Goodreid works with four custodians for the majority of their clients. Scotia iTrade, National Bank Independent Network (NBIN), Fidelity Clearing Canada, and Interactive Brokers Canada provide the fiduciary services that allow assets to be housed in a secure and transparent environment. If a client has an existing arrangement with another custodian, Goodreid is happy to accommodate and work with them.
At no time will Goodreid take possession of cash or securities. Goodreid simply acts as a provider of investment management services to clients. This includes the ability to make changes in client accounts on a discretionary basis (ie. without consultation with clients on a trade by trade basis). This authority is provided by an Investment Management Agreement Form (MAF) signed by each client at the time the accounts are opened and the licencing to act as a discretionary manager provided by Provincial Regulators. The MAF outlines the duties and responsibilities of Goodreid and the obligations and authorizations of the client.