Harness Investment Management

What Harness Investment Management does

Harness Investment Management Inc. is a Toronto-based discretionary portfolio management firm registered as a Portfolio Manager and Exempt Market Dealer across all Canadian provinces and territories, with the Ontario Securities Commission as primary regulator. Founded in 2019 and operating as part of the Purpose Unlimited Inc. corporate group (alongside Foundation Wealth Partners, Purpose Investments, Steadyhand, and Advisor Solutions by Purpose), Harness serves individual Canadian households through a dual-tier service model. Digital Services targets households with $50,000-$250,000 in investable assets via online KYC questionnaires, model portfolios built from ETFs and mutual funds, and a self-service client portal with 24/7 account access; Investment Counselling Services (ICS) targets households with $250,000 and above, providing dedicated Portfolio Managers, personalized Investment Policy Statements, and access to alternatives and private assets through Focused Strategies. A High Interest Savings Account is also offered to all clients.

The firm earns revenue through asset-based management fees calculated monthly on average net asset value, paid monthly in arrears under a tiered structure that reduces as household assets cross thresholds. Sub-advisory relationships with Forststrong Global, Cardinal Capital Management, Purpose Investments, Lionridge Capital Management, and BCV Asset Management supply the underlying investment strategies, while two custodians, Fidelity Clearing Canada and Canaccord Genuity Corp., hold client assets and provide trade execution and CIPF coverage. Distribution combines direct digital acquisition with a referral network of over 150 wealth advisor partnerships across Canada operating under Shared Services Agreements, and marketing is supported through a content blog, LinkedIn presence, and email newsletters.

Operationally Harness runs on a lean 1-10 employee base, relying on the shared services of its Purpose Unlimited affiliates for technology, human resources, client support, and product development. AI tools are deployed as decision-support for internal research, product development, and the drafting of client communications, with no autonomous investment decisioning disclosed. The platform includes a multi-dimensional proprietary risk assessment tool combining KYC and KYP frameworks, and the firm holds Portfolio Management Association of Canada (PMAC) membership since inception, serving over 6,000 Canadian households to date.

Name

Harness Investment Management

Legal name

Harness Investment Management Inc.

Website

https://harnessinvest.ca

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Harness Investment Management is a Toronto-based Canadian discretionary portfolio manager serving 6,000+ individual households through a Digital tier ($50K-$250K) and an Investment Counselling Services tier ($250K+), curating sub-advised model portfolios via five institutional partners and distributing through 150+ wealth advisor referrals within the Purpose Unlimited Inc. group.

Ownership category

akta.pro rank

Product category

Investment Management Services

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Discretionary Portfolio Management (Retail) (FSAAAAAH)

akta.pro secondary industries

Model Portfolio & Portfolio Construction Engines (FSAGAEAD), Target-Risk / Risk-Profile Model Portfolios (FSAAAJAD), Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)

Keywords

• Discretionary portfolio management
• Investment counselling services
• Wealth management platform
• Model portfolio solutions
• Advisor referral network

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset-based Management Fees: Harness charges monthly fees calculated based on the average net asset value of client accounts at the end of each day, paid monthly in arrears. The firm employs a tiered fee structure that provides reduced rates for household assets surpassing predefined thresholds.
2. Wealth Advisor Fees: Fees collected on behalf of wealth advisors per client service agreements, deducted from client accounts and remitted to advisors for financial planning and non-securities related services.
3. Sub-Adviser Fees: Fees paid to third-party sub-advisers managing model portfolios, deducted from client accounts based on assets under management with specific sub-adviser fee schedules varying by investment manager.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Harness Investment Management provides discretionary portfolio management and investment counselling services to Canadian individual investors through two channels: a Digital Services platform (for households with $50,000-$250,000) using online questionnaires and ETF-based model portfolios, and Investment Counselling Services (ICS) for households with $250,000 and above, offering one-on-one portfolio manager relationships with access to mutual funds, alternative investments, and private assets. Curated model portfolios are sourced from a network of institutional sub-advisers including Forststrong Global, Cardinal Capital Management, Purpose Investments, Lionridge Capital Management, and BCV Asset Management.

Product overview

Harness Investment Management is an investment counselling and portfolio management firm that offers two primary service channels: Digital Services for clients with $50,000-$250,000 in household assets, providing ETF-based model portfolios through an online platform; and Investment Counselling Services (ICS) for clients with $250,000+, offering personalized portfolio management with access to mutual funds, alternative investments, and private assets. The firm curates core strategies (ETF/mutual fund portfolios from sub-advisers) and focused strategies (alternative/private assets for ICS clients). Sub-adviser partners include Forststrong Global, Cardinal Capital Management, Purpose Investments, Lionridge Capital Management, and BCV Asset Management. A High Interest Savings Account is available to all clients. The firm operates as part of the Purpose Unlimited Inc. corporate group.

Differentiator

Problem solved

Functional benefit

Products and services

• Harness Digital Services

Quantifiable outcome

• 6,000+ Canadian clients served
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability2 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Forststrong GlobalcoreStrategic or Co-development PartnerAsset management partner providing curated investment strategies to Harness clients through sub-advisory arrangement.
• Cardinal Capital ManagementcoreStrategic or Co-development PartnerAsset management partner offering investment solutions integrated into Harness curated investment strategies.
• Purpose InvestmentscoreStrategic or Co-development PartnerAffiliate investment fund manager providing access to institutional-quality investment funds and strategies. Purpose acts as investment fund manager and portfolio manager of mutual funds and ETFs.
• Lionridge Capital ManagementcoreStrategic or Co-development PartnerAsset management partner contributing investment expertise to Harness curated strategy offerings.
• BCV Asset ManagementcoreStrategic or Co-development PartnerAsset management partner providing investment strategies as part of Harness curated investment solutions.
• Canaccord Genuity Corp.coreOthersCustodian for client accounts, providing securities safekeeping, trade execution, and clearing services. Canadian wealth management division of Canaccord Genuity Group Inc.
• Fidelity Clearing CanadacoreOthersPrimary custodian for client accounts. Member of IIROC and CIPF, providing account protection up to $1,000,000 against insolvency. Located at 483 Bay Street, South Tower, Suite 200, Toronto, ON.
• Foundation Wealth Partners LPminorOthersAffiliated entity registered as Portfolio Manager & Exempt Market Dealer, part of Purpose Unlimited Inc. corporate group.
• Steadyhand Investment Funds Inc.minorOthersAffiliated Mutual Fund Dealer registered with CIRO, focused on distribution and sale of mutual fund units. Part of Purpose Unlimited Inc. corporate group.
• Advisor Solutions by PurposeminorOthersService provider delivering shared services to affiliates including technology, client support, human resources, and product development under Master Services Agreement.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Modern Advisor: Canadian online portfolio manager serving individuals with model-portfolio solutions across multiple custodians. Closely comparable to Harness on technology-led delivery and mass-affluent target market.
• Wealthsimple: Canada's largest digital wealth platform offering automated and advised portfolio management to mass-affluent and HNW clients. Directly comparable to Harness's Digital and ICS channels on target customer, fee model, and technology-enabled delivery.
• Questwealth Portfolios (Questrade): Canadian robo-advisor and managed portfolio service from Questrade targeting mass-affluent investors with discretionary ETF-based portfolios. Closely comparable to Harness's Digital Services channel on product, pricing model, and customer segment.
• Justwealth: Canadian digital wealth management firm offering model portfolio and managed account solutions to retail clients. Comparable to Harness's Digital Services in target market and product structure.

Others

• Purpose Investments: Affiliated investment fund manager within Purpose Unlimited Inc. providing ETFs and mutual funds used as building blocks in Harness's model portfolios. Related as both a strategic supplier and intra-group affiliate rather than a direct competitor.

Broad incumbents

• CI Direct Investing / CI Assante Wealth: CI Financial's wealth platforms offer discretionary portfolio management across mass-affluent and HNW segments in Canada. Comparable as a broad incumbent serving overlapping customer segments with both advised and direct investing solutions.
• BMO Nesbitt Burns / BMO Wealth: BMO's wealth management business providing full-service advisory and portfolio management to Canadian households. Comparable to Harness as a broad incumbent competitor across both mass-affluent and HNW segments.
• RBC Phillips, Hager & North: RBC's HNW investment counselling arm offering discretionary portfolio management to affluent Canadian households. Comparable to Harness's ICS tier on service model and target client, though embedded within a major bank's wealth ecosystem.
• TD Wealth: TD's wealth management division providing advised and discretionary portfolio services to Canadian households across wealth tiers. Comparable as a broad incumbent across both digital and high-touch channels.
• IG Wealth Management (IGM Financial): One of Canada's largest wealth management firms with a national advisor network and managed solutions. Comparable to Harness's ICS and advisor-channel model, though at significantly greater scale and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/harness-investment-management

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harness Investment Management