HNW compensation

For an invstmt counsellor (NOT advisor), bank-owned brokerage in Canada - what are we looking at for compensation (base/salary), hours, and most importantly - can I be a ballin’ BSD as a HNW IC?

whats the dif between a counselor and an advisor? Is that a Canadian thing?

I think so; counsellor doesn’t do the nasty bits of cold-calling through the yellow pages and selling GIC’s to $45k-earning schoolteachers. But there’s still not the sexiness of actual PM work, and potentially limited rltnshp mgr work as well, I think. Can anyone shed light on the actual duties of an IC in the overall asset mgmt framework? IH8FSA?

Can’t help, I have been in HNW shop with the roles very distinct: relationship person or investment person…the relationship people could be your BSD if they bring in lots of client assets, the investment person could be a BSD if he has good performance…the receptionist cannot be a BSD, but she can get one!

Investment Counsel is a type of licensing directly with the local securites commission. Portfolio manager (PM) can do discretionary trading. Investment Counsel (IC) can make suggestions about trading but has to have permission from the client. Bank brokerages are usually registered with IROC but they do have IC sides which usually just sell pooled funds to clients that are referred to them from the branch network. The IC in a bank firm would be more of a relationship person and comp would be tied to AUM