As ModernAdvisor is not licensed as a broker-dealer, we need a firm licensed to clear trades for our clients and we also need an independent firm to safely hold our clients’ investment accounts.
ModernAdvisor uses both CI Investment Services Inc. and Aviso Financial as our custodians.
Accounts that start with a 1 are with CI Investment Services.
Accounts that start with a 5 are with Aviso Financial.
CI Investment Services Inc. is a leading Canadian Broker Dealer. Formerly BBS Securities Inc, they are a wholly owned subsidiary of CI Financial Corp. and are registered in all provinces and territories. They are a member of the Canadian Investor Protection Fund (CIPF), and the Investment Industry Regulatory Organization of Canada (IIROC), and registered as an Investment Dealer with all Provincial Securities Commissions
Aviso has more than 25 years of experience as a national financial services firm. Aviso Financial accounts are protected by the Canadian Investor Protection Fund (CIPF), regulated by the Investment Industry Regulatory Organization of Canada (IIROC, and registered as an Investment Dealer with all Provincial Securities Commissions.
If you are an existing client and wondering where your account is held, please see more details in 'How Do I Know If My Account is Held With Credential or CI Investment Services'
TSX Trust Company
Effective May 1, 2026, CI Investment Services Inc. will transition the trustee for registered accounts from Canadian Western Trust Company to TSX Trust Company.
The trustee is the legal administrator of registered accounts in Canada and mandatory for all registered accounts. They are responsible for ensuring the plan exists, follows government rules, and that required reporting is completed.
This is an administrative change to the organization responsible for administering registered plans. There is no impact to investments, account holdings, portfolio management services, or the relationship with the portfolio manager. There may be additional forms that are required by TSX Trust Company that are different than before.
CI Investment Services will continue to act as the dealer and custodian for the accounts. TSX Trust Company will assume the trustee responsibilities previously provided by Canadian Western Trust.
Updated account documentation will reflect this change, and any future registered account applications will use the updated forms.