PART OF THE INTELLIGENT INVESTING SYSTEM
An active decision system that places each order on the record before the outcome, and preserves what changed afterward. Without the reasoning, the outcome teaches nothing.
A licensed Canadian brokerage · regulated by CIRO · CIPF member
Before an active order, the position is classified, its role and size are set, and you state your probability of clearing your hurdle. The investment case can be added later, and when it is, it carries the date it was written, not the date of the order. The system does not invent a history you did not create.
The case states what would prove it wrong. Once sealed, it locks. Editing creates a new version. The original is never overwritten.
You will read it later and disagree with yourself. That is the record working.
VIEW MOREVIEW THE FULL MEMO+Specimen. The structure is the product's.
The position and the figures are illustrative, not a security, a recommendation, or a client record.
Every position is measured against the S&P 500, dollar for dollar, the same capital over the same period. The gap is shown plainly, including when negative.
Every holding has a Position Page: your record, your reviews, performance, research, news, and full history. Names you are still considering are staged before capital is committed. Each position is open, measured, and accountable to the record that opened it.
Your portfolio, CAD
The same capital, in the index
The difference, shown plainly
Illustrative. The benchmark block as it appears on every account.
Writing it is the first pass. As the thesis is tested it is revised, version by version, and every capital decision answers to the record, never the other way around.
Record
The first time, you fill out the record: classification, sizing, confidence, idea origin, and the investment case.
Review
As the thesis is tested, you revise it section by section. Each revision becomes a new version. The new version is dated. The previous version remains.
Capital decision
Your decision to initiate, increase, or reduce always follows the record, never the other way around.
Every allocator carries a private conviction about how often they are right. Almost none has ever measured it. The number is almost always worse than the belief.
Each decision is recorded as a probability against a horizon, then scored against what occurred. As horizons close, stated probabilities and actual outcomes become comparable. Outcome and decision quality begin to separate. The record does not care what you believed.
A sound decision can lose. A reckless one can pay off. The outcome alone never tells you which you made.
There are only two kinds of allocators: those who have been humbled, and those who are about to be. The only question is what happens next.
Every sealed forecast — the append-only ledger. A sale, a re-underwrite, or a killed thesis each gets its own status; nothing is ever overwritten.
Illustrative. A calibration record, summarised.
you said
reality
overconfident, on the record
The record, the benchmark, the review, and the score are not features. They are training. What they develop is specific: calibration, probabilistic reasoning, position sizing, updating when the evidence changes, learning from error, decision quality.
The system does not try to improve your outcomes. It tries to improve the decision-maker. Outcomes are downstream.
We promise no outcome. We hold one belief: people who consistently make higher-quality allocation decisions tend to achieve better long-term outcomes. Not always. Not immediately. But over time.
A rigorous record may teach some investors that most of their capital belongs in the default. That is not failure. That is the system working. The highest expression of allocation is knowing when you can beat the market, and when you cannot.
Every membership includes access to Fiscal.ai Max, a professional-grade research and analysis environment. Most investors trade on price and headlines. Serious investors analyse businesses.
Research supplies evidence. Judgment remains yours. It is not a stock picker, a signal engine, or a shortcut. It does not make the decision, assign the probability, or absorb the consequence.
The firm does not tell you what to buy or sell. Self-Directed is order-execution only; the judgment, and its record, are yours.
No streaks, no badges, no confetti, no notifications engineered to make you trade. Nothing on the platform is optimized for activity.
Nothing is rewritten, nothing is deleted, nothing is polished. The version you were wrong in stays in the file.
Each of these costs us growth. That is why you can believe them.
Tax-free
Growth and withdrawals are completely tax-free, within an annual contribution limit that carries forward when unused. The most flexible registered account, with no tax on what compounds inside it.
2025 contribution limit: $7,000
Tax-deferred
Contributions reduce your taxable income now, and investment growth is deferred until you withdraw, usually in retirement when your marginal rate is lower. Built for long-horizon, tax-aware compounding.
2025 contribution limit: $32,490
Taxable
No contribution limit and no withdrawal restrictions, but investment income and capital gains are taxed each year. Typically used once your registered accounts are fully funded.
No contribution limit
Money buys access, information, and tools this afternoon. It cannot buy ten years of dated decisions, revised cases, recorded mistakes, and measured outcomes. The only way to have a ten-year record in 2036 is to begin it now.
Within your first week: an account, a benchmark, and your first decision on the record. We commit to the process. We never promise the return.
One $20/month membership includes access to Managed, Self-Directed, and Fiscal.ai Max.
Managed assets carry an additional 0.10% fee.
A licensed Canadian brokerage.
Client assets are held separately by the custodian.
CIRO regulated investment dealer · CIPF coverage applies to insolvency, not to investment losses · Client assets held separately · Orion Digital Corp., NASDAQ & TSX: ORIO