National Bank Independent Network
$12.6B reported client assets across 18 advisory firms in FY2025 annual amendments
Reported client assets over time
Same-firm comparison: 16 firms that reported National Bank Independent Network in both FY2024 and FY2025 annual amendments (ADV Item 5.K.(3)). Fiscal years come directly from the SEC filing-type table; filing dates are not used as a year-end proxy. 2017, 2018, 2019, 2020, 2021, 2022 are shown but partial — only FY2017: 1 cohort firms, FY2018: 6 cohort firms, FY2019: 8 cohort firms, FY2020: 8 cohort firms, FY2021: 11 cohort firms, FY2022: 10 cohort firms.
| Advisory firm | RAUM at custodian | Firm total AUM | Share | As of |
|---|---|---|---|---|
| Cardinal Capital Management, Inc. | $2.9B | $4.0B | 73.1% | 12/22/2025 |
| Guardian Partners Inc. | $2.8B | $3.3B | 85.4% | 03/31/2026 |
| Cardinal Point Capital Management, Ulc | $2.0B | $4.8B | 41.3% | 03/26/2026 |
| One Capital Management, Llc | $1.4B | $8.5B | 16.4% | 03/26/2026 |
| Rae & Lipskie Investment Counsel Inc. | $1.0B | $1.1B | 95.6% | 03/31/2026 |
| Lorne Steinberg Wealth Management Inc. | $793M | $814M | 97.3% | 03/27/2026 |
| Rempart Asset Management Inc. | $550M | $705M | 78.0% | 12/10/2025 |
| Nymbus Capital Inc. | $259M | $751M | 34.4% | 01/05/2026 |
| Turn8 Private Wealth Inc. | $256M | $283M | 90.3% | 06/11/2025 |
| Cidel Asset Management Inc | $144M | $4.8B | 3.0% | 03/27/2026 |
| Greenskeeper Asset Management Inc. | $104M | $116M | 89.5% | 02/09/2026 |
| The August Group Capital Limited | $88.5M | $740M | 12.0% | 03/13/2026 |
| Seven Hills Capital Corp. | $83.8M | $83.8M | 100.0% | 02/24/2026 |
| Transition Financial Advisors Group, Llc | $67.7M | $301M | 22.5% | 03/31/2026 |
| Laurus Global Equity Management Inc. | $50.4M | $333M | 15.1% | 03/19/2026 |
| Mca Cross Border Capital Inc. | $46.2M | $64.6M | 71.6% | 03/19/2026 |
| Tempered Investment Management Ltd. | $12.1M | $162M | 7.4% | 09/29/2025 |
| D.A.C. Davis Investment Counsel, Inc. | $9.5M | $12.3M | 77.8% | 06/11/2025 |
From Form ADV Schedule D 5.K.(3): custodians named at the 10%-of-SMA-assets threshold, with reported dollar amounts. "Share" is reported amount as a share of the firm's total regulatory AUM.