Technology

How Your Money Is Kept Safe and Protected

By Nest Wealth on 07/09/2018Article 2 Minute Read

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When you’re looking to invest for your future, beyond management fees, there are a number of important things investors keep top of mind. Like ensuring their assets are protected. And due to their relatively new emergence in the wealth management space, there are a lot of common misconceptions about robo-advisors. Like the myth of protection.

At Nest Wealth, we understand the importance of keeping your money safe and protected.  Here’s how your investments are safely managed and safeguarded when you invest with us.

Your Money Is Protected

We are subject to the same strict regulations as any other company in the Canadian financial services industry. And unlike some traditional investment advisors, our portfolio managers have a legal responsibility to put your best interests first.

The Canadian Investor Protection Fund (CIPF)

The Canadian Investor Protection Fund (CIPF) is an organization established by the Canadian investment industry. CIPF can protect eligible clients of member firms from losses arising out of the insolvency of the CIPF member firm that holds the investor’s assets.

Our custodian is a member of Investment Industry Regulatory Organization of Canada (IIROC) and the CIPF. Since your money is held separately in an account in your name at our bank-owned custodian, your assets are protected by the CIPF in the event of insolvency by the custodian for up to $1,000,000 of coverage.

What is a custodian? A custodian is an institution that holds customer securities for safekeeping. We use our custodian to hold your portfolio assets and to make trades.

We Use Bank-Level Encryption

Our bank-level security measures are used to ensure your data is collected and stored safely. We encrypt all communication between your browser and our servers, store all of your data on secure servers, and continuously test our processes and procedures to make sure your data is managed in a safe way.

We Take Safety Seriously

Lastly, our account access security practices are updated to ensure we have a more advanced way to detect suspicious sign-in attempts. Our 2-factor authentication process adds an additional layer of security to our clients’ accounts at the time of sign-in to validate their identities.

To learn more about Nest Wealth’s 2-factor authentication standards and how it works, feel free to read the full blog post

You can learn more about CIPF protection by visiting www.cipf.ca for more details.