Protection of your assets

Protection of your assets

Looking out for your interests

Protection covering PEAK Private Wealth accounts

What type of protection applies to accounts managed by PEAK Private Wealth, a division of PEAK Securities?

PEAK Securities, which includes the PEAK Private Wealth division, is a member of the Canadian Investor Protection Fund (CIPF). This fund protects clients who have suffered or may suffer financial loss resulting solely from the insolvency of one of its members. The maximum amount of this protection is one million dollars for registered accounts and one million dollars for non-registered accounts (including the securities and deposits held in these accounts). For more details, visit www.cipf.ca.

Who acts as the Trustee for PEAK registered accounts?

TD Canada Trust acts as the Trustee for all our registered accounts. The cash amounts held in these accounts are protected by the Canada Deposit Insurance Corporation (CDIC). All amounts entrusted to us on behalf of clients are deposited with our Trustee in order to settle transactions.

What protection applies to the insurance of persons and financial planning sectors?

The Autorité des marchés financiers (AMF) has jurisdiction over the insurance of persons and financial planning sectors. They are covered by the Fonds d’indemnisation des services financiers (FISI). This fund protects clients for up to $200,000 in cases of fraud committed by an Advisor or a firm registered for these sectors and the distribution of financial products.

Do PEAK and its Advisors have professional liability insurance?

PEAK Securities, which includes the PEAK Private Wealth Division, carries insurance to protect clients against the loss of security certificates and internal computer fraud.

In addition, all Advisors certified in financial planning and insurance with the Autorité des marchés financiers (AMF) have liability insurance covering professional errors and omissions. Such insurance is required to maintain a licence with the AMF.

Where are non-registered accounts held (cash accounts)?

These securities are held in segregation by PEAK Securities. This means that they are kept separately and cannot be used by PEAK. The Investment Industry Regulatory Organization of Canada (IIROC) carries out regular audits to ensure that the segregation of securities has been done according to the rules.

Is PEAK audited by regulatory bodies?

PEAK Securities is audited by the Investment Industry Regulatory Organization of Canada (IIROC), its main regulatory body.

Is PEAK Financial Group audited by external auditors?

All PEAK Financial Group entities, including PEAK Securities, are audited annually by our external auditor, PricewaterhouseCoopers (PwC) LLP.

How are investments monitored?

All client transactions and Advisor transfers are processed through our Operations Department via transactional platforms for ease of traceability.

How can I monitor my accounts?

Your monthly account statements, all your transactions and all your investments can be viewed on our electronic portal, MyPEAKonline.

Which regulatory body do PEAK Advisors have to register with?

Every PEAK Private Wealth Portfolio Manager and PEAK Securities Advisor is registered with the Investment Industry Regulatory Organization of Canada (IIROC).

What is the role of the PEAK Financial Group Compliance Department?

The PEAK Compliance Department conducts a detailed examination of the records of each Advisor seeking to work with PEAK. Very detailed examination criteria are applied to check an Advisor’s professional history.

Our Compliance Department ensures that all laws and regulations governing securities, as well as our rigorous internal policies and procedures, are observed. Our risk management program includes internal audits, which allow us to monitor Advisors’ business practices.

What do you mean by independence at PEAK?

PEAK Financial Group’s entities are not owned by any financial institution.

PEAK focuses on distribution and does not hold or market any in-house products, nor does it impose any sales quotas on its Advisors.

PEAK provides full access to all available financial products that have been approved for sale in Canada. This means Advisors can recommend financial products that truly suit the needs of their clients.