#230-1829 Beaufort Ave, Comox
250-890-2000
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250-890-2000

Overview

Business Model

DeLuca Veale is an independent fee-based portfolio management firm. We offer unbiased, objective advice to help our clients with their most important financial decisions. As a portfolio management firm, we have a fiduciary duty to our clients, and as such, we must put our clients’ interests first. It is important to recognize that we are neither employed nor compensated by any broker or third-party dealer. As a result, we are not incented to sell specific third-party investment products or mutual funds to our clients. Independence allows us to focus exclusively on our clients’ best interests without the need to consider other conflicted agendas.

Our company is built around a clientele that has accumulated $500,000 or more to invest. Our clients rely on us to build investment plans that will meet their needs for growth, income or both. To determine their needs accurately, we work through a personal evaluation of their objectives that will consider any other resources they may have, such as pensions or future inheritances, and which will contribute to their needs. Completing this exercise allows us to determine what role their investments must play in satisfying their overall requirements for income and growth. With a clear understanding of what their investments must achieve, we can then set their portfolio allocations and begin our investment work.

Managing investments is our daily responsibility. Our clients hold their stocks and bonds within a custodian account in their own name, with DeLuca Veale managing these holdings according to their objectives determined above. It is thus a very clean and unbundled manner in which our clients are invested. That is a key difference in dealing with a portfolio management firm and part of what our clients enjoy most about dealing with De Luca Veale: it is easy to see what you own and what is happening day-to-day for you and your investments.

We see our role as being a key contributor to our clients’ financial well-being, and as such, we have long wanted to offer more investment diversification to our clientele than what our industry typically brings to bare. To accomplish this goal, we have founded a real estate LP called RealStream™ Income Properties LP. This internally managed real estate investment is distributed by DeLuca Veale to those current and future clients looking for the added diversification of owning income-producing commercial real estate. RealStream™ will add value and stability to portfolios thanks to producing additional cash flow along with long-term capital growth.  Just as the name implies, ‘Real’ for real estate and ‘Stream’ for cash flow.

An important component of our business model since day one, is that we invest alongside our clients. We strongly believe we have created the right team and the right process for creating and managing long-term wealth and to keep our own best interests fully aligned with our clients, we personally invest in what they are invested in.

Our clients tell us time and again that they choose our firm because they want a personal relationship with the professionals managing their portfolio. Interactions with our firm involve dealing with someone who knows them and understands their personal needs. Our clients recognize the value in a personal relationship with the people they are dealing with and how this makes dealing with financial professionals easier and less stressful. They are much more than ‘another customer’ to our firm, and as such, we make the time to properly serve them.

While service is a key component of what we offer, the investments are what we as portfolio managers spend our time tending to the most. Prudent management of the investment portfolios we construct is the only way we can satisfy the demands we put on ourselves and the financial expectations of our clients.

We firmly believe investors are better served when they are aware of specifically who is managing their portfolio as well as what they are invested in. As a result, our clients are invested in unbundled portfolios that allow them to clearly see what they own. This awareness gives them the opportunity to learn from us why they own it, and if they wish, to ask not to own a specific investment that they may prefer not to hold for any reason. This education and awareness also gives them confidence and clarity, which is particularly valuable in periods of negative market returns.

Our specific investment models put the shares of some of the best and most profitable businesses in the world directly into our client’s portfolios. Wherever possible we keep investment decisions with our own portfolio managers in order to avoid any added management fees. We may, however, use a third-party manager or Exchange Traded Fund (ETF) from time to time to invest into specialty markets such as international or small cap.

As portfolio managers, both Mr. Veale and Mr. DeLuca believe that diversification is the secret to successful investing. Up until now, DeLuca Veale has been like most of its peers: only able to offer publicly traded stocks, bonds and REITs. While publicly traded securities have served clients well over the years, these markets have all suffered from higher levels of volatility than we and our clients would like to see. To reduce this portfolio volatility and create another investment vehicle to build wealth and income for investors, DeLuca Veale created RealStream™ Income Properties LP, a private real estate limited partnership built to acquire, manage, lease, improve, operate and sell a portfolio of revenue producing properties—predominantly, properties here on Vancouver Island. In order to distribute this specific real estate investment to our clients, DeLuca Veale became registered as an Exempt Market Dealer (EMD) in addition to its long-standing registration as a portfolio manager in British Columbia and Alberta.
We believe in helping our clients proactively move toward their goals by making their money work for them. We also believe in building a plan to achieve those goals with them. We recognize that part of that plan needs to consider the risks of illness and death en route to achieving their goals. To fully serve our clientele, we offer both life and accident & sickness insurance as a value-added service. We are well suited to serve our clients insurance needs, as we are well-versed in their wishes, their personal circumstances as well as their family situations.
To support a growing business, the decision was made to purchase a new larger office space, and the company moved in 2013. Our firm is now located in the Comox Harbour Centre, a new office building constructed to LEED certified standards, overlooking the Comox Bay Marina.

This office expansion also provided the additional room needed to add the talented staff and management required to launch RealStream Income Properties.

Clients
Our clients tell us time and again that they choose our firm because they want a personal relationship with the professionals managing their portfolio. Interactions with our firm involve dealing with someone who knows them and understands their personal needs. Our clients recognize the value in a personal relationship with the people they are dealing with and how this makes dealing with financial professionals easier and less stressful. They are much more than ‘another customer’ to our firm, and as such, we make the time to properly serve them.

While service is a key component of what we offer, the investments are what we as portfolio managers spend our time tending to the most. Prudent management of the investment portfolios we construct is the only way we can satisfy the demands we put on ourselves and the financial expectations of our clients.

Portfolios
We firmly believe investors are better served when they are aware of specifically who is managing their portfolio as well as what they are invested in. As a result, our clients are invested in unbundled portfolios that allow them to clearly see what they own. This awareness gives them the opportunity to learn from us why they own it, and if they wish, to ask not to own a specific investment that they may prefer not to hold for any reason. This education and awareness also gives them confidence and clarity, which is particularly valuable in periods of negative market returns.

Our specific investment models put the shares of some of the best and most profitable businesses in the world directly into our client’s portfolios. Wherever possible we keep investment decisions with our own portfolio managers in order to avoid any added management fees. We may, however, use a third-party manager or Exchange Traded Fund (ETF) from time to time to invest into specialty markets such as international or small cap.

Real Estate Portfolio
As portfolio managers, both Mr. Veale and Mr. DeLuca believe that diversification is the secret to successful investing. Up until now, DeLuca Veale has been like most of its peers: only able to offer publicly traded stocks, bonds and REITs. While publicly traded securities have served clients well over the years, these markets have all suffered from higher levels of volatility than we and our clients would like to see. To reduce this portfolio volatility and create another investment vehicle to build wealth and income for investors, DeLuca Veale created RealStream™ Income Properties LP, a private real estate limited partnership built to acquire, manage, lease, improve, operate and sell a portfolio of revenue producing properties—predominantly, properties here on Vancouver Island. In order to distribute this specific real estate investment to our clients, DeLuca Veale became registered as an Exempt Market Dealer (EMD) in addition to its long-standing registration as a portfolio manager in British Columbia and Alberta.
Planning & Insurance Solution
We believe in helping our clients proactively move toward their goals by making their money work for them. We also believe in building a plan to achieve those goals with them. We recognize that part of that plan needs to consider the risks of illness and death en route to achieving their goals. To fully serve our clientele, we offer both life and accident & sickness insurance as a value-added service. We are well suited to serve our clients insurance needs, as we are well-versed in their wishes, their personal circumstances as well as their family situations.
Premises
To support a growing business, the decision was made to purchase a new larger office space, and the company moved in 2013. Our firm is now located in the Comox Harbour Centre, a new office building constructed to LEED certified standards, overlooking the Comox Bay Marina.

This office expansion also provided the additional room needed to add the talented staff and management required to launch RealStream Income Properties.

Richard DeLuca and Jonathan Veale

Portfolio Managers / Partners

The Portfolio Managers (PMs) are Richard DeLuca and Jonathan Veale, both of whom are the founders of the company. Mr. DeLuca and Mr. Veale, along with the firm itself, hold their licenses directly with the British Columbia Securities Commission (BCSC). Mr. Veale began his career in 1993 as an investment advisor, and Mr. DeLuca did the same in 2001. Between the two owners, they have been active in the investment management business for over 34 years.

Mr. DeLuca is a Commerce Program graduate from the University of Victoria and a designated Canadian Investment Manager. Mr. Veale is also a designated Canadian Investment Manager in addition to a CFA Charter Holder since the year 2000. DeLuca Veale, now in its ninth year of operations, is managed by its’ two founders.

James Stewart

Real Estate Asset Manager

Income producing real estate is a very attractive investment, but it requires a high degree of income knowledge and experience to invest successfully. To further the company’s expertise in Real Estate, Mr. DeLuca and Mc. Veale created a new partnership with Mr. James (Jim) Stewart.

DeLuca Veale Investment Counsel Inc. is registered with the BC Securities Commission as a Portfolio Manager and an Exempt Market Dealer, and is also registered as a Portfolio Manager and Exempt Market Dealer in the provinces of Alberta and Ontario.