When it comes to your investments, peace of mind starts with knowing exactly where your assets are held and how they are protected.

• Utilizing independent third-party custodians helps ensure your assets are held safely by a regulated bank, not by your investment firm.
• Daily reconciliations between Burkett and our custodian’s records helps protect you from errors.
• CIRO membership or directed custody relationships help maximize safety of your assets in event of insolvency.

As an independent wealth management firm, Burkett Asset Management Limited (“Burkett”) is often asked a simple question: “Where is my money actually held and is it safe?”

There is a simple answer that gives peace of mind. The assets we manage for you are held safely with a third-party custodian: regulated financial institutions that specialize in safeguarding investor assets.

What’s a custodian and why do they matter?

A custodian is an independent financial institution with its own terms and regulations, usually a bank or trust company, that securely holds your investments.

This separation is essential. It means your investments remain legally yours, even if anything were to happen to Burkett. Custodians provide an extra layer of protection, oversight, and transparency between you and your investment manager.

At Burkett, we reconcile our records with our custodian’s records every business day to ensure every holding, transaction, and cash flow is accounted for between organizations. It is one of the most important daily checks in place to confirm your portfolio reflects exactly what’s held in your accounts.

Your assets are held in the safety of a bank

The assets under Burkett’s management are held directly in your name at one of three reputable custodians:

• Scotiatrust
• RBC Investor Services
• Aviso Financial Inc. (formerly Credential Qtrade Securities Inc.)

Each custodian is a regulated Canadian financial institution, and each has its own strengths and safeguards. Burkett cannot withdraw any funds, except charging our management fee.

Scotiatrust and RBC Investor Services are directed custody arrangements, meaning your assets are held segregated from the bank’s balance sheet. This means in the unlikely event the bank ever faced insolvency, your funds would remain secure.

Our third custodian, Aviso Financial Inc., is a Canadian Investment Regulatory Organization (CIRO) member firm, insured by the Canadian Investor Protection Fund (CIPF). CIPF coverage provides an additional layer of investor protection, not unlike deposit insurance at your bank, but for your investments, protecting eligible property in the event of a custodian’s insolvency.

How to determine if your firm uses a custodian

If you’re ever unsure whether your money is held securely, ask two questions:

1. Is my investment firm registered with a securities regulator? You can confirm this easily by checking the Canadian Securities Administrators’ national registrant list, here.
   
2. Does my firm use a third-party custodian to hold assets? You should receive statements directly from that custodian, not just your advisor. This independent reporting is your assurance that your assets exist, are properly recorded, and remain under your name and control.

The Burkett difference: independence and integrity

At large banks, your investment advisor is often also your broker, meaning the same institution sells you products and holds your assets. This creates potential conflicts of interest as the bank benefits from promoting its own products.

Burkett is different. As an independent fiduciary, our only incentive is to act in your best interest. By utilizing independent third-party custodians, we eliminate any temptation to steer assets toward any particular institution’s products.

Your investment manager and your custodian have distinct, independent roles:

• The custodian safeguards your assets and issues independent reporting.
• Burkett manages your portfolio, selecting investments guided solely by performance, risk, and your long-term goals.

This independence is the foundation of trust, and it’s why clients choose Burkett for the long run. We believe true wealth management is not just about growing your assets, it is about protecting them. Through daily reconciliation, directed custody, CIPF insurance, and independent oversight, your investments are not only managed with care, they are safeguarded with precision. Your peace of mind is our priority.

If you would like to learn more about how Burkett’s custodian relationships enhance the safety and transparency of your investments, contact us today to schedule a conversation with one of our portfolio managers.