An investment counsellor is an independent adviser with no business associations that could prejudice their opinions or decisions nor do they engage in activities which might influence their ability to render unbiased investment advice. They are permitted to offer discretionary investment management services due to their high level of education, experience and registration requirements. In the ongoing effort to directly align the investment counsellors interests with that of the investors; the compensation for investment management services is based solely on a fee-based remuneration rather than the transactional or commission-based approach widely used in the investment industry.

Historically, the profession originated in the pension fund industry. Today, individuals, companies, trusts, estates, pension funds, and foundations use the services of investment counsellors. Portfolio managers in these firms abide by a strict code of ethics and standards of professional conduct administered by Association of Investment Management and Research (AIMR), a highly respected international organization. Furthermore, most hold the Chartered Financial Analyst (CFA) designation - recognized around the world as the highest standard of education in the investment management industry.

Watson Di Primio Steel (WDS) Investment Management Ltd. is also a member of the Investment Counsel Association of Canada (ICAC).

ICAC is the representative organization for Investment Counsel and Portfolio Managers in Canada. Member firms are only in the business of managing investments for clients in keeping with each client's needs and objectives and risk tolerance. The Mission of the association is "To advocate the highest standards of unbiased portfolio management in the interest of investors served by Members"