Frequently Asked Questions are often addressed in client meetings, or during prospect meetings. Our FAQ section is designed to provide maximum clarity about The Schmidt Investment Group, and the professionals we work alongside.
If you do not find an answer to your question below, please contact us with your question and we will get back to you with in 48 hours.
Frequently Asked Questions
- What is the connection between CIBC and The Schmidt Investment Group?
- What does it mean to be a Family Office and ultra-high net worth office?
- What are your team's qualifications?
- Are my assets safe with The Schmidt Investment Group?
- How many clients does The Schmidt Investment Group work with? Will I just be another number?
- How much do you charge for a second opinion on my current portfolio?
- I have one or more of the following accounts: RRSP, RRIF, TFSA, IPP, LIRA, LIF, Trust, Corporate, Personal, etc. Can The Schmidt Investment Group assist in managing any of them?
- How would The Schmidt Investment Group work with my tax advisor, lawyer, insurance agent or any of my other professional advisors?
- What type of reporting can I expect from The Schmidt Investment Group?
- How often does The Schmidt Investment Group communicate with clients?
- Where can I live so that The Schmidt Investment Group can be my Family Office?
- What does "transparency" mean at The Schmidt Investment Group?
- I'm selling my business. Is that something you can help with?
- What is your fee structure?
- What is your social mission?
- Has any member of The Schmidt Investment Group ever received any past sanctions or reprimands?
1. What is the connection between CIBC and The Schmidt Investment Group?
CIBC Wood Gundy is the wealth management division of the Canadian Imperial Bank of Commerce (CIBC). The Schmidt Investment Group is a family office advisory team operating within CIBC Wood Gundy. This relationship provides our clients the best of both worlds; the personalized experience of a family office firm while benefiting from the full backing and security of one of Canada’s largest and strongest banks—CIBC.
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2. What does it mean to be a Family Office and ultra-high net worth office?
At The Schmidt Investment Group, most of our clients have sought us out specifically for two reasons:
1. A superior approach to portfolio construction and performance.
2. A comprehensive suite of service offerings well beyond industry norms.
To act as a true Family Office means that our team knows about each of our clients wealth affairs, and tax, legal, insurance, investment management, banking, and philanthropic needs, while being able to assist our clients in implementing and managing the most effective strategies to coordinate the aspects of wealth mentioned above. The most effective strategies derive from working with our professional partners ensuring that wills, estate planning and tax strategies despite the demise of a clients’ family member are in order. The Schmidt Investment Group Family Office is the first call for nearly anything in life that helps our clients’ families live life easier. Our team continually search for ways to proactively help our clients simplify their wealth.
3. What are your team's qualifications?
Our team is comprised of 20 professionals with over 250 years of combined industry experience as well as over 45 degrees and industry designations and licenses. At The Schmidt Investment Group we have an ongoing and personalized educational program for each team member. This ensures we are able to provide the most current and up to date advice for our clients in a vast array of topics affecting portfolios.
Required members of the team are individually licensed through the Investment Industry Regulatory Organization of Canada (IIROC). Three team members hold the Certified Investment Management Analyst designation (CIMA) which is regulated by the Investment Management Consultants Association (IMCA). Five team members hold the Certified Financial Planners (CFP) designation regulated by the Financial Planners Standards Council (FPSC). Eight members are licensed by the Alberta Insurance Council (AIC). Four members are International Trust and Estate Practitioners (TEP). All of these organizations have a strict code of ethics policy and regular attestation of adherence is required.
For additional qualifications and biographies of each team member visit Our Team.
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4. Are my assets safe with The Schmidt Investment Group?
As a member of the Canadian Investor Protection Fund (CIPF), the highest level of protection in the Canadian industry, your assets are insured against fraud, mismanagement or insolvency of The Schmidt Investment Group and/or CIBC Wood Gundy. As part of a division of the Canadian Imperial Bank of Commerce (CIBC) we are subject to all regulatory oversight and risk management policies and procedures of CIBC.
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5. How many clients does The Schmidt Investment Group work with? Will I just be another number?
Many advisors in our industry serve several hundred or thousands of clients with only a handful of team members. At The Schmidt Investment Group we selectively work with approximately 165 households.
Our team has one of the highest professional to client ratios in the investment management industry in Canada, providing personal advice and service to each client.
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6. How much do you charge for a second opinion on my current portfolio?
We do not charge a fee to provide a second opinion on your current portfolio. Our Advisory Group conducts a thorough and unbiased review of your portfolio and provide a comprehensive analysis that integrates all key areas of your wealth plan. These areas include any or all of the following: investment management, retirement planning, tax planning, insurance planning, estate planning, philanthropic planning and corporate/business asset management. This process provides you with an independent perspective and will allow you to evaluate your portfolio in an objective manner.
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7. I have one or more of the following accounts: RRSP, RRIF, TFSA, IPP, LIRA, LIF, Trust, Corporate, Personal, etc. Can The Schmidt Investment Group assist in managing any of them?
Yes. As a full service and comprehensive wealth management organization we are able to assist clients with nearly any type of account, holding an unlimited list of possible financial assets.
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8. How would The Schmidt Investment Group work with my tax advisor, lawyer, insurance agent or any of my other professional advisors?
At The Schmidt Investment Group we view holistic planning as the cornerstone to all that we do. It is a fundamental aspect of our philosophy and therefore, it is common practice for us to coordinate and communicate with our clients’ external professional advisors upon client consent. We always take extra caution to ensure that any strategies and solutions that we recommend are in alignment with the other professional advisors’ strategies before implementation.
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9. What type of reporting can I expect from The Schmidt Investment Group?
Comprehensive, customized and in-depth reporting is prepared on a monthly, quarterly and annual basis and is available based on client preferences. All clients have the option to select any or all of the following:
- Daily access to accounts via Wood Gundy Online, providing up to date transactions and market values based on the previous day’s close
- Monthly account statements showing security holdings, values and daily transactions
- Annual customized and comprehensive consolidated performance summary which includes total overall performance, list of accounts and managers, portfolio market value, net cash flow and profit
- Annual tax reporting package suitable for every client
We are always upfront and transparent in our reporting. Reporting is completed in accordance with the Global Investment Performance Standards (GIPS) and IIROC's mandate.
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10. How often does The Schmidt Investment Group communicate with clients?
We recommend that our clients meet with us, in person or by telephone, at least annually for a comprehensive review of their portfolio and Investment Policy document. However, in the instance of any significant financial life event, we ask that clients inform us in a timely manner so that we can assist and advise as needed.
We always respond promptly and professionally to any incoming inquiries and proactively contact our clients with any relevant information that may impact their portfolio including any material market or economic changes.
We also host regular portfolio and wealth management related seminars on topics that are relevant and of interest to our clients. Additional reviews are offered for clients that wish to hear economic and market updates on a regular basis. Our monthly newsletter and other articles of interest are delivered electronically and/or by mail.
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11. Where can I live so that The Schmidt Investment Group can be my Family Office?
Yes. Based in Edmonton, The Schmidt Investment Group is licensed to provide advice in most provinces. Given we have many longstanding clients located across Canada we travel extensively to meet face to face with every client on a regular basis ensuring that all clients receive the expected level of advice and service. Our level of communication with all clients is consistent regardless of geographic location.
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12. What does "transparency" mean at The Schmidt Investment Group?
It is our commitment to clients to present information and answer any questions directly and openly in a manner that is easily understood. We will never compromise our values of being fully transparent and 100% accountable to clients. All fees are clearly disclosed and the performance of client portfolios is presented in an easily understood format. We immediately inform our clients and take the necessary steps whenever there may be a conflict of interest. We will never compromise our ethics, our commitment to transparency or violate the trust placed in us by our clients.
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13. I'm selling my business, is that something you can help with?
Yes. We have extensive experience working with business owners and entrepreneurs locally, nationally and internationally in transitioning or selling their business. The Schmidt Investment Group and CIBC provide financial advice and execution support for our clients’ most complex business decisions and transactions, making us a longstanding leader in the Canadian market. In the last decade, CIBC has advised on 155 Mid-Market transactions (under $150 million) totaling $4.85 billion of disclosed value. CIBC has also advised on 612 total transactions with an aggregate deal value of $489 billion since 2000.
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14. What is your fee structure?
We are and always have been very competitive with pricing. In the early stage of communication with clients we are very explicit and transparent as to what fees exist. This ensures that clients are aware of all fees before they commit to proceed. We believe that a client should pay only for what they are utilizing; therefore, different fees are applied for different asset classes, ensuring that a more conservative client does not subsidize the fees of a more aggressive or complex client mandate.
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15. What is your social mission?
The Schmidt Investment Group is the founder of the Expand Hope Foundation, a registered public foundation and Canada’s platform for global social change. Since May 12, 2018, The Schmidt Investment Group has committed to directing 100% of the first 18 months of investment management revenue from every new client of The Schmidt Investment Group and CIBC Private Wealth to the Expand Hope Foundation. This partnership between The Schmidt Investment Group and the Expand Hope Foundation means that by becoming a new client, or referring a new client, you will be helping to break the cycle of poverty for some of the world’s most vulnerable children. The Expand Hope Foundation uses these funds to provide access to education for communities with the greatest need globally, through the establishment of Expand Hope schools. If you become a new client of The Schmidt Investment Group and CIBC Private Wealth, an Expand Hope school will be built in your honour, and if applicable, in the honour of the person that referred you. As a new client or successful referrer, you will also be invited to take part in an Expand Hope Impact Trip – to join in the opening celebrations of the Expand Hope school built in your honour and to attend a Global Citizenship Forum.
16. Has any member of The Schmidt Investment Group ever received any past sanctions or reprimands?
Neither the team principal, Marvin J. Schmidt, nor any member of The Schmidt Investment Group, has ever received any sanctions or reprimands by any regulatory organization. This can be confirmed independently by contacting Grace McSorley at 416-304-2787 who is the Executive Director, Wealth Management Frontline Controls for CIBC Wood Gundy.
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