Privacy Policy
Effective date: January 2, 2025
Privacy Policy
Richmond Global Wealth (“RGW”) and Richmond Global Insurance (“RGI”) recognize the importance of keeping your personal information secure and confidential. As providers of wealth and insurance advisory services, we have a heightened duty to protect the personal information entrusted to us in the course of our professional relationships. Our relationships with clients are founded on trust and confidence, and we are committed to maintaining the highest standards of confidentiality over the personal information we collect.
Since January 1, 2004, Canadian businesses must comply with the Personal Information Protection and Electronic Documents Act (“PIPEDA”). These standards apply to RGW and RGI. PIPEDA grants you rights to protect your personal information.
The purpose of this Privacy Policy (“Policy”) is to explain our responsibilities under PIPEDA and to provide transparency regarding our practices in the collection, use, and disclosure of your personal information.
As used throughout this Policy, the terms “RGW,” “RGI,” “we,” “our,” or “us” refer to Richmond Global Wealth and Richmond Global Insurance.
Why do RGW and RGI need your information?
RGW and RGI provide wealth management and insurance advisory services to a wide range of clients. We collect personal information for the following limited purposes:
- To identify and verify you in accordance with industry requirements;
- To understand your financial goals, risk tolerance, and insurance needs;
- To design and recommend tailored wealth management and insurance strategies;
- To administer client accounts and process transactions;
- To update your contact information and maintain client lists;
- To provide materials concerning our services, third-party services, and industry developments.
If you no longer wish to receive information about our services, third-party services, or industry developments, we will immediately cease sending you any further material.
What Personal Information Do We Collect?
Personal information is any information about an individual. This may include details such as:
- Age, identification numbers, income, and financial status;
- Banking and investment account details;
- Insurance policy and claim information;
- Health or medical records (where required for insurance underwriting);
- Employment records; and
- Any other information relevant to the services we provide.
We collect personal information at the outset of our advisory relationship and only to the extent required to provide you with our services as disclosed in this Policy.
How Do We Collect Personal Information?
We collect personal information at the start of our advisory engagement and as required on a continual basis. While most information is obtained directly from you, it may also be gathered from other sources to provide you with the most efficient service possible. For example, we may collect information from:
- Insurance providers and financial institutions;
- Government agencies and registries;
- Employers, accountants, and other professional advisors;
- Internally generated work products and client interactions.
Consent
PIPEDA allows us to collect, use, and disclose information for matters related to your engagement.
In most cases, we ask for your consent if we collect, use, or disclose your personal information beyond what is necessary for the delivery of our services. Consent may be implied through your conduct with us or given expressly in writing, electronically, verbally, or through an authorized representative. You may withdraw consent at any time, subject to reasonable and contractual restrictions and reasonable notice.
Disclosure of Personal Information
RGW and RGI will not disclose personal information to any third parties to market their products or services without your consent. Under limited circumstances, RGW and RGI will disclose personal information if:
- Required or authorized by law, such as in response to a court order or subpoena;
- Necessary to establish or collect fees;
- You have expressly consented to a disclosure;
- Required to provide services (e.g., submitting insurance applications or investment forms);
- A third-party service provider is hired to assist with administrative functions (e.g., payroll, data storage), provided that the third party is bound by this Policy;
- Engaging external consultants or experts on your behalf;
- The information is publicly available; or
- Other purposes as permitted or required by applicable law.
Securing Your Personal Information
RGW and RGI take reasonable precautions to ensure that your personal information is kept safe from loss, unauthorized access, modification, or disclosure. Measures include:
- Secure office premises;
- Restricted access to client files;
- Implementation of safeguards like encryption, firewalls, and secure servers; and
- Internal policies for staff, including password protection and confidentiality agreements.
Accuracy of Personal Information
We are committed to maintaining accurate, complete, and up-to-date personal information. If you are aware of any changes to your personal information, please inform us so we can make the necessary updates.
Changes to Our Privacy Policy
RGW and RGI regularly review all policies and procedures. This Privacy Policy may be updated periodically to reflect changes in practices or regulatory requirements.
Website and Related Links
Our website, www.richmondglobalwealth.com, and related pages may contain links to other websites not governed by this Policy. These links are provided for your convenience and do not constitute an endorsement or approval of those websites. RGW and RGI are not responsible for the privacy practices or content of external websites.
We may monitor website traffic patterns and usage to optimize our web services. Aggregated, non-identifiable data may be shared with third parties for analytical purposes.
Access to Personal Information and Questions
If you have any questions, wish to access or update your personal information, or have a privacy complaint, please contact our Privacy Officer at:
Richmond Global Wealth and Richmond Global Insurance
4 Robert Speck Parkway, Suite 1610
Mississauga, ON
L4Z 1S1
Attention: Privacy Officer
Email: info@richmondgw.com
Let me know if you’d like further refinements!