Cidel Asset Management Inc (Toronto, Ontario)

Name: Cidel Asset Management Inc
Address: 60 Bloor Street West, Toronto, Ontario, M4 W 3 B8
Telephone: 416 977 6767

Cidel Asset Management Inc is a large advisory firm based in Toronto, Ontario. It manages $3.27 billion of regulatory assets for 993 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California and Florida.

Cidel Asset Management provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and see schedule d - miscellaneous. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cidel Asset Management: assets under management

The assets under management (AUM) of Cidel Asset Management Inc is $3.27 billion. The firm's AUM has gone down by -20% since the beginning of its operation, and $3.24 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $3.09 billion in discretionary accounts and $178.08 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.29 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.42 million.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 15% of the firm’s portfolio. Investments in cash and cash equivalents form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Cidel Asset Management Inc for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Cidel Asset Management serves?

The firm provides services to individuals, insurance companies, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and sovereign wealth funds and foreign official institutions. The largest group of clients of Cidel Asset Management is sovereign wealth funds and foreign official institutions with 1 clients and $1.42 billion of assets under management. Among the 12 most similar advisory firms, Cidel Asset Management has the highest percentage of sovereign wealth funds and foreign official institutions out of all clients.

The amount of regulatory assets under management is $3.26 billion for 982 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 100% of the firm’s clients are foreign persons or businesses.

Cidel Asset Management doesn't advise any private funds.

Careers at Cidel Asset Management Inc

The company employs 63 people that are either part- or full-time employees. 60 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 16 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Paul (Nmn) Mcleod	Chief financial officer	1 Nov 2007	Other	6932895
James Porter	Executive committee member	1 Jan 2012	Other	6385724
Charles Lannon	Investment committee member	1 Jan 2012	Other	6385726
Arthur M Heinmaa	Investment committee member/cio/cco/executive committee	1 Jan 2012	Other	6385994
Tiziana R Mazzilli	Senior vice president	1 Jan 2012	Other	6385996
Robert W Gibson	Investment committee member/portofolio manager/head of canadian equities mandates	1 Jun 2013	Other	6385721
Ronald Patton	Investment committee member/head of canadian investment mandates	1 Jun 2013	Other	6385728
Susan M Blanchard	Investment committee member/senior portfolio manager	1 Jun 2013	Other	6387208
Cidel Bank Canada	Owner	1 Dec 2016	75% - 100%	foreign entity
Bradley (Nmn) Gibbert	Chief compliance officer	1 Mar 2017	Other	6772613

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Cidel Bank & Trust Inc.	Owner	1 Dec 2016	75% - 100%	foreign entity

Based in Toronto, Ontario

The principal office where Cidel Asset Management Inc performs its advisory services is located at 60 Bloor Street West, Toronto, Ontario, M4 W 3 B8, which is also the mailing address of the firm. The firm also has an office outside of the United States.

You can reach the main office by calling the phone number 416 977 6767 or by fax 416 977 7650. The normal business hours are 9:00 - 6:00 p.m. on Monday - Friday. You can find more information about the New York firm at cidel.com.