Not necessarily. If we previously bought a stock for an existing client, we would not necessarily buy it today for a new client, unless it is still trading at a significantly discounted value.
All investment decisions are carefully reviewed by Claret’s Portfolio Managers, which are all CFA charterholders.
Yes. Every client has the opportunity to discuss their financial situation directly with a Portfolio Manager.
When we transfer an account from another firm, we have the option to transfer everything as is or in cash. As each situation is unique, a strategy is determined between the Portfolio Manager and his client in order to decide what is the most beneficial manner to proceed.
Of course. Every client can access their accounts online, on the custodian’s (bank) online portal. As well, every client receives a monthly statement directly from the custodian and a detailed quarterly statement from Claret.
For most Canadian clients, the fees are currently included in Claret’s annual management fee.
If the cash is available in the investment account, the funds can generally be transferred within one business day. However, if we need to sell certain investments to generate the necessary cash, the transfer will take at least 3 business days.
Claret is 100% independent and is jointly owned by 3 associates who are also active in the company, as Portfolio Managers: Mr. William K. Kovalchuk, Mr. Alain Chung and Mr. Jean-Paul Giacometti. All 3 associates are CFA charterholders.
For every new client, we will take the time necessary to invest or rebalance the portfolio. We do not create opportunities, we only attempt to identify them.
Yes. Since every client account is held in a large Canadian financial institution, which acts as an independent third party custodian, every client benefits from CIPF protection.
Discretionary portfolio management means that the Portfolio Manager (PM) doesn’t need the client’s consent before trading on their behalf. The PM manages every account as per what was defined in the investment policy statement by the client with the guidance of his Portfolio Manager.
At Claret, we take care of gathering all the tax documents received from the custodian and send our clients a complete package in one mailing. If requested, we can send these documents directly to the client’s accountant. Claret also has statements that are developed specifically for accountants.
Client securities are held directly with a large Canadian financial institution, which acts as an independent 3rd party custodian.
Depending on the client’s circumstances and objectives, a PM could accept client portfolios with a value less than $500,000.
Claret does not earn fees from trading (commissions), instead, we charge a fixed management fee which represents a percentage of the value of each account. This way, there is no possible confusion as to how much you pay and we earn. As a client, you are generally looking for your portfolio to grow in value. As your portfolio increases in size, our remuneration increases accordingly. Therefore, our interests are aligned.