episode: 42

Custodian Services & Independent Portfolio Management Firms

October 27, 2021

listen now

About This Episode

Custodians provide confidence and a secure network in the world of portfolio management.

While a portfolio management (PM) firm is responsible for managing money, portfolios, and other wealth management services, they don’t hold money or client accounts at the firm. That’s where a third-party independent custodian comes in.

Today we’re getting the inside scoop from Matthew Pollock on the role of custodians in the financial services world. Matthew is Regional Vice President at National Bank Independent Network; one of two custodians that TMA works with to custody client assets.

In this episode, Matthew and Keith talk about why third party custodians are crucial partners for PM firms, how discount brokerages can afford to offer no trading fees, the latest trends Matthew has identified from his work with PM firms across the country, succession planning in PM firms, and so much more!

Key Topics:

Why custodians are important for PM firms (1:33)
Introducing Matthew Pollock (2:53)
What is a custodian? (5:17)
What it means to be an independent firm (5:43)
Why we chose to be an independent PM firm (6:47)
Different service offerings of portfolio managers (7:50)
Advantages of the US Registered Investment Advisor model (9:11)
Huge opportunities for independent firms to expand their services (11:30)
Why discount brokerage platforms can charge zero trading fees (14:40)
What makes the professional money manager model different (16:28)
Benefits of working with a custodian (18:19)
How custodial relationships protect investors from bad actors (19:58)
Why it’s difficult to get a portfolio manager license (22:26)
Using technology to provide a better client experience (24:41)
Emerging trends in client communication (25:53)
Why we think the move to virtual is here to stay (27:08)
Succession planning for portfolio management firms (29:16)
TMA’s Next Gen Advisor strategy (30:19)
Why experienced investment advisors are leaving large firms (31:02)
Why Matt enjoys working with independent PM firms (33:20)
And much more!

Meet your hosts

Keith Matthews

Partner & Portfolio Manager

Ruben Antoine

Portfolio Manager

Marcelo Taboada

Associate Portfolio Manager

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112

Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more!

Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Related Episodes

Navigating mortgages and high interest rates with specialist Morgan Englebretsen

May 3, 2023

Whether you’re a first-time home buyer or a seasoned real estate investor, understanding the intricacies of mortgages is a game-changer in your financial journey. With many potential pitfalls, confusing jargon, and seemingly endless options, proper guidance throughout the mortgage process is invaluable.

Debunking 8 common tax myths and misunderstandings (part 1)

Apr 20, 2023

Countering bad advice, especially during tax season, is crucial. So we reached out to expert and tax specialist Réginald Pierre-Louis to bust several tax myths and give you the facts to help ensure that you file accurate returns. His expertise can help ensure that you receive money the government owes you and avoid penalties for underreporting.

2022 Tax Tips – With Life Long Expert

Mar 29, 2023

Every year more complexity is added to the Canadian tax system, making it difficult for taxpayers to keep up to date. Understanding how to properly file your tax return and take advantage of deductions and credits can put more money back in your pocket.