{
  "crd_number": 110887,
  "slug": "cumberland-investment-counsel-inc-toronto-ontario-110887",
  "primary_business_name": "CUMBERLAND INVESTMENT COUNSEL INC.",
  "legal_name": "CUMBERLAND INVESTMENT COUNSEL INC.",
  "dbas": [
    "CONSEILLERS EN PLACEMENT CUMBERLAND",
    "CUMBERLAND",
    "CUMBERLAND INVESTMENT COUNSEL",
    "CUMBERLAND PRIVATE WEALTH",
    "PATRIMOINE PRIVE CUMBERLAND"
  ],
  "city": "Toronto Ontario",
  "state": null,
  "country": "Canada",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1992-04-28",
  "years_registered": 34,
  "period": "2026-10-01",
  "filing_date": "2026-09-29",
  "carried_forward": false,
  "raum_total": 1405771456.0,
  "raum_discretionary": 1405771456.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 19,
  "advisory_employees": 16,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 3294096.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 38807020.0,
      "count": 23
    },
    "banking_thrift": {
      "raum": null,
      "count": 0
    },
    "state_municipal": {
      "raum": null,
      "count": 0
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": null,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": null,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 31687525.0,
      "count": 12
    },
    "pooled_investment_vehicles": {
      "raum": 1328131003.0,
      "count": 10
    },
    "corporations_other_businesses": {
      "raum": 3851812.0,
      "count": 2,
      "fewer_than_5": true
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [],
  "websites": [
    "https://cumberlandcounsel.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110887",
  "disclosure_items": [
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    }
  ],
  "city_as_filed": "TORONTO ONTARIO",
  "url": "https://advisorcensus.com/firm/cumberland-investment-counsel-inc-toronto-ontario-110887",
  "display_name": "Cumberland Investment Counsel Inc.",
  "summary": "Cumberland Investment Counsel Inc. is an SEC-registered investment advisory firm in Toronto Ontario, Canada, registered since 1992, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.",
  "citation": "AdvisorCensus. Cumberland Investment Counsel Inc. (CRD 110887): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Cumberland Investment Counsel Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Cumberland Investment Counsel Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is Cumberland Investment Counsel Inc. located?",
      "a": "Cumberland Investment Counsel Inc.'s principal office is in Toronto Ontario, Canada, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Cumberland Investment Counsel Inc. registered with the SEC or a state?",
      "a": "Cumberland Investment Counsel Inc. is an SEC-registered investment advisory firm, registered since 1992. Status as filed: Approved. CRD 110887."
    },
    {
      "q": "How much does Cumberland Investment Counsel Inc. manage?",
      "a": "Cumberland Investment Counsel Inc. reports $1,405,771,456 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (100% discretionary)."
    },
    {
      "q": "How have Cumberland Investment Counsel Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Cumberland Investment Counsel Inc.: Regulatory assets under management: $930,255,823 in the October 2021 data and $1,405,771,456 in the October 2026 data, up 51%. Total employees: 19 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Cumberland Investment Counsel Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (23); high net worth individuals (12); pooled investment vehicles (other than investment companies and business development companies) (10)."
    },
    {
      "q": "Which custodians does Cumberland Investment Counsel Inc. use?",
      "a": "Cumberland Investment Counsel Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and National Bank Financial Inc. as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Cumberland Investment Counsel Inc. report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110887"
    },
    {
      "q": "Does Cumberland Investment Counsel Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated August 13, 2026 says: \"The minimum investment required to establish a client relationship is $1M. Under certain circumstances we may accept a lower minimum investment, subject to management review & approval on a case-by-case basis.\""
    },
    {
      "q": "What changed in Cumberland Investment Counsel Inc.'s recent Form ADV filings?",
      "a": "In the September 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 930255823.0,
      "total_employees": 19,
      "filing_date": "2021-05-25"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1116641922.0,
      "total_employees": 23,
      "filing_date": "2022-07-07"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 880918248.0,
      "total_employees": 21,
      "filing_date": "2023-09-15"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1011784499.0,
      "total_employees": 21,
      "filing_date": "2023-12-21"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1272160433.0,
      "total_employees": 20,
      "filing_date": "2025-04-11"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1405771456.0,
      "total_employees": 19,
      "filing_date": "2026-09-29"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-09-01",
      "period_label": "September 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer lists the business name Patrimoine Privé Cumberland.",
        "Added the business name Patrimoine Prive Cumberland.",
        "Employees performing advisory functions went from 17 to 16.",
        "Regulatory assets under management went from $1,272,160,433 to $1,405,771,456 (+11%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated August 13, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000"
        ],
        "quotes": [
          "The minimum investment required to establish a client relationship is $1M. Under certain circumstances we may accept a lower minimum investment, subject to management review & approval on a case-by-case basis."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "The minimum investment required to establish a client relationship is $1M. Under certain circumstances we may accept a lower minimum investment, subject to management review & approval on a case-by-case basis."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "National Bank Financial Inc.",
      "name_as_filed": "NATIONAL BANK FINANCIAL INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/cumberland-investment-counsel-inc-toronto-ontario-110887.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 23,
      "fewer_than_5": false,
      "raum": 38807020.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 12,
      "fewer_than_5": false,
      "raum": 31687525.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 10,
      "fewer_than_5": false,
      "raum": 1328131003.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 3294096.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 2,
      "fewer_than_5": true,
      "raum": 3851812.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/110887",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}