Counsel wealth man-agement is taking aim at high net-worth investors with the recent launch of two new managed portfolios — just in time for last-minute RRSP contributions. The portfolios, Counsel World Managed Portfolio and Counsel Income Managed Portfolio, were designed to complement the Mississauga, Ont.-based firm’s existing six portfolios, which were launched between two and five years ago.
“We work very closely with a targeted group of advisors to find out what products we should make available, and one of the things that was missing was a set of managed portfolios,” says Counsel president Sam Febbraro. “What stood out was the need to focus on generating income and global investing, using a tactical approach.”
This tactical approach is founded on the idea of taking advantage of short- and intermediate-term market inefficiencies. For Counsel World Managed Portfolio, it means asset-allocation advisor Credit Suisse Asset Management LLC will allow the asset-class mix to shift throughout geographical regions, or even jump from small- to large-cap asset classes. The portfolio invests in Canadian, U.S. and international equities, as well as in global small-cap and fixed-income securities.
For Counsel Income Managed Portfolio, tactical management allows the asset-class mix to flow from fixed-income to equities or vice versa, depending on factors such as financial valuations and growth. This kind of fluidity stands in sharp contrast to Counsel’s existing strategic portfolios, which are regularly rebalanced to targeted weightings.
Febbraro is also mindful of keeping costs down. With management fees of 2.7% and 2.5% for World and Income, respectively, he hopes the firm’s efficient back office and reasonably priced advisory contracts will keep costs at bay.
“But the most important thing is the fact that we’re a core holding,” he adds. “We don’t develop a lot of products year-over-year. We’re very focused, and our account size is higher than the industry average. The number of transactions is smaller and, therefore, we generate a lot of operational efficiencies.”
Counsel has $2 billion in assets under administration. IE
New portfolios at Counsel Wealth
Two new managed portfolios to fill gaps in company’s offerings
- By: Lara Hertel
- February 20, 2007 October 30, 2019
- 12:06