PUBLISHER'S FOREWORD

Investors have many options open to them today. There is a myriad of advisors and services available to assist them in the management of their retirement funds and other investment assets. The financial services industry can be confusing and it often is difficult for an individual to navigate without a road map. This directory is intended as a useful guide to investment counselling, which is increasingly becoming a preferred option for high net-worth investors.

Many individuals enjoy managing their own investment portfolios and keeping up with the activities of the financial markets on a day-to-day basis. Others like to have direct involvement with only a portion of their portfolios while leaving the bulk of the task to professionals. However, for many, a personal involvement in the investment process is simply a burden on their careers, families and leisure time. Hence they want someone to manage their entire investment portfolio.

Through their experiences with mutual funds, many investors have come to appreciate the value of professional investment management. Investment counselling is simply an extension of this preference for professionally managed products and services, designed to meet the unique needs of the high net worth individual.

This directory of companies makes no attempt to be a comprehensive listing of every firm that offers investment counselling services. To be included, firms were required to meet certain conditions in the manner in which they handled accounts. These conditions reflect current professional and fiduciary standards of care in the management of client portfolios.

This guide deals specifically with those firms that offer 'discretionary management' of investment portfolios. Accordingly, the portfolio manager is authorized to make decisions and undertake purchases and sales for a client's account without consulting the client on each transaction. This is, of course, subject to an agreed upon set of guidelines and limitations.

This directory is the second in a series of investment counselling directories published by Rodgers Investment Consulting. The first in the series was issued in 1997 for the Province of British Columbia. The idea for a directory was initiated by Mathew Wood, at that time a Vice President at M.K. Wong & Associates. The project was promoted by Mr. Wood as an industry initiative to provide information and education about investment counselling. We were honoured to be asked to act as publisher for the original directory and enjoyed working with all participants. Participating firms were: CC&L Private Management, CT Private Investment Counsel, Genus Capital Management, Leith Wheeler Investment Counsel Ltd., M.K. Wong & Associates Ltd., Perigee Investment Counsel Inc., Phillips Hager & North Investment Ltd. and TAL Private Management Ltd.

We trust that this directory will be useful to clients, their accountants, lawyers and other specialized advisors seeking professional investment managers who conduct their business and client relationships with a high degree of professional integrity and fiduciary care.

• CRITERIA FOR INCLUSION