At CFG, selecting the appropriate account type is a critical part of the overall wealth management process. As a discretionary Portfolio Manager, we take full responsibility for the ongoing management of client portfolios, and we work in close collaboration with clients and their financial advisors, accountants, and legal professionals to ensure that each account structure is aligned with the client’s unique investment objectives, tax planning considerations, cash flow needs, and overall financial strategy.

Account type selection is not a one-time decision but an evolving component of our ongoing relationship. During onboarding, we assess key factors such as income level, age, retirement goals, home ownership status, corporate interests, and family planning needs. Based on this information, we determine whether registered accounts (e.g., RRSPs, TFSAs, RESPs), non-registered accounts (e.g., CAD/USD cash or margin accounts), or specialized structures (e.g., corporate or trust accounts) are most appropriate.

Where applicable, we also account for regulatory considerations and provincial pension rules when dealing with locked-in accounts such as LIRAs, LRSPs, and subsequent conversions to LIFs or RIFs. In the case of option strategies or time-sensitive withdrawals, a margin account may be opened solely to facilitate liquidity or support trade execution requirements — but CFG does not engage in leveraged trading as a general practice.

As client needs change — whether through a career transition, business sale, inheritance, retirement, or change in marital or family status — additional account types may be opened or existing ones repurposed. This dynamic approach ensures that each client’s portfolio structure remains optimal over time from both a performance and tax-efficiency standpoint. Our custodial platform through NBIN supports this flexibility, allowing seamless integration of new account types as part of the client’s consolidated reporting and discretionary investment mandate.