Leede Jones Gable Frequently Asked Questions (FAQ)

An FAQ with the Stephen Whipp Financial Team on their move to Leede Jones Gable Inc.

You may have questions about Stephen Whipp Financial’s move to Leede Jones Gable Inc., and so we have prepared some answers below. And of course feel free to email or call us with your questions.

best,

Stephen Whipp, CFP, RIAC

______________________________________________________

Frequently Asked Questions

Q. Why has the Stephen Whipp Financial team moved to Leede Jones Gable?

A. Our previous securities firm was Wolverton Securities. The family that owned the company decided to sell to another firm, PI Financial, effective June 20 2016. We had no influence or control over this. This initiated an in-depth due diligence process, for us, on more than half a dozen firms, finally deciding on Leede Jones Gable as the best fit for our clients and the services we offer to you.
Stephen Whipp and the staff made this switch effective June 20. JP Lafleur and Bibi Leikucs made the switch a bit earlier in order to facilitate the beginning of the process of working with clients to move their accounts.

Q. What does an investment dealership/securities firm do anyway?

A. A securities firm – such as Leede Jones Gable holds our professional licenses, which allow us to provide advice and services to you. They provide us with access to markets, oversight of our activities, and safe custody and tracking of client accounts. They essentially ‘host’ our regulatory capacity to service our clients.

Our team name – Stephen Whipp Financial – is our own brand that we have developed over the years to represent our 100% responsible investment approach. It has not changed.
Our team name – Stephen Whipp Financial – is our own brand that we have developed over the years to represent our 100% responsible investment approach. It has not changed.

Q. Why does it matter what firm my advisor team is with?

A. As a client, you have little direct interaction with whatever securities firm we are licensed with. However their systems, financial stability and culture can have a significant impact on how well we can service you, especially with regards to something unique such as responsible investing and our new portfolios.

Q. So who is Leede Jones Gable ?

After we realized it was not going to work with PI Financial, we did considerable due diligence on more than half a dozen potential securities firms/investment dealers. We finally found just the right fit. We are excited to be partnering with Leede Jones Gable, a Canadian independent firm head-quartered in Vancouver and Calgary, with offices in Toronto, Montreal, Charlottetown, Fredericton, Brandon, Red Deer, Kamloops and now Langford.

Our offices will stay in the same Langford location – 734 Goldstream Ave. We have already begun exploring the occasional use of a downtown Victoria location for the continued convenience of some clients.

Q. Why did my accounts get moved to PI Financial when the Stephen Whipp Financial team are now with Leede Jones Gable?

When a transaction like this happens, the regulators oversee the transferring of the investment assets to the new securities firm (called a ‘bulk transfer’). This happened on June 19 2016.

Because of the short time frame and the fact that we had no control over it, client accounts moved in this ‘bulk transfer’ to PI Financial on June 19.

For clients invested in the Integrity Portfolios, we made sure they were appropriately positioned for the ‘bulk transfer’ process.

Q. What happens now if I want to stay with the Stephen Whipp Financial team?

You’re in good company…

You will need to sign Leede Jones Gable paperwork. We will be in touch with you to arrange that soon. Fortuitously, this will help us accelerate talking to you about our long-awaited Integrity Portfolios and how they might fit with you. We can make the change to Leede Jones Gable and the new portfolios all at once.

In the meantime, as always, if you have any questions, please don’t hesitate to contact us at 250-405-3550.
Or via e-mail at jfinerty@leedejonesgable.com

Q. What about regular account transactions like monthly contributions or withdrawals?

As is standard practice with a ‘bulk transfer’, these were all stopped effective June 13 2016. We had no control over this.

When you sign new account paperwork, we will include new authorizations to resume these.

Q. Will I notice any differences at Leede Jones Gable?

You will see the usual cosmetic changes in logos etc. Your statements will look a bit different and log-in procedures will be changed. However the important things remain the same – our team is here to service you. Our office and phone numbers remain the same. And our commitment to responsible investing and values-aligned client service are unchanged.

Q. Why did you pick Leede Jones Gable?

Lots of reasons! It is an independent. It is owned by its advisors and staff. The experience of negotiating with them and meeting their head office team has been fun, frank, open and intelligent. They offer some progressive new features – such as on-line access to your tax slips. They are looking for ways to make our job easier – so we can do a better job servicing you.

They are fully supportive of our 100% responsible investment approach. In fact they were the only firm we spoke with that is already asking clients about ethical considerations in their investments. They understand our vision and support our intrepid and independent spirit in pursuing it on behalf of our clients.

Our top priority was to find a securities firm that was the best option for clients and that would support our responsible investment style. We also wanted to ensure the long-term sustainability of whatever firm we chose. Due diligence and a thoughtful decision were higher priorities for us than rushing our clients to complete paperwork. We are confident we can complete the paperwork process in an orderly fashion without great inconvenience to you.

Q. How do you know that Leede Jones Gable won’t sell itself?

The short answer is that we don’t. It is a volatile time in the industry. While there have been mergers and sales involving smaller independents, even the largest firms are not immune. Some big banks in Canada are going through significant changes and re-organizations within their securities businesses.

We have done our very best due diligence. Here are some of the positives that we see with Leede Jones Gable:
• It has been the acquirer of other firms
• It is employee-owned with no shareholder controlling more than a small percentage
• Its working capital is healthy

Even if some kind of sale or merger did happen, the team at Stephen Whipp Financial remains flexible, adaptable, and committed to our clients’ best interests.

More questions? Please contact us .


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The information in this website was obtained from sources believed to be reliable, however, we cannot guarantee that the information is accurate or complete. The information provided is a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities.

Leede Jones Gable Inc. is a
Member of IIROC and the Canadian Investor Protection Fund
Stephen Whipp is a member of the Responsible Investment Association



 

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