I would like to thank the community, colleagues, clients and friends for their overwhelming support the past week in response to the articles that were published about me in the Salmon Arm Observer and on Castanet.
I was in fact penalized by the Mutual Fund Dealers Association (MDFA) earlier this year as a result of an investigation that I personally brought to the regulators attention.
Basically, I gave an opinion on a security that I was not licensed to sell which contravened my registration capacity. This penalty was issued in July 2016 for an infraction that happened in 2012. I have no plans, ever, to get re-licensed with the MFDA as I resigned from the MFDA in July 2014 completely unrelated to this incident because I wanted to provide a more comprehensive product offering for my clients.
Since that time I have been working as an analyst on a discretionary platform with the long term goal of becoming a portfolio manager – the highest level of education and experience in the investment industry.
I am well on my way to achieving that goal and should be a portfolio manager in 2018 according to my recent discussions with the BC Securities Commission.
Mushaluk Financial has grown by roughly 50 per cent since I became the subject of an investigation and continues to grow locally and throughout Western Canada as I work with a team of portfolio managers on a referral basis.
I continue to educate myself with advanced portfolio management courses, technical analysis training, and compliance all with the intent to offer better service and results for my clients.
I’d like to take this opportunity to again thank all of my clients reading this for their continued loyal support and for those of you who asked me for my side of the story.
Jeffrey Dean Mushaluk