PRIVACY NOTICE
VELA Wealth Management Inc.
Last updated: June 2026
Our commitment to you
Protecting your privacy is a priority for VELA Wealth. This Notice explains what personal information we collect, why we collect it, how we use and protect it, and what rights you have over your information. We encourage you to read it in full. If you have any questions, please contact our Privacy Officer using the details in Section 12.
- APPLICABLE LEGISLATION
VELA Wealth is a British Columbia-based firm. The collection, use, and disclosure of personal information by VELA Wealth is governed primarily by the British Columbia Personal Information Protection Act (PIPA BC). To the extent that personal information crosses provincial or national borders — for example, where information is shared with service providers located outside BC — the federal Personal Information Protection and Electronic Documents Act (PIPEDA) also applies.
We have appointed a Privacy Officer who is accountable for our compliance with both PIPA BC and PIPEDA, and for the privacy principles set out in this Notice. Our employees, agents, and service providers are also required to protect client information in a manner consistent with these principles.
- WHAT IS PERSONAL INFORMATION?
Personal information is any information about an identifiable individual — meaning someone who can be identified directly or indirectly. Examples include:
- Name, home address, and personal contact details
- Date of birth, gender, and citizenship
- Social Insurance Number (SIN)
- Financial information, including income, net worth, and banking details
- Health information (collected for insurance application purposes only)
- Online identifiers, such as IP address and device information
Personal information does not include business contact information used solely in a professional capacity (e.g., a business name, title, or office phone number).
- HOW WE COLLECT YOUR PERSONAL INFORMATION
Directly from you
We collect most personal information directly from you — through client onboarding forms, account applications, conversations with your advisor, and through our digital platforms (for example, when you complete a contact form or subscribe to our newsletter).
From third parties (with your consent)
In some cases, and only with your express consent, we may collect personal information indirectly from reputable third-party sources — for example, from your accountant or legal advisor — to supplement the information you have already provided to us.
Through our digital platforms
When you visit our website or use our digital tools, we may automatically collect certain technical information such as your IP address, date and time of access, device type and operating system, and browsing behaviour on our site. This information is used to analyze user trends, improve our digital platforms, and tailor content to improve your experience. See Section 10 for more detail on cookies and analytics.
Regulatory requirements
Certain pieces of personal information — such as your name, address, date of birth, government-issued identification, SIN, citizenship, country of residence, banking information, occupation, PEP (Politically Exposed Person) status, marital status, dependents, income, net worth, and health status — are required by the regulatory bodies that oversee us. We are not able to establish or maintain an account or provide financial services without this information.
- HOW WE USE YOUR PERSONAL INFORMATION
We use personal information only for the purposes for which it was collected or for directly related purposes. These include:
- Verifying your identity and satisfying regulatory identification requirements;
- Establishing and administering your accounts and client file;
- Providing you with suitable financial advice, planning services, and insurance products;
- Meeting regulatory requirements set by the bodies that have authority over our business, including securities commissions, FINTRAC, and provincial insurance councils;
- Complying with foreign account tax compliance obligations (e.g., FATCA, CRS);
- Contacting you regarding changes to your services or account;
- Analyzing and improving our digital platforms and client experience; and
- Informing you of new services or opportunities where you have consented to receive such communications.
We do not use your personal information for purposes beyond those described in this Notice without first obtaining your consent, except as required or permitted by law.
- HOW WE DISCLOSE YOUR PERSONAL INFORMATION
VELA Wealth will not disclose your personal information to third parties except in the following circumstances:
- You have provided your explicit consent to the disclosure;
- The disclosure is to VELA Wealth employees and agents for the purpose of managing your account and delivering our services;
- The disclosure is required as part of delivering the financial services you have engaged us for (for example, sharing information with a licensed insurer to place an insurance policy);
- The disclosure is legally required by a governmental body, securities regulator, taxing authority, or court with jurisdiction over us; or
- The disclosure is otherwise required or permitted by applicable law.
Third-party advisors
Where you have authorized VELA Wealth to share your information with specific third-party professionals — such as your lawyer, accountant, or investment manager — we will do so in accordance with the instructions you have provided in your Authorization to Disclose Personal Information form. We will not contact or share your information with named third parties without your specific prior authorization, except as required by law.
Examples of third parties we may disclose to
- Securities regulators and commissions;
- FINTRAC;
- Provincial insurance councils;
- Taxing authorities;
- Governmental bodies or courts with jurisdiction over us;
- Licensed Canadian insurers and their representatives;
- Registered investment managers engaged on your behalf;
- Third-party companies that support VELA with fund accounting, recordkeeping, or client-related administrative services; and
- Third-party technology service providers, including AI-enabled software providers, that support VELA with the preparation of client deliverables, data processing, and related administrative services.
We do not sell, rent, or trade your personal information, and we do not disclose it to third parties for their own marketing or commercial purposes.
- USE OF TECHNOLOGY AND AI-ENABLED TOOLS
VELA Wealth uses a range of technology tools — including artificial intelligence (AI)-enabled software — to support our operations, the preparation of client deliverables, internal analysis, and workflow automation. We use these tools to deliver consistent, high-quality service while maintaining the professional oversight our clients expect.
How your information may be involved
In the course of using these tools, personal information you provide to us may be processed by third-party service providers, including providers located outside of Canada. Where your personal information is processed outside Canada, it may be subject to the laws of that jurisdiction — including laws that permit access by foreign courts, law enforcement, or regulatory authorities. We take reasonable steps to ensure your information receives a comparable level of protection while processed abroad, including through written agreements with our service providers.
Our safeguards for AI use
Provider Selection: We select AI providers that offer enterprise-grade security and data protection terms appropriate to the sensitivity of client information.
Access Controls: Access to AI-enabled tools is limited to authorized VELA personnel only.
Security Safeguards: We apply encryption and other technical safeguards appropriate to the sensitivity of the information being processed.
Data Minimization: Where practical, we minimize or redact identifying details before information is processed by an AI tool.
AI does not make decisions about you
AI-enabled tools do not make advisory, suitability, or underwriting decisions on our behalf. Every client-facing deliverable prepared with AI assistance is reviewed by a qualified VELA advisor before it is shared with you. VELA Wealth remains fully responsible for the accuracy, suitability, and appropriateness of the advice and materials we provide.
If you have questions about our use of AI-enabled tools or wish to discuss how your personal information is processed, please contact our Privacy Officer using the details in Section 12.
- HOW LONG WE RETAIN YOUR PERSONAL INFORMATION
We retain personal information only for as long as necessary to fulfill the purposes for which it was collected and to comply with the record retention requirements of the regulatory bodies that oversee us — including provincial securities commissions, FINTRAC, and provincial insurance councils. This generally means we retain your personal information for as long as you are a client and for a minimum of seven (7) years following the closure of your account or the end of our engagement with you.
We store personal information in both electronic and paper formats, using Canadian and non-Canadian service providers. Where information is stored or processed outside Canada, we apply the same safeguards described in Section 6 of this Notice.
We will keep your personal information as accurate, complete, and up-to-date as necessary for the purposes for which it is used. Please contact your VELA Wealth advisor promptly if any of your personal information changes.
- HOW WE PROTECT YOUR PERSONAL INFORMATION
We protect personal information using security safeguards appropriate to its sensitivity. These include:
- Industry-standard encryption for electronic records;
- Access controls limiting information to authorized personnel;
- Physical security measures for paper records; and
- Regular testing and review of our security practices.
Our employees, agents, and service providers are contractually required to protect client information and to use it only for the purposes for which it was provided.
- YOUR PRIVACY RIGHTS
In accordance with BC PIPA and PIPEDA, you have the following rights with respect to your personal information:
Access – You may request to know what personal information VELA Wealth holds about you, how it is being used, and to whom it has been disclosed.
Correction – You may request that inaccurate or incomplete personal information be corrected.
Withdrawal of Consent – You may withdraw your consent to the collection, use, or disclosure of your personal information at any time, subject to legal or contractual limitations. Please note that withdrawal of consent may limit or prevent VELA Wealth from continuing to provide some or all services to you.
Complaint – If you believe your privacy rights have been violated, you may make a complaint to VELA Wealth’s Privacy Officer. If you are not satisfied with our response, you have the right to escalate your complaint to the Office of the Information and Privacy Commissioner for BC (OIPC BC) — see Section 12.
To exercise any of these rights, please contact our Privacy Officer using the details in Section 12.
- COOKIES AND ANALYTICS
VELA Wealth does not use advertising cookies or tracking cookies for commercial targeting purposes.
We use Google Analytics on our website to better understand how visitors use our site — including visit duration, pages viewed, and whether you have visited previously. Google Analytics uses cookies to collect this information. We use this data to improve user experience and tailor content to better serve our visitors.
The information collected through Google Analytics is processed by Google and may be stored on servers outside Canada.
If you prefer not to accept cookies, most browsers allow you to refuse or delete cookies through your browser settings. Please note that some features of our website may not function correctly if cookies are disabled.
- PRIVACY BREACHES
If we become aware of a security breach that may have compromised your personal information, we will notify you as required by applicable privacy legislation. Our notification will describe the nature of the breach, the information affected, the steps we have taken or will take in response, and any steps you can take to protect yourself.
We maintain internal procedures for identifying, containing, and reporting privacy breaches, including to the relevant regulatory authorities where required by law.
- CONTACT INFORMATION
If you have a question, concern, or complaint about this Privacy Policy, how we manage your personal information, or VELA Wealth’s privacy practices in general, please contact our Privacy Officer:
VELA Wealth Management Inc.
Unit 908 – 925 West Georgia
Vancouver, BC V6C 3L2
Phone: 604.685.5355
- UPDATES TO THIS NOTICE
We will update this Privacy Notice from time to time to reflect changes in our services, personal information practices, or applicable legislation. When we make material changes, we will update the effective date shown at the top of this Notice and on our website. We encourage you to review this Notice periodically.