Invest with Confidence
SAFETY OF CLIENT ASSETS
At Foster & Associates, we understand how important it is for you to feel confident about the safety of your investments. Below, we’ve answered some of the most common questions to help you feel assured when working with us.
What type of firm is Foster & Associates?
Foster & Associates is a privately owned, independent investment dealer regulated by the Canadian Investment Regulatory Organization (CIRO).
What is CIRO?
CIRO oversees investment dealers and trading on debt and equity markets in Canada. It’s mission is to protect investors, set high industry standards, and strengthen market integrity while fostering competitive markets. As a member, Foster & Associates meets CIRO’s rigorous standards for proficiency, financial conduct, and business practices.
Are all investment firms regulated by CIRO?
No. While there are over 2,000 registered investment firms in Ontario, fewer than 200 are regulated by CIRO. This sets Foster & Associates apart as a firm that adheres to high regulatory standards.
Does CIRO have different classes of Dealer Members?
No. All Dealer Members are held to the same high standards. However, firms may choose to partner with other CIRO members for back-office, settlement, and clearing services through what’s called an Introducing/Carrying Broker Arrangement.
Does Foster & Associates have an Introducing/Carrying Broker Arrangement?
Yes. Foster & Associates has partnered with National Bank Independent Network (NBIN) as our custodian.
Who is NBIN, and why did Foster & Associates choose them?
NBIN is a division of National Bank Financial Inc., a subsidiary of National Bank of Canada. Foster & Associates chose NBIN for their unmatched stability, expertise, and strong financial backing from one of Canada’s largest banks.
Where are client assets held?
All client assets are held securely with NBIN, ensuring they always remain protected.
What happens to my assets if Foster & Associates goes out of business?
In the unlikely event that Foster & Associates becomes insolvent, your assets remain secure with NBIN, as they are held separate from the firm’s assets.
What happens if NBIN goes out of business?
If NBIN or its parent company, National Bank Financial Inc., were to become insolvent, your assets would be protected by the Canadian Investor Protection Fund (CIPF), subject to defined limits.
What is CIPF, and how does it protect me?
The Canadian Investor Protection Fund (CIPF) ensures the return of eligible clients’ securities, cash, and certain other property within defined limits in the unlikely event that a member firm becomes bankrupt.
How do I get CIPF coverage, and does it cost anything?
CIPF coverage is automatic when you open an account with Foster & Associates, a CIPF member. There are no additional costs for this protection.
Are Foster & Associates and NBIN members of CIPF?
Yes, both Foster & Associates and NBIN are CIPF members, giving you added peace of mind.
How much coverage does CIPF provide?
We’d be happy to provide you with a detailed CIPF brochure or direct you to their website at www.cipf.ca for further details.
Who audits Foster & Associates?
As a CIRO member, Foster & Associates submits monthly financial reports to CIRO and undergoes an annual audit by a CIRO-approved auditor. These audits ensure we consistently meet the highest standards of compliance and financial integrity.