The Private Investment Counsel Industry—Stormy with Occasional Sunny Periods

This brief research article was initially intended to be for our private investment counsellor (PIC) clients. However, as we conducted the research and received input from a wide number of firms including banks, broadly-based asset managers, and some IIROC and MFDA dealers, we recognized that the findings from PIC firms might have broad application to all advice-based channels.

The willingness and comfort of almost twenty firms to share their views and candid stories with Investor Economics is greatly appreciated and is true testimony to the spirit of the times.

What might the damage be to the PIC industry?