How We Invest
The Charter Group manages discretionary model portfolios within TD Wealth Private Investment Advice. We make asset-allocation and security-selection decisions in-house.
We agree on an investment mandate with you. Within that mandate, we make day-to-day investment decisions without requiring your approval for each trade.
Our Investment Process
Research & Themes
We study economic conditions, interest rates, inflation and developments affecting industries. We assess valuations and the financial strength of individual investments.
Portfolio Construction
We decide how much of each model to hold in equities, fixed income, cash and selected diversifiers, then select the investments within that mix.
Risk Management
We consider position sizes, liquidity and how different holdings may respond to the same risks. We review individual investments and the portfolio as a whole.
Implementation & Oversight
Investment changes are decided centrally for the models. We monitor holdings and asset allocation as markets and conditions change.
Investment Beliefs
A good business is not automatically a good investment at any price. We look at the price, the business’s financial strength and its ability to keep generating cash.
We also ask what could go wrong. A business that needs to borrow regularly may be more exposed when financing becomes expensive. Short-term price changes matter, but so does the possibility that an investment will suffer a lasting loss.
Who Makes the Decisions
Mark Jasayko and Keith Henderson co-lead The Charter Group and both serve on its investment committee. Mark leads portfolio strategy, asset allocation and security selection. Keith focuses on client advice, portfolio management and coordinating clients’ financial plans.
Your lead advisor discusses what you need from the portfolio and whether those needs have changed. The investment team remains responsible for decisions within the models.
Portfolio Construction
Equities
Equities provide the main opportunity for long-term growth. We assess businesses, sectors and valuations when selecting equity exposure.
Fixed Income
Fixed income can support income, liquidity and portfolio stability. Credit quality and sensitivity to interest rates inform our decisions.
Diversifiers
Diversifiers, such as gold or commodity exposures, may be included where they serve a clear portfolio purpose.
Cash
Model Portfolio Framework
Our models share a common investment philosophy and a broadly consistent approach to equity selection. Their main differences are asset allocation and the balance between growth, income and risk.
Conservative (P1)
Emphasizes capital preservation and lower volatility within the model range.
Balanced Income (P2)
Places greater emphasis on income and stability.
Balanced (P3)
Combines growth investments, fixed income and selected diversifiers.
Balanced Growth (P4)
Places greater emphasis on long-term growth.
Growth (P5)
Has the strongest growth emphasis in the range, for investors able to accept greater volatility over a longer horizon.
We select a mandate with you based on your goals, when you will need the money and how much risk you can accept. We use this shared model framework rather than designing a separate set of securities from scratch for each client.
Individual account holdings and weights can differ from model targets because of market movements and the timing of deposits, withdrawals and investment changes.
Risk & Expectations
All models can decline in value, including those focused on capital preservation. Diversification and risk management cannot eliminate losses. Liquid holdings can still fall in price.
We review the portfolio through changing markets and discuss whether changes in your circumstances call for a different mandate.
Questions About Working With Us
How do corporate and personal accounts fit together?
We look at who owns each account, what the money is for and when it will be needed. Corporate and personal accounts can have different requirements. We work with your accountant, lawyer and TD specialists on the planning questions that affect those investments.
How do ongoing reviews work?
We review the portfolio and ask what has changed in your life or finances. We discuss withdrawals, upcoming decisions and whether the mandate still fits. Your lead advisor coordinates any follow-up with the team.
Where can I learn more about your investment thinking?
Our Monthly Letter explains Mark’s views on economic developments, investment risks and portfolio decisions. Each issue records the thinking at that time.
Start a Conversation
Tell us about your investments and the decisions ahead. We will explain our approach, our fees and who would be responsible for your relationship.
