Protecting our clients’ privacy is a priority.
Protecting our clients’ privacy is a priority for Nicola Wealth Management Ltd. (“Nicola Wealth” or “we/us”). These privacy principles are adhered to by Nicola Wealth to ensure that the information submitted to us will be treated with the utmost confidentiality and in adherence with the Personal Information Protection and Electronic Documents Act of Canada (PIPEDA). Our privacy policies are evidenced in the following ten privacy principles.
We are responsible for all personal information that we collect or that is under our control. Our employees, agents and suppliers are also required to keep our clients’ information safe and confidential. We have appointed a Privacy Officer who is accountable for our compliance with these privacy principles. The contact details of the Privacy Officer can be found at the end of this document.
- Identifying Purposes
We are required to collect certain pieces of personal information by the regulatory bodies that oversee us and in order to comply with applicable laws. Additionally, we may also collect personal information such as name, address, date of birth, identification, Social Insurance Number, citizenship, country of residence, banking information, occupation, marital status, dependents, income, net worth, and health status. We may use this personal information to satisfy identification requirements, to serve our client’s financial needs which includes establishing their accounts and providing suitable advice, to meet regulatory requirements set out by securities regulators who have authority of the conduct of our business and to comply with foreign account tax compliance obligations.
- Limiting Collection
Only such information as is necessary for Nicola Wealth’s services will be collected from our clients. When personal information is needed, it will be obtained directly from our clients. If necessary and only with client consent, reputable and reliable sources will be used to supplement this information.
- Limiting Use, Disclosure And Retention
Personal information will not be used or disclosed for purposes other than those for which it was collected, except with the consent of the individual or as required or permitted by law. We will not disclose to any third party any of our clients’ confidential information which comes into our possession, except as required in connection with establishing an account and providing suitable advice, or as required by a securities regulator, taxing authority, any governmental body or any court having jurisdiction over us or by applicable law. In addition, we may disclose a client’s information to:
- another Nicola Wealth client (agreed upon between the client, the advisor and the clients’ related parties) to receive aggregated reporting for a group of accounts that are associated by family relationships
- any employee, agent or representative of Nicola Wealth,
- the Custodian of our client Accounts and/or any third party that provides fund accounting, record keeping or other client-related administrative services for the benefit of managing clients’ Accounts, or
- such other third party as clients may agree to in writing (e.g. a client’s accountant or lawyer).
Personal information will be retained only as long as necessary for fulfillment of those purposes and to comply with record retention policies of our regulators such as the provincial securities commissions, FINTRAC and the provincial insurance councils. We may also retain client information for a reasonable amount of time to protect us in case of legal action where we would need our records intact to investigate any claims. We also utilize cloud storage and certain custodial services based in the U.S and therefore, client information may be transferred cross border.
We will keep client personal information as accurate, complete and up-to-date as necessary for the purposes for which it is to be used. A Nicola Wealth Advisor may need to contact a client periodically to verify that the information we have on file is current. To assist in this process, clients are asked to contact their Nicola Wealth Advisor if their personal information changes or to ensure that the information we have on file is correct.
We will protect personal information with security safeguards appropriate to the sensitivity of our clients’ personal information. We maintain records and retain personal information in electronic or paper format and protect this information using industry standard security safeguards.
Nicola Wealth will make available to clients specific information concerning the policies and procedures relating to the management of their personal information.
- Individual Access
Upon request, clients will be informed of the existence, use and disclosure of their personal information and shall be given access to that information. Clients may verify the accuracy and completeness of the information and may request that it be amended, if appropriate.
- Handling Client Inquiries, Complaints And Suggestions
5th Floor – 1508 West Broadway
Vancouver, BC V6J 1W8
Attn: Privacy Officer