Who is Richardson GMP Ltd.?
With its roots in family business, the Richardson name is known globally for its diverse holdings, which span agriculture and food processing, energy exploration, property management and financial services. One of the most trusted and respected names in Canadian financial services; the Richardsons' proven history in wealth management includes Richardson Financial Group and Richardson Capital, as well as its past holdings in Richardson Partners Financial, Richardson Greenshields and Richardson Securities of Canada.
GMP Private Client’s strong reputation for superior service and wealth management expertise has complemented GMP Capital Inc.'s proven leadership in the Canadian capital markets. The GMP name reinforces a culture of innovation, energy and entrepreneurship at Richardson GMP. The advantages of the alignment with GMP Capital Inc. include access to the capabilities and ideas of GMP Securities L.P., EdgeStone Capital Partners, L.P. and GMP Investment Management L.P.
The result of the combination is a larger, stronger and more influential independent wealth management firm with offices nationwide. Richardson GMP builds on the breadth and depth of these roots and branches out further with access to industry-leading Investment Advisors, exclusive wealth management solutions and a technology platform that tailors reporting to the unique needs of our clients. The energy created through this convergence of tradition and innovation is what draws many of Canada’s most successful families and entrepreneurs to Richardson GMP.
Is my money safe at Richardson GMP?
Yes. Richardson GMP is a member of the Canadian Investor Protection Fund (CIPF), the same organization that currently protects your investments. CIPF covers your general accounts (cash, margin, options, etc.) up to $1 million, plus your separate accounts (registered, formal trusts, etc.) of up to $1 million.
The fund was established in 1969 to protect investors in the unlikely event of insolvency of an investment dealer. In addition to the general CIPF coverage, Richardson GMP has purchased from underwriters at Lloyd's of London additional securities protection up to an aggregate of $30 million, subject to a maximum limit of $1 million per customer general or separate account (as defined by CIPF). This coverage does not protect accounts from losses that result from fluctuations in the market value of investments. As such, each general and separate account is covered to a maximum limit of $2 million.
I am a conservative investor interested in capital preservation. What about GMP's small & mid-sized company focus?
Our affiliate, GMP specializes in small and mid-sized companies and is Canada's leading investment dealer for these companies. We view this as one of our benefits to clients. Most portfolios require at least a small growth component and these companies usually provide the most opportunity for growth. It is important that you understand Richardson GMP offers a complete range of securities including government and corporate bonds, equities, preferred shares, options, income trusts, which can be used to construct a portfolio designed to suit your objectives. GMP has research coverage on over 200 companies in Canada. In addition to this coverage, we have partnered with Credit Suisse First Boston to complete our Canadian coverage and provide coverage to over 2,300 international companies in addition to global economic and strategic investment opinion. You can rest assured our access to investment ideas is as comprehensive as any of our competitors.
Will my investment fees change?
For new clients, the way your fees are charged may change, however our client rates at Richardson GMP are very competitive.Are there the same investment choices at Richardson GMP?
Yes. Richardson GMP is a full-service investment firm that offers a complete range of investment products. This includes stocks, bonds, mutual funds, income trusts, preferred shares, options, etc. You have access to many different account types including transaction accounts, fee-based accounts, separately managed accounts, registered accounts (incl. RESPs), advisor managed accounts - the full complement. In fact, we have endeavored to improve upon the products traditionally offered at most full-service firms with our client service philosophy and new technology.
Am I able to move money to and from my bank account?
Yes. You are able to move money to and from your bank account. The only thing that is required is the setup.
Will my performance carry over to Richardson GMP?
No. In order to maintain the integrity of rate of return calculations, your performance will begin anew when you join Richardson GMP (this does not apply if you are already a client of a predecessor firm).
How can your Advisor better serve your investment needs at Richardson GMP?
Richardson GMP offers many advantages to other investment firms. The portfolio management tools offered here are at the forefront of innovation in our industry. The major advantages are: the portfolio system, trading expertise, portfolio modeling, account opening, investment policy statement creation, remote access, client relationship management tools, and market data systems. Richardson GMP also offers access to many new products and investment ideas. Our affiliate, GMP Securities has one of the most successful corporate finance and research departments in Canada. In addition, Richardson GMP has created partnerships with firm such as Credit Suisse First Boston for economic, strategic and company-specific.
How much money do I need to have to deal with The Starratt Team at Richardson GMP?
While there is no specific dollar amount; our focus is on capital preservation, income generation and capital growth for affluent Canadians. The Starratt Team would be happy to meet with you to discuss your particular circumstances.
Do I have to be involved in the decision making?
Unless you have decided on our Signature Series Portfolio Managed Account, all recommended investments and portfolio changes will be your decision.