us today to talk about how one of our experienced and proven portfolio managers can provide independent insight, high-quality financial products, and exceptional service in a dynamic and flexible way to help you achieve your financial objectives.