Clients
Canso Investment Counsel serves 105 clients, 65 of them pooled investment vehicles. The average client has about $444 million with the firm.
- Investment companies1 clients3%
- Pooled investment vehicles65 clients61%
- Pension and profit-sharing plans9 clients6%
- State or municipal government entities9 clients8%
- Other investment advisers8 clients17%
- OtherCorporations and other businesses, Charitable organizations, Insurance companies, Other5%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 1 | $1,215,255,665 | 2.6% | $1.22B |
| Pooled investment vehicles | 65 | $28,227,282,570 | 60.5% | $434.3M |
| Pension and profit-sharing plans | 9 | $2,971,656,630 | 6.4% | $330.2M |
| Charitable organizations | 3 | $154,488,563 | 0.3% | $51.5M |
| State or municipal government entities | 9 | $3,617,948,140 | 7.8% | $402.0M |
| Other investment advisers | 8 | $8,088,713,795 | 17.3% | $1.01B |
| Insurance companies | 1 | $101,831,356 | 0.2% | $101.8M |
| Corporations and other businesses | 7 | $2,062,314,687 | 4.4% | $294.6M |
| Other | 2 | $206,252,487 | 0.4% | $103.1M |
| Total | 105 | $46,645,743,893 | 100% | $444.2M |
- Clients
- 1
- Regulatory AUM
- $1,215,255,665
- Share
- 2.6%
- Avg. per client
- $1.22B
- Clients
- 65
- Regulatory AUM
- $28,227,282,570
- Share
- 60.5%
- Avg. per client
- $434.3M
- Clients
- 9
- Regulatory AUM
- $2,971,656,630
- Share
- 6.4%
- Avg. per client
- $330.2M
- Clients
- 3
- Regulatory AUM
- $154,488,563
- Share
- 0.3%
- Avg. per client
- $51.5M
- Clients
- 9
- Regulatory AUM
- $3,617,948,140
- Share
- 7.8%
- Avg. per client
- $402.0M
- Clients
- 8
- Regulatory AUM
- $8,088,713,795
- Share
- 17.3%
- Avg. per client
- $1.01B
- Clients
- 1
- Regulatory AUM
- $101,831,356
- Share
- 0.2%
- Avg. per client
- $101.8M
- Clients
- 7
- Regulatory AUM
- $2,062,314,687
- Share
- 4.4%
- Avg. per client
- $294.6M
- Clients
- 2
- Regulatory AUM
- $206,252,487
- Share
- 0.4%
- Avg. per client
- $103.1M
Total
- Clients
- 105
- Regulatory AUM
- $46,645,743,893
- Share
- 100%
- Avg. per client
- $444.2M
What it does
Canso Investment Counsel provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Canso Investment Counsel advises no private funds.
100.0% of assets ($46.65B across 105 accounts) are managed with discretion. 100% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks1%
- Bonds99%
- Investment grade corporate bonds65%
- Sovereign bonds25%
- High-yield corporate bonds5%
- U.S. government and agency bonds4%
Custodians
Canso Investment Counsel’s client accounts are held mainly at State Street Bank and Trust, with 14% of managed assets, and CIBC Mellon Trust, with 12%. Canso Investment Counsel does not have custody of client assets.
- RBC Investor Services TrustRBC Investor Services Trust · Toronto, Ontario · $4.04B9%
- CIBC Mellon TrustCIBC Mellon Trust Company · Toronto/Mississauga, Ontario · $5.53B12%
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $6.71B14%
- All other custodians$30.36B65%
Ownership and leadership
Grip Asset Management Limited owns 50% to 75% of Canso Investment Counsel, and Heather Mason-Wood is its CEO.
- Owns 50% to 75% of Canso Investment Counsel LTD.
Grip Asset Management Limited
Control person · since July 2010
Carswell Family Trust
Shareholder (class b) - subordinated voting class · Control person · since July 2010
Brenda Burns
Trustee · Control person · since July 2010
Natalie Carswell
Vice-president · Control person · since July 2010
- Owns 10% to 25% of Canso Investment Counsel LTD.
Grip Investments Limited
Control person · since June 1997
- Owns 75% or more of Grip Investments Limited
John Carswell
Control person · since July 2010
Kim Carswell
Shareholder (class a) - non-voting class · Control person · since July 2010
- Owns 10% to 25% of Canso Investment Counsel LTD.
Gail Mudie
since February 1999
- Owns 10% to 25% of Canso Investment Counsel LTD.
Heather Mason-Wood
Control person · since June 2004
- Owns 10% to 25% of Canso Investment Counsel LTD.
Vivek Verma
since May 2008
- Owns 10% to 25% of Canso Investment Counsel LTD.
Brian Usher-Jones
since January 2011
- Owns 5% to 10% of Canso Investment Counsel LTD.
Joseph Morin
since January 2011
- Owns 5% to 10% of Canso Investment Counsel LTD.
Timothy Hicks
since September 2011
- Owns 5% to 10% of Canso Investment Counsel LTD.
Moon Lee
since April 2017
- Owns 5% to 10% of Canso Investment Counsel LTD.
Joseph McCalmont
Control person · since April 2017
- Owns 5% to 10% of Canso Investment Counsel LTD.
Jeffrey Carter
Control person · since April 2017
- Owns 5% to 10% of Canso Investment Counsel LTD.
Jason Bell
since June 2017
- Owns 5% to 10% of Canso Investment Counsel LTD.
Nicolas Desjardins
since April 2018
- Owns 5% to 10% of Canso Investment Counsel LTD.
Jason Davis
since December 2020
- Owns 5% to 10% of Canso Investment Counsel LTD.
John Laing
since March 2015
Leadership
- Heather Mason-WoodShareholder (class A and Class B), Chief Executive Officer (since 09/2025)
- Joseph McCalmontShareholder (class B and Class C), President (since 09/2025)
- Shirley SumsionChief Financial Officer and Direct Shareholder
- Jeffrey TangShareholder (class B and Class C), Chief Compliance Officer (since 09/2024)
- Antonietta BizzottoShareholder (class B and Class C), Chief Legal Officer (since 09/2025)
- John CarswellExecutive Chair
- Jeffrey CarterShareholder (class B and Class C), Chief Risk Officer (since 12/2024)
- Gail MudieShareholder (class A and Class B)
- Vivek VermaShareholder (class A and Class B)
- Brian Usher-JonesShareholder (class B)
- Joseph MorinShareholder (class B)
- Timothy HicksShareholder (class B)
- Moon LeeShareholder (class B and Class C)
- Jason BellShareholder (class B and Class C)
- Nicolas DesjardinsShareholder (class B and Class C)
- Jason DavisShareholder (class B and Class C)
- John LaingShareholder (class B and Class C)
Staff
- 71 employees
- 34 in advisory functions
Fees
Canso Investment Counsel is paid through a percentage of assets under management and performance-based fees.
Canso Investment Counsel’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Canso Investment Counsel has 1 office, with 1 listed address with no US state reported.
Registration details
- Legal name
- Canso Investment Counsel LTD.
- Headquarters
- 100 York Boulevard, Suite 550, Richmond Hill, Ontario, Canada L4B1J8
- Phone
- 19058818853
- Website
- Not reported
- SEC file
- 801-132893
- Structure
- corporation organized in Canada
- Fiscal year end
- June
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Canso Investment Counsel have?
Canso Investment Counsel has 105 clients and manages $46.6 billion for them, as of September 2026. They include 65 pooled investment vehicles, 9 pension and profit-sharing plans and 9 state or municipal government entities.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 September 2026
What services does Canso Investment Counsel offer?
Canso Investment Counsel provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Canso Investment Counsel use?
Canso Investment Counsel’s separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $6,713,222,811, CIBC Mellon Trust Company (Toronto/Mississauga, Ontario), with $5,531,660,491 and RBC Investor Services Trust (Toronto, Ontario), with $4,040,563,363. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 September 2026
How many financial advisors does Canso Investment Counsel have?
Canso Investment Counsel has 0 investment adviser representatives registered with state securities authorities, out of 71 employees, and 34 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Canso Investment Counsel invest in?
At the end of its last fiscal year, Canso Investment Counsel’s separately managed accounts held 65% investment grade corporate bonds, 25% sovereign bonds, 5% high-yield corporate bonds, 4% U.S. government and agency bonds and 1% exchange-traded equities. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Canso Investment Counsel?
Canso Investment Counsel is owned through holding companies by John Carswell. Its direct owners are Grip Asset Management Limited (50% to 75%), Grip Investments Limited (10% to 25%), Gail Mudie (10% to 25%), Heather Mason-Wood (10% to 25%), Vivek Verma (10% to 25%), Brian Usher-Jones (10% to 25%), Joseph Morin (5% to 10%), Timothy Hicks (5% to 10%), Moon Lee (5% to 10%), Joseph McCalmont (5% to 10%), Jeffrey Carter (5% to 10%), Jason Bell (5% to 10%), Nicolas Desjardins (5% to 10%), Jason Davis (5% to 10%) and John Laing (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 25 September 2026
How does Canso Investment Counsel get paid?
Canso Investment Counsel is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file