Private Client Services

 

As a firm we have been dedicated to serving the investment needs of private clients since our inception. We pay careful attention to our clients' investment goals and provide a high level of service and responsiveness.  We work with each FGP client to develop an Investment Policy and asset mix strategy customized to their specific financial objectives, time horizon, risk sensitivity, cash flow needs, tax considerations and other constraints.

 

Clients may choose to receive their portfolio statements monthly or quarterly, and detailed reporting is provided every quarter on their portfolio performance. We meet with clients annually or more frequently as required to review their investment policy and outline future strategy. In addition, client contact by telephone takes places frequently throughout the year.

 

In addition to providing clients with the usual option of managing their portfolios on a segregated basis (i.e. by selecting and holding individual securities for them), we also offer clients the option of a variety of FGP’s own pooled funds, covering various asset classes. These FGP funds can provide economical and efficient investment, and even clients with segregated portfolios may wish to consider some of them for extra diversification within specific areas of their portfolio.

 

For each asset category, we offer a specific series of FGP pooled funds designed for tax-exempt accounts (such as RRSPs, RRIFs, and pension funds), and an additional series designed for taxable accounts and foundations. 

 

While these pooled funds are similar to public mutual funds, they are not prospectused and are therefore considered private offerings available to our clients only. As a result, provincial securities rules require that clients initiate any investment in these funds with a minimum initial dollar level that can vary from $97,000 to $150,000. This will depend on the jurisdiction in which the investor is resident, noting that some provinces may offer exemptions for certain qualified, accredited investors.

 

 

FGP does not act as custodian of client assets, and clients choosing to have their portfolios managed on a segregated basis are asked to select a custodian for their portfolios. Various financial institutions such as trust companies offer custody services. We have negotiated a competitive fee structure with a number of them for the safekeeping of clients’ securities.

 

Clients electing to have assets managed solely on a pooled fund basis may note that the trustee and custodian for our pooled funds is CIBC/Mellon, one of Canada's largest custodians.  CIBC/Mellon is responsible for the safekeeping of the fund monies and securities and the fund valuation and record keeping. This means that they hold the securities in trust for fund participants and administer the investment activity, settling security trades and collecting fund receipts. CIBC/Mellon values the securities in the funds on behalf of the fund participants. They also provide our clients with RRSP/RRIF trustee services.

 

FGP deals with a variety of different brokerage firms in Canada, the U.S. and abroad. Commissions charged by those brokers for execution of client trades are a cost to the portfolio, and are generally applied at low institutional rates.

 

 

As investment counsel and portfolio manager, FGP derives its income solely from our investment management fees, which are based on a percentage of the asset value of our clients’ portfolios as valued at the end of each quarter. We do not act as brokers dealers or underwriters and do not derive any income from broker trading commissions. Our management fee schedules for both segregated and pooled fund accounts are available upon request.