This page explains how compensation works, how potential conflicts of interest are identified and disclosed, and how they are managed. The purpose is transparency and informed decision-making.
Long-term advisory relationships require clarity not only about strategies and structures, but also about incentives.
Registration and Capacity
Investment services are provided in the capacity of a Mutual Fund Dealing Representative registered with WhiteHaven Securities Inc.
Insurance solutions are offered through appropriately licensed insurance distribution relationships.
All recommendations are made within the scope of applicable licenses, regulations, and professional standards.
How Investment Compensation Works
Mutual fund accounts with WhiteHaven Securities Inc. come in two forms. The client chooses, and the choice changes how I am paid, not how much attention the account gets.
Client name account
The investments are registered in the client's name, or the corporation's, with each fund company, and the account uses advisor-series funds. The fund's management fee covers managing the fund and servicing the account, including the advisor's compensation. The fund company pays part of that fee to the dealer, WhiteHaven Securities Inc., which pays part of it to me.
This compensation:
- Is embedded in the fund's management fee, with nothing billed separately
- Does not increase the cost of the investment to the client
- Is the same regardless of which dealer or licensed advisor is involved
Nominee account
The investments are held by WhiteHaven Securities Inc. on the client's behalf, and the account uses F-series funds. Their management expense ratio covers only the management of the fund and contains no advisor compensation. WhiteHaven Securities Inc. charges the client an annual fee for servicing the account, agreed in writing, and pays part of it to me. GST and QST apply to that fee.
What each type of account costs in dollars, and how the annual fee is set, is on how advisor fees work.
In both cases, compensation is not based on trading activity or transaction volume. It is linked to assets held over time, which supports a long-term, stewardship-based approach rather than frequent changes.
How Insurance Compensation Works
When an insurance policy is issued, the insurance company pays a commission to the advisor.
Typically:
- A larger commission is paid at the time a policy is issued
- Smaller renewal commissions may be paid in subsequent years
- Renewal periods vary by product and insurer and are often, but not always, limited to a defined number of years
The cost of insurance is established by the insurer and does not change based on the advisor selected.
Conflicts of Interest : General Principles
A conflict of interest exists when an advisor's interests, including compensation, could reasonably be perceived to influence a recommendation.
Not all conflicts can be eliminated. They must be:
- Identified
- Disclosed clearly and in writing
- Managed in the client's best interest
This applies to both insurance and investment recommendations.
Insurance-Specific Conflict Disclosure
Insurance products involve commissions paid by insurers. As a result, a conflict of interest may arise because compensation varies by product, insurer, and structure.
When an insurance recommendation is made:
- Any material conflict of interest is disclosed in writing
- The purpose of the insurance, alternatives considered, and trade-offs are explained
- The recommendation is tied to a clearly defined planning objective, such as risk management, capital preservation, or estate strategies
If a conflict cannot be appropriately managed or disclosed, the recommendation is not made.
Investment-Related Conflict Disclosure (Voluntary)
Although investment compensation is embedded in fund fees and paid through the dealer, a potential conflict of interest may still exist, as compensation is linked to assets invested.
For this reason, the same disclosure standard is applied voluntarily to investment recommendations.
When an investment recommendation is made:
- The role of compensation is disclosed and discussed
- Recommendations are not based on incentives tied to trading or short-term activity
- Solutions are selected from multiple available providers rather than a single manufacturer
- The recommendation is documented in the context of the client's long-term strategy
This approach is intended to ensure consistency between insurance and investment advice and to support informed client consent.
Fees for Advice, Reviews, and Education
No fee is charged for advice. That covers the first conversation, education and information sessions, reviews, written summaries and every strategy discussion after that. In 20 years of practice, no client has been charged for advice.
These services are part of an ongoing advisory relationship and are offered the same way to all clients. Clients who hold a nominee account pay the annual fee agreed for that account, and nothing else.
The absence of a fee for advice does not reduce the depth, rigor, or responsibility applied to strategies and recommendations. Why advice is free, and why that does not lock anyone in, is explained on how advisor fees work.
If compensation structures or service models change in the future, such changes will be communicated clearly and in advance.
Brand-Agnostic and Structure-First Approach
No single bank, insurer, or investment provider is preferred by default.
Recommendations are made by:
- Defining the strategy and structural need first
- Evaluating multiple available solutions
- Selecting based on suitability, efficiency, and long-term fit
The objective is to isolate the best value for the specific strategy being implemented, not to promote a particular product or brand.
Ongoing Disclosure and Client Questions
Conflict disclosure is not a one-time event.
Clients are encouraged to ask questions at any time, and material conflicts are disclosed whenever recommendations are made or circumstances change.
Transparency is treated as an ongoing responsibility, not a compliance formality.
Important Disclosure
Investment and insurance solutions involve risk and may not be suitable for all clients. Past performance is not indicative of future results. Recommendations are based on information provided and may change if circumstances change.
For additional regulatory disclosures, please refer to the firm disclosure documents provided by WhiteHaven Securities Inc.
Why This Approach Is Intentional
Applying the same written conflict-of-interest discipline to both insurance and investments reflects a long-term, dynasty-building mindset. Consistency, documentation, and clarity protect not only the client, but the integrity of the planning process itself.
Last Updated: October 25, 2026