The Separately Managed Account (SMA)

What is an SMA?

SciVest provides its clients discretionary investment management services within each client’s own individual Separately Managed Account (“SMA”).  An SMA is your own individually managed investment account in which you wholly and directly own in your name each and every individual security. SciVest simply has trading authority over your SMA so that SciVest can execute trades within your account. SciVest has no authority to move money or securities into or out of your account – we can only execute trades on your behalf within your SMA.

Where is my account held?

Your investment account is set up at one of our approved broker/custodians – currently either Interactive Brokers Canada Inc. or Aviso Correspondent Partners (also known as Aviso Wealth). As broker they provide brokerage trade execution of your SMA security trades and as custodian they hold and protect all of your SMA investment portfolio assets. The broker/custodian also provides all tax reporting, as well as Canadian Investor Protection Fund (“CIPF”) insurance on your SMA. Our broker/custodians were chosen because of their large size, safety, service offering, and competitive pricing.

Fees & Expenses

SMA expenses fall into four (4) categories – In order of magnitude and importance, they are...