About

Thornmark is a tactical investment specialist with the experience and investment results investors deserve.

Many investment managers invest strategically, passively maintaining an idle investment strategy, unfortunately subjecting people to scary and painful losses. Tactical investing at Thornmark is designed to deliver what all clients desire – growth when economies expand and protection during contractions. We do this by dynamically adjusting investment risk up or down as economic and market conditions change.

With a track record commencing in 1993, we’ve navigated some of the worst market declines since the Great Depression. As shown here, the Thornmark Investment Funds’ Consolidated Performance is more than 11% better than the S&P/TSX Composite Index and its Consolidated Benchmark over more than 25-years.*

Investing without a plan is random, leading to uncertainty. Therefore, Thornmark provides complimentary Wealth Management Planning for clients with investments of greater than $3 million. Coordinated wealth planning helps clients capitalize on overlooked opportunities, building brighter financial futures. We’ve helped clients significantly increase their projected lifetime net worth with disciplined planning designed to augment the value of prudent investing.

Daniel BainCEO & Chief Investment Officer

Areas of Focus:

Business Management
Portfolio Strategy
Relationship Management
Wealth Management Planning

Daniel is Thornmark’s founder, an economist by training and a practitioner of tactical investing. In the early 1990’s, he developed Thornmark’s investment philosophy that captures the value of economic and market analysis through tactical investment management.

After identifying fundamental investment opportunities resulting from the 1998 LTCM default, the 2000 Tech Wreck, Canada’s 2006 income trust taxation flip-flop, the 2008 Credit Crisis, the March 2009 economic and market recovery, and having navigated the 2020 Pandemic Plunge, Daniel is regularly sought out by media looking for economic and financial market insight.

Ari Black, CFAPortfolio Manager

Areas of Focus:

Portfolio Management
Security Analysis

Ari is a member of Thornmark’s portfolio management team, responsible for North American equity security analysis, selection and optimization. Prior to joining Thornmark in 2012, Ari gained valuable experience as an Equity Research Analyst at Scotiabank, working on the $6 billion Dynamic Core Equity group of funds. Before that, Ari distinguished himself as one of the youngest sell-side Research Analysts for Stifel Financial. Covering Special Situation, Ari spent four years working with a top-ranked equity analyst.

Ari holds an HBA degree from the Richard Ivey School of Business at the University of Western Ontario and is a CFA^® Charterholder.

Our Clients

Thornmark invests for individuals, family offices, foundations, and institutions in select Canadian provinces. The firm is a nimble asset manager with a history of consistency, attention to personal service, and a long-term commitment to helping clients meet their unique wealth management goals and objectives.

Personalized Service

Every person has unique goals and priorities. Thornmark works with clients to build personalized Wealth Management Plans. Realistic and achievable plans allow clients to sleep soundly with confidence in their financial outlook. Thornmark has relationships with tax, insurance, and legal experts to ensure a holistic approach to wealth planning and management. Consolidated household reporting provides comprehensive information to gauge performance and progress towards your goals.

Protecting Your Investments

Client assets are held by an independent third-party custodian (usually National Bank Independent Network). Thornmark never takes custody of client assets – clients do not write cheques to Thornmark. The Thornmark Investment Funds are audited by Deloitte LLP, a leading global audit company. Independence provided by segregation of client assets and audit accountability by a global leader provide a high level of security for your investments.