Protecting our clients’ privacy is a priority for VELA Wealth (“VELA” or “we/us/our”). We are committed to respecting the privacy rights of the individuals for whom we provide financial services, as well as for the visitors and registered users of our digital platforms.
We are responsible for all personal information that we collect or that is under our control. Our employees, agents, and suppliers are also required to keep our clients’ information safe and confidential. We have appointed a Privacy Officer who is accountable for our compliance with these privacy principles. The contact details of the Privacy Officer can be found at the end of this document.
The privacy principles adhered to by VELA ensure that the information submitted to us will be treated with the utmost confidentiality and in adherence with the Personal Information Protection and Electronic Documents Act of Canada (PIPEDA).
Personal Information refers to any information related to an identifiable individual, such as yourself, your spouse, or your children. An identifiable individual is someone who can be identified, either directly or indirectly, through information such as name, home address, personal telephone number, social insurance number, financial transactions, online behaviour, as well as factors specific to the individual such as gender, date of birth, etc.
The regulatory bodies that oversee us require us to comply with applicable laws and collect certain pieces of personal information such as your name, address, date of birth, identification, social insurance number, citizenship, country of residence, banking information, occupation, PEP (Politically Exposed Person) status, marital status, dependents, income, net worth, and health status (for insurance application purposes).
We may use this personal information to satisfy identification requirements, to serve your financial needs which includes establishing your accounts and providing suitable advice, to meet regulatory requirements set out by our regulators who have authority of the conduct of our business, to comply with foreign account tax compliance obligations, to contact you regarding the use of/or changes to your services, and to let you know about new services or opportunities.
We collect personal information directly from you, through our digital platforms, for example when you fill out the “Join our Newsletter” form on our website, or when you respond to one of our surveys. In some cases, and only with your consent, we will indirectly collect personal information through third-party reputable and reliable sources that will supplement the personal information you have already provided, for example through your accountant.
VELA Digital Platforms
We collect personal information related to your use of our online tools, such as our website, to allow us to analyze user trends, which allow us to evaluate and make improvements to our digital platforms’ content so we can serve you better.
VELA uses Google Analytics to better understand the nature of the traffic on our website, including how long your site visit was, the pages you visited, and whether you have visited our site previously. We use the information from Google Analytics for user experience improvements and for tailoring content to improve the overall usability of our website.
To learn how Google Analytics allows you to opt out of being tracked across all websites visit http://tools.google.com/dlpage/gaoptout
VELA will disclose your personal information with third parties only under the following scenarios: if you provide us with your explicit consent; to our employees and agents for managing your accounts and providing you with our services; as part of the requirements of the services we provide to you; if the disclosure is legally required by a governmental body or court that has jurisdiction over us; and to comply with laws and regulations.
Examples of third parties to which we disclose your personal information include: securities regulators and commissions; FINTRAC; provincial insurance councils; taxing authorities; governmental bodies or courts that have jurisdiction over us; representatives of VELA and VELA account custodians; and third-party companies that support VELA with fund accounting, record keeping, or client-related administrative services.
Personal information will be retained only as long as necessary for fulfillment of the above purposes and to comply with record retention policies of our regulators such as the provincial securities commissions, FINTRAC, and the provincial insurance councils, which include requirements to retain your personal information for as long as you are a client and up to eight years after the closure of your account.
We will keep client personal information as accurate, complete, and up-to-date as necessary for the purposes for which it is to be used. Clients are encouraged to contact their VELA Wealth Advisor if their personal information change.
We will protect personal information with security safeguards appropriate to the sensitivity of our clients’ personal information. We maintain records and retain personal information in electronic or paper format and protect this information using industry standard security safeguards, which are tested on a regular basis.
Upon request, you will be informed of the existence, use, and disclosure of your personal information and shall be given access to that information. You may verify the accuracy and completeness of the information and may request that it be amended, if appropriate. If you have a request for us that concerns your personal information, please contact our Privacy Officer (refer to the Contact Information section) and/or your advisor.
If we learn of a security breach that may impact your personal information, we will notify you. This notification will allow us to inform you of the specifics of the breach and to provide information on protective steps, if required.
If you have a question, concern, or complaint about this privacy notice, how we manage your personal information, a specific request regarding your personal information, or VELA’s privacy practices in general, please contact our Privacy Officer:
Attn: Privacy Officer
Unit 204 – 252 Esplanade West North Vancouver, BC V7M 0B4
Updates to Privacy Notice
We will update this notice from time to time to reflect any changes in our services, personal information management practices, or regulations.
The notice will be posted showing the effective date. We encourage you to periodically review this page for the latest changes.