TWST: Please begin with a brief history and an overview of your firm.

Mr. Majendie: We call ourselves Majendie Wealth Management. We are part of the Scotiabank Group. The individual investment dealer subsidiary that we work with is ScotiaMcLeod. Scotiabank is one of the top 25 banks in the world if you look at it from the safety point of view. It's a substantial firm. We run chiefly private client money at Majendie Wealth Management, as well as some foundations, trusts and small pension funds. We're totally Canadian managers, so we don't invest outside of Canada. We have six different portfolios. These run the spectrum of risk/reward or a range of risk/reward from the extremely conservative to reasonably conservative. We set longer-term return targets; these would be pre-fee annual return targets for each of these portfolios, and what we think the risk level of these portfolios will be, or certainly has been over the last number of years. We find it's very helpful to clients to talk about risk/reward, but always in relationship to risk - the higher the reward, the greater the risk. We deal in the very conservative end of the spectrum. Thus, on the equity side, for our universe we use 70-odd companies, which are basically the TSX 60, the largest blue chips in Canada, plus 10 or 15 for diversification sake. On the fixed income side, we use investment-grade bonds, whether they be government or corporate. So it's the high-quality end of the conservative investment spectrum.

TWST: How would you describe your overall investment strategy and philosophy?