Richardson GMP
APRIL 2017

What is a fiduciary?

This is a term that receives frequent attention in media discussions of the wealth management industry.
To Quote from the Prudent Investment Practices  - A Handbook for Investment Fiduciaries. In the context of investment management, fiduciary status is determined by facts and circumstances, but is generally defined as a person who:

  • Manages property for the benefit of another
  • Exercises discretionary authority or control over assets, and/or
  • Acts in a professional capacity of trust, and renders comprehensive and continuous investment advice.

Fiduciaries have the most important, yet most often misunderstood role in the investment process: to manage the Investment Practices, upon which all the other components of the investment plan rest. These Practices allow us to define, implement, and evaluate the investment plan.1
Neil, Tyler, and Dwight are happy to answer any questions you may have on this topic, and the Investment Practices that allow for the successful management of investment decisions.

1. Prudent Investment Practices – A Handbook for Investment Fiduciaries, Foundation for Fiduciary Studies, 2003.

Being an executor

At the end of March, we hosted a lunch and learn on the topic of “Being an Executor”, with guest speak Robert Mendenhall of our Tax and Estate Department.
The event was well attended and the feedback very positive. We thought we’d share a couple of handouts from the presentation, along with our Estate Record Keeper.

As always, feel free to contact us if you have any questions.

Capital Group — Here’s why you shouldn’t give up on international stocks

Investors may be disappointed by lackluster results from international stocks, but there are important reasons to stay the course...
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Lorica — What we think…

With so much focus on the “Trump trade”, there is irony in the fact that the Fed is once again taking responsibility for moves in the bond market. It is no longer the assumption of benign monetary policy that has kept yields low and rallied risk assets, but rather that the credible message of tighter policy through higher rates and balance sheet-unwind that has raised yields.

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Dwight Jefferson, CIMA®
Senior Vice President
Portfolio Manager
Tel.: 604.640.0555 • Email

Tyler Steele, CFA
Senior Vice President
Portfolio Manager
Tel.: 604.640.0554 • Email

Neil Kumar, CIM®
Portfolio Manager
Tel.: 604.640.0406 • Email

Wendy Lloyd
Tel.: 604.640.0556 • Email

Jessica Dewey
Tel.: 604.640.0405 • Email

Brenda Geib, BA
Tel.: 604.640.0559 • Email

Richardson GMP Limited
500 – 550 Burrard Street
Vancouver, BC V6C 2B5

Toll Free: 1.866.640.0400
Fax: 604.640.0300


The opinions expressed in this report are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Richardson GMP Limited or its affiliates. Assumptions, opinions and estimates constitute the author's judgment as of the date of this material and are subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Past performance is not indicative of future results. The comments contained herein are general in nature and are not intended to be, nor should be construed to be, legal or tax advice to any particular individual. Accordingly, individuals should consult their own legal or tax advisors for advice with respect to the tax consequences to them, having regard to their own particular circumstances. Insurance services are offered through Richardson GMP Insurance Services Limited in BC, AB, SK, MB, NWT, ON, QC, NB, NS, PEI and NL. Additional administrative support and policy management are provided by PPI Partners. Richardson GMP Limited is a member of Canadian Investor Protection Fund. Richardson is a trade-mark of James Richardson & Sons Limited. GMP is a registered trade-mark of GMP Securities L.P. Both used under license by Richardson GMP Limited.