Compliance & Ethics

  • strict warning: Redefining already defined constructor for class JObject in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/libs/object.php on line 57.
  • strict warning: Declaration of T3Params::set() should be compatible with JObject::set($property, $value = NULL) in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/params.php on line 100.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 4.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 6.
  • strict warning: Non-static method T3Xml::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 7.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 27.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 28.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 29.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 30.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 4.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 6.
  • strict warning: Non-static method T3Xml::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 7.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 27.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 28.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 29.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 30.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 38.
  • strict warning: Non-static method T3Path::addPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 38.
  • strict warning: Non-static method T3Path::getPaths() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 48.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getNodeTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 255.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 210.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • strict warning: Non-static method T3Util::getDevice() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 131.
  • strict warning: Non-static method T3Params::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/util.php on line 114.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 132.
  • strict warning: Non-static method T3Xml::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 323.
  • strict warning: Non-static method T3Path::getLayout() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 324.
  • strict warning: Non-static method T3Util::getDevice() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 161.
  • strict warning: Non-static method T3Params::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/util.php on line 114.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 165.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Xml::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 323.
  • strict warning: Non-static method T3Path::getLayout() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 324.
  • strict warning: Non-static method T3Util::getDevice() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 161.
  • strict warning: Non-static method T3Params::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/util.php on line 114.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 165.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 155.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 156.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 84.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 155.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 156.
  • strict warning: Non-static method T3Profile::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 226.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#style' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 154.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 155.
  • warning: Illegal string offset '#children' in /home/birchlea/public_html/sites/all/themes/engines/joomlart/libraries/t3.php on line 156.
  • strict warning: Non-static method T3Path::getBlockTpl() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/joomlart.engine on line 249.
  • strict warning: Non-static method T3Path::getPath() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 195.
  • strict warning: Non-static method T3Cache::getInstance() should not be called statically in /home/birchlea/public_html/sites/all/themes/engines/joomlart/core/path.php on line 87.

Staff Compliance/Fairness Policy:

We abide by the Code of Ethics and Standards of Practice as laid out by the CFA Institute.  We treat all clients fairly when disseminating investment recommendations, disseminating material changes in prior investment advice and taking investment action.  We conduct ourselves in such a manner that transactions for all customers and clients have priority over personal transactions.

To eliminate all conflicts of interest, employees of BirchLeaf Investments Inc. are prohibited from investing in the same companies as our clients.

Clients Compliance/Allocation Policy:

BirchLeaf Investments Inc.’s Policy for the allocation of investments is as follows:

The trading policy is an integral part of the portfolio investment management function.  Its objective is to obtain the best possible price for every transaction, minimize overall trading costs and treat every client account fairly regardless of asset size.

No preferential treatment will be given to any client over any other client when transactions are made on behalf of clients with appropriate investment objectives.

Transactions are initiated by client contributions or instructed withdrawals, changes in portfolio asset mix, adding or eliminating a particular security, increasing or decreasing the weight of a particular holding.

Fully and partially completed transactions for the same security, including allotments of new issues and secondary offerings, combined for two or more clients are allocated proportionally based on the concurrent market values of participating portfolios net of commissions if any, subject to adjustments as reasonably required to achieve a minimum size of holding necessary to justify holding the security in an account or to maintain efficient trading units.

If the client elects to direct BirchLeaf Investments Inc. to perform an investment transaction(s) that is outside of the product offerings, in acting pursuant to any such direction, BLI shall be released from any responsibility with respect to such transaction(s) and you shall assume full responsibility for the result of any such transaction(s).

BirchLeaf Investments Inc. will maintain complete and accurate trading records including those for combined transactions.  All of the staff of BirchLeaf Investments Inc. will be ensuring full compliance with this policy.

Last updated on Fri, 02/25/2011 - 11:04