Penson Financial Services Canada, an affiliate of Penson Worldwide and a clearing firm, has announced that it will act as custodian for Nicola Wealth Management’s family of proprietary pooled funds which are designed to serve the needs of its private-client customer base.
Jamie Duncan, COO for Nicola Wealth Management, said: Penson’s industry knowledge, technical expertise and entrepreneurial mindset promise to help us deliver the high-level service our clients require. In Penson, we have found a service provider that shares our exacting levels of professionalism and integrity, with a strong focus on service and technology.
John Skain, president of Penson Financial Services Canada, said: Clearing, settlement and custody are back office functions that are mostly transparent to the end customer but a vital and fundamental step in the process. What differentiates Penson is that instead of offering a one-size-fits-all package, Penson uses its flexibility to provide customised packages of services to allow clients to conduct their business according to their specific needs and business model, precisely the way in which Nicola approaches its business.
Penson Financial Services Canada is a provider of securities services outsourcing, offering flexible, customised solutions to all types of financial institutions globally. It is Canada’s largest independent provider of correspondent clearing services. The company’s services include trade execution, clearing, settlement, custody, bookkeeping and administration, as well as foreign exchange, securities lending, fixed income and direct market access services.
Nicola Wealth Managemen t is into investment strategy and diversification, business consultation, insurance, retirement planning and other facets of financial management.
