# GFI Investment Counsel

> GFI Investment Counsel is an SEC-registered investment advisory firm in Toronto, Ontario, Canada, registered since 2024, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 1, 2026.

- CRD: 332720
- Filed as: GFI INVESTMENT COUNSEL
- Legal name: GFI Investment Counsel Ltd.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Toronto, Ontario, Canada
- Filing period: October 2026
- Form ADV filing dated: September 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/332720
- AdvisorCensus page: https://advisorcensus.com/firm/gfi-investment-counsel-toronto-ontario-332720

## Quick answers

**How is GFI Investment Counsel compensated?**
On its Form ADV (Item 5.E, October 2026), GFI Investment Counsel reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does GFI Investment Counsel charge?**
Its Form ADV Part 2A brochure dated March 11, 2026 states: Up to $2,000,000: 1.35% a year; $2,000,000 to $5,000,000: 1% a year; $5,000,000 to $20,000,000: 0.75% a year; Above $20,000,000: 0.6% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is GFI Investment Counsel located?**
GFI Investment Counsel's principal office is in Toronto, Ontario, Canada, according to its Form ADV.

**Is GFI Investment Counsel registered with the SEC or a state?**
GFI Investment Counsel is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 332720.

**How much does GFI Investment Counsel manage?**
GFI Investment Counsel reports $1,754,256,168 in regulatory assets under management in its Form ADV filing dated September 1, 2026 (88% discretionary).

**How have GFI Investment Counsel's assets and staff changed since 2025?**
In the Form ADV data for GFI Investment Counsel: Regulatory assets under management: $1,621,126,057 in the October 2025 data and $1,754,256,168 in the October 2026 data, up 8%. Total employees: 18 in October 2025 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does GFI Investment Counsel serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (537); corporations or other businesses not listed above (293); high net worth individuals (222).

**Which custodians does GFI Investment Counsel use?**
GFI Investment Counsel's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Bank Independent Network as a custodian holding 10% or more of its separately managed account assets.

**Does GFI Investment Counsel report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/332720

**What changed in GFI Investment Counsel's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 11, 2026)

- Up to $2,000,000: 1.35% a year
- $2,000,000 to $5,000,000: 1% a year
- $5,000,000 to $20,000,000: 0.75% a year
- Above $20,000,000: 0.6% a year

> The following fee schedule is generally used to calculate the amount of the investment management fee: Size of Account Management Fee* First $2,000,000 1.35% Next $2,000,000 to $5,000,000 1.00% Next $5,000,000 to $20,000,000 0.75% Over $20,000,000 0.60%

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- National Bank Independent Network

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.

### Regulatory assets under management (Item 5.F)
- Total: $1,754,256,168
- Discretionary: $1,544,838,943
- Non-discretionary: $209,417,225

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 537 | $109,593,948 |
| High net worth individuals | 222 | $556,675,671 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $154,497,549 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $781,995 |
| Charitable organizations | 5 | $21,665,598 |
| Corporations or other businesses not listed above | 293 | $911,041,407 |

### Advisory services (Item 5.G)
- Financial planning services
- 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

### Firm details
- Registered since: 2024 (1 year)
- Employees: 20 total, 7 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [gfiic.com](https://gfiic.com)
- LinkedIn @gfi-investment-counsel-ltd-
- X @GFI_IC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $1,621,126,057 | 18 | March 5, 2025 |
| October 2026 | $1,754,256,168 | 20 | September 1, 2026 |

Regulatory assets under management: $1,621,126,057 in the October 2025 data and $1,754,256,168 in the October 2026 data, up 8%.
Total employees: 18 in October 2025 and 20 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. GFI Investment Counsel (CRD 332720): Form ADV filing data as of October 2026.