Duty of Care
At True North Retirement Counsel we are committed to doing what’s in our clients best interest. To that end we take the “duty of care” very seriously. Under Canadian common law financial advisor have a “duty of care” that requires us to: act fairly, honestly and in good faith. To that end we are guided by these principles.
While this is not the same as a “fiduciary duty” we try to embody the 5 core principles of a Fiduciary in all our dealings with clients. The 5 core principles of a fiduciary are:
- Put the clients best interests first
- Act with prudence – that is with the skill, care, diligence and good judgement of a professional
- Do not mislead clients – provide conspicuous, full and fair disclosure of all important facts
- Avoid Conflicts of Interest, and
- Fully disclose and fairly manage, in the clients favour, unavoidable conflicts