Scotia Private Client Group(R) Leads the Way with an Industry First Borrowing Innovation

Oct 27, 2010 | Corporate Member News

Dragons’ Den’s W. Brett Wilson is one of the first investors to take advantage of unprecedented access to credit with Total Wealth Credit Solution(TM)

For the first time in Canada, eligible high net worth investors and entrepreneurs will be able to access credit easily and efficiently through a fully automated and integrated lending platform thanks to Scotia Private Client Group’s new borrowing innovation, Total Wealth Credit Solution(TM). It enables eligible clients to use a broad range of their wealth assets in combination as loan collateral to take advantage of investment opportunities.

“Scotia Private Client Group is very pleased to launch this platform in the Canadian Private Banking marketplace,” says Andrew M. Wright, Managing Director & Head of Private Banking at Scotia Private Client Group. “Total Wealth systematically consolidates information on the client’s available collateral in a single platform, making it an ideal solution for investors who want convenient, integrated access to credit and know how to make their wealth work for them.”

One of the first clients to use Total Wealth is W. Brett Wilson, Chairman of Canoe Financial and Prairie Merchant and the lead deal-maker on Dragons’ Den, a reality TV program airing on CBC that features entrepreneurs pitching their business ideas to a panel of venture capitalists in order to secure financing.

According to Mr. Wilson: “Successful entrepreneurs need access to an integrated and flexible credit platform – and they need it to be convenient and uncomplicated. I’m impressed Scotia Private Client Group had the insight to create this solution. It’s a big step forward for active investors and business builders.”

Total Wealth enables clients to borrow against multiple asset classes held in different locations, under a single, integrated investment line of credit. This is an industry first in Canada among comparable Canadian financial institutions because Total Wealth systematically collects and manages information on different types of available collateral to maximize a client’s borrowing power.

How it works: Private bankers at Scotia Private Client Group can now access fully automated daily market valuation and margin calculations for a broad range of securities maintained in client investment portfolios – whether with an investment advisor or an on-line brokerage account. This information is then automatically combined with valuations of other collateral types maintained in Total Wealth, such as residential real estate or insurance policies. All of the collateral is consolidated in support of a single, integrated investment line of credit. This enables clients to leverage their broad-based wealth in a more efficient and convenient manner.

For example, investors and entrepreneurs can now combine their equity and fixed income securities portfolios with assets such as the cash surrender value locked in their insurance policy, or their residential or recreational property, to support convenient access to an investment line of credit.

Other features of Total Wealth Credit Solution: 

–   Clients can reduce risks associated with borrowing to invest by diversifying collateral, using assets with relatively stable market values in combination with investment portfolios that are valued daily

–   Collateral can be held as an individual, in a spouse’s name, or through a holding company.

–   There is no need to transfer or sell assets to access liquidity or consolidated credit against those assets, enabling clients to reduce their transaction costs and preserve their tax and investment strategies.

–   Credit can be accessed through simple overdraft or a combination of advances at fixed or floating rates in CAD or USD. 

“Total Wealth is ideal for the high net worth investor who values convenience, flexibility, simplicity and the ability to respond more quickly to opportunities dependent on ready access to credit,” concludes Mr. Wright. “We’ve anticipated that need and are now fulfilling it.”

About Scotia Private Client Group:

Scotia Private Client Group provides customized solutions to help high net worth clients build, preserve and transfer their wealth. Scotia Private Client Group consists of private client services from The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, Scotia Asset Management L.P., Scotia Asset Management U.S. Inc., ScotiaMcLeod Financial Services Inc., and ScotiaMcLeod(R), a division of Scotia Capital Inc. Scotia Capital Inc. is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. Scotia Private Client Group is a registered business name of The Bank of Nova Scotia, The Bank of Nova Scotia Trust Company, ScotiaMcLeod Financial Services Inc., Scotia Asset Management L.P., and Scotia Capital Inc. in the jurisdictions in which they carry on business. Private banking services are provided by The Bank of Nova Scotia. For more information, please visit

About Scotiabank(R):

Scotiabank is one of North America’s premier financial institutions and Canada’s most international bank. With close to 70,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $523 billion in assets (as at July 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit (R) Registered trademark of The Bank of Nova Scotia, used by its affiliates under license. (TM) Trademark of The Bank of Nova Scotia, used by its affiliates under license.

About W. Brett Wilson – W. Brett Wilson is Chairman of Canoe Financial, a privately owned investment management firm with over $1.5 billion in assets under management with an investment philosophy based on the strength of Canadian based companies that are uniquely positioned to prosper as a result of global growth in the coming years. He is also Chairman of Prairie Merchant Corporation, a private merchant bank focused on business opportunities in the energy, agriculture, real estate, sports, and entertainment industries. In 1993, he co-founded FirstEnergy Capital Corp., a Canadian brokerage firm that provides investment-banking services to Canada’s oil and natural gas sector. FirstEnergy is an industry leader, having participated in thousands of financing and M&A projects worth over $225 billion. In 2007, he stepped back from active duty, but remains an investor in the firm. Brett is also a panelist on CBC’s Gemini award winning hit reality TV show, Dragons’ Den.

For further information: Tara Wood, Narrative Advocacy Media, (416) 301-9760 or [email protected]; Jane Shannon, Scotiabank Public Affairs, (416) 933-3056 or [email protected]

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