Having significant assets can mean enjoying a great deal of freedom. But it can also mean spending an inordinate amount of time and energy managing a complex investment portfolio. Fortunately, CDSPI can help affluent dentists truly experience financial freedom—through the Private Wealth Management Service.
Most dentists can rely on the CDSPI fund plans of the Canadian Dentists' Investment Program (www.cdspi.com/invest) to satisfy their investment needs; from the early stages of their careers, on into retirement. But if you're an affluent investor (with over $1-million in assets to invest) who may not have the time or desire to manage a complex portfolio, you may require a more sophisticated approach to investment management.
For these dentists, CDSPI's Private Wealth Management Service may offer the perfect solution.
With this service, you can enjoy the peace of mind knowing that your all of your investments (including those for growing your retirement savings, business earnings and personal assets) are being professionally managed according to your objectives. It offers sophisticated investment management from uniquely qualified professionals, complementing the high level of overall financial planning services (including insurance planning advice) available from the licensed advisors at CDSPI Advisory Services Inc.
Offered through a partnership between CDSPI Advisory Services Inc. and Cumberland Private Wealth Management ("Cumberland"), key features of the Private Wealth Management Service include:
When you invest through the service, you receive the benefit of ongoing consultation with an investment professional who has a deep understanding of your financial needs. This professional is responsible for examining your overall financial situation, determining your risk tolerance, helping you set goals, developing an asset allocation that is appropriate for your situation, selecting appropriate investments and monitoring your portfolio.
Unlike a mutual fund portfolio (where the portfolio manager is not aware of your individual financial objectives) with a customized portfolio, the manager knows your risk tolerance, investment goals and preferred tax situation and creates a per-sonalized portfolio with these objectives in mind.
Your portfolio will be monitored and rebalanced regularly so it stays in line with your predetermined asset allocation and your investment policy statement—a blueprint detailing your financial situation and objectives.
Because your account is managed by an expert, you're free to focus on other matters. But at the same time, you're kept fully informed about the progress of your investments through detailed reporting, which includes:
- confirmations on all trades
- monthly account statements
- quarterly portfolio valuations (where returns shown are net of all fees)
- quarterly investment outlook commentaries
- annual dividend, capital gains and income statements (corporate year-end reporting can be set for any calendar date)
In addition to regular contact by phone, your portfolio manager will arrange in-person meetings with you (typically on an annual basis) no matter where you reside in Canada. As well, you'll have 24/7 access to your account via the Internet.
Security/Conflict of Interest Protection
To provide security for clients, assets that are managed by Cumberland are segregated from the firm by being held in-trust at TD Waterhouse in the client's name. Furthermore, Cumberland has no ownership affiliation with any other financial institution or bank, and does not create products for the purpose of distributing or cross-selling them.
You may be surprised to learn that these personalized, portfolio management services are available at a lower average percentage cost than you would typically pay for feebased trading programs and noncustomized, pooled investments such as mutual funds. Through CDSPI's Private Wealth Management Service, reasonable investment management fees are based on a percentage of the value of the assets in your portfolio. This is a significant advantage that can allow more of your investment returns to remain in your portfolio.
To determine if this service is appropriate for your wealth management needs, contact CDSPI Advisory Services Inc. to speak* with a licensed, non-commissioned Certified Financial Planner. Dial 1-877-293-9455 (tollfree) or (416) 296-9455, extension 5023. For online information, visit www.cdspi.com/private-wealth.