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About Harbourfront Wealth ManagementHarbourfront Wealth Management is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net-worth clients. But if independent brokerages continue to grow, banks may see them as acquisition targets. She did just that, and 25 years later, Im able to say, with certainty, it was the best move I have ever made. Im not sure if its interesting or amusing, but certainly, a proud moment in my career is when my team and I had been working extensively with a client on her retirement plan. One of the perks of joining an advisor-owned firm albeit one that comes with risks is having skin in the game. Harbourfront is the ideal platform for Audax to support as the company executes on its aggressive growth plans in Canada.. About Harbourfront Wealth ManagementHarbourfront Wealth Management is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net-worth clients. Weve been very fortunate in that weve seen virtually no advisors leave us, said Mike Scott, senior vice-president and managing director with RBC Wealth Management. These individuals collectively have had a great impact on my personal life and professional career. Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? Thompson will directly oversee Business Development for Willoughby Asset Management, Harbourfront Wealths subsidiary under The Harbourfront Group. What are your thoughts about daytrading, using apps like Robinhood? It's the sort of town where you immediately feel you can relax and chill out, a little bit sleepy, a lot friendly. Can you share the lesson or takeaway you took out of that story? This is money that you can use when unforeseen circumstances or opportunities strike. This is an important question. VANCOUVER, British Columbia, May 30, 2022 (GLOBE NEWSWIRE) -- The Harbourfront Group of Companies ("The Harbourfront Group"), including Harbourfront Wealth Management Inc.. At least until recently, financial literacy was never taught in school and was something that many of us received far too late in our lives. Independent investment brokerages such as Vancouver-based Harbourfront Wealth Management Inc. and Winnipeg-based Wellington-Altus Private Wealth Inc. have wooed advisors from the banks with the promise of greater autonomy and an ownership stake in the business. Since its founding in 1999, the firm has raised over $30 billion in capital across its Private Equity and Private Debt businesses. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Find out what works well at Harbourfront Wealth Management from the people who know best. We wish you continued success! Non-integrated retail dealers share has grown to 20% from 15% over that period, with total AUA more than doubling to $705 billion in 2021 from $325 billion in 2015. Open an investment portfolio if you dont already have one. As I mentioned before, the data is in, adding private alternative investments as part of a portfolio likely reduces market correlation and risk without sacrificing return over time. Any asset not part of the conventional classes is referred to as an alternative investment or alts. Alternative investments include assets such as real estate, infrastructure, private equity, venture capital, hedge funds, private debt, and more. Founded in 2013, Harbourfront is headquartered in Vancouver, BC and has a rapidly growing branch network of more than 20 branches across Canada. The company is headquartered in Vancouver, BC, and has a rapidly growing network of 23 branches across Canada. Adoption amongst various regulators around the globe is taking place, and many financial institutions are jumping on board. In less than five years and over the course of the pandemic, Ive grown my wealth management business 3x, and Ive led the growth of these private pools to over $1 billion in AUM. Financial advisor-owned brokerages have been successful in recruiting talent from bank-owned dealers in recent years but banks dont seem to be sweating the competition. Subscribe now to read the latest news in your city and across Canada. While running his successful real estate and media businesses, Jason also believes that giving back to the community plays an important role in building strong personal relationships. Now there are over a billion in AUM, with thousands of households as investors. Harbourfront Wealth Management | Source: Then shortly after, she became pregnant and decided not to move forward with it. Meet the Harbourfront Wealth Management leadership team thathas steered us to the forefront of the industry. The firm specializes in financial planning, investment management, retirement planning, insurance planning, business financial planning, and more. The Company has earned its reputation as one of the leading independent advisory firms in Canada for both advisors and clients alike by combining a best-in-class team with the highest quality service level and product offering. 8 Benefits -- Photos 5 Diversity + Add a Review Harbourfront Wealth Management Overview Work Here? Titanbay operates as an investment platform that enables institutional and private investors to invest in private equity, venture capital, and real estate funds. Harbourfront Group of Companies Reports 2nd Quarter 2021 - GlobeNewswire Were all familiar with traditional asset classes, like publicly traded stocks and fixed income, but there is a world beyond that. Travis Forman is a Portfolio Manager at Harbourfront Wealth Management and the Practice Owner of Strategic Private Wealth Counsel (SPWC). Raymond James Ltd. is serving as financial advisor and Fasken Martineau DuMoulin LLP is serving as legal counsel to Harbourfront. Compare pay for popular roles and read about the team's work-life balance. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. After a while, it becomes formulaic. Seek advice from a financial advisor/portfolio manager. However, I cant lead with information on alternatives in my materials as most Canadians still dont know what private investments are even, despite the fact that institutional investors like the Canadian Pension Plan have been investing in them for decades. We reviewed drawdown simulations and tax minimization strategies more times than usual. For example, at the start of my career, I was invited to participate in programs to help push the financial literacy needle forward. Very proud to feel that I was part of an early movement that is becoming mainstream. 604-558-6830 /1 (877)588-6822. washton@harbourfrontwealth.com. With more than 300 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. I think its healthy to have strong independents as part of the wealth management landscape across Canada, Lemay said. For example, I am a huge believer in private alternative investments. Its platform connects investment advisors to managers and a full suite of alternative asset tools to help attract clients, boost revenue, and ensure that their clients are able to access private investment opportunities. If the banks have too much market share, its not healthy you need strong independents.. Banks AUA still dwarfs the assets accumulated by advisor-owned independents and not all banks have been losing advisors to independents. Danny Popescu - Chief Executive Officer - Harbourfront Wealth Lynk connects investors with investment strategies via a digital marketplace. I worked with a few firms before joining Harbourfront Wealth Management, which I joined in 2016. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? Travis Forman of Harbourfront Wealth Management - Medium In fact, I clearly remember the moment. Over the long term, there is more emotional, mental, and financial risk than reward. Banks unfazed by success of independent brokerages, Advisor-owned firms have added billions in AUA by poaching advisors from banks. Visit JasonHartman.com for free materials and resources. Harbourfront Wealth Holdings Inc. Reports Record Profits - GlobeNewswire Some will set some so big others think theyre crazy. Paul is responsible for nationwide directives including the development of a Wealth and Estate Planning division, an Investment Advisor Training and Education program, and the ensemble of a National Strategic Partnership Network for his previous firm, Canaccord. No portion of this site may be replicated without permission. VANCOUVER, British Columbia, Aug. 11, 2021 (GLOBE NEWSWIRE) -- The Harbourfront Group of Companies (The Harbourfront Group), today reported financial results for the quarter ending on June 30, 2021. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. But Scott said media coverage of bank advisors moving to independents has been overblown: There is no epidemic here at all with regard to advisors from bank-owned firms wanting to go to independents.. Daily content from Financial Times, the world's leading global business publication. Over the past eight years, weve changed the lives of our clients and today, were rewarding the advisors who took the leap and joined us. Make your money work for you, but ensure it aligns with your long-term investment objectives and risk tolerance. Thank you for the interview. I found this conversation interesting as I use this principle in my own marketing/approach to fueling the sales pipeline. Wes specializes in defensive portfolio construction as well as trusts and tax minimization planning. Third, the last tip is to create a complete financial plan combined with an investment strategy. VANCOUVER, British Columbia, June 14, 2022 (GLOBE NEWSWIRE) -- The Harbourfront Group of Companies ("Harbourfront") which includes Harbourfront Wealth Management Inc., a Canadian independent wealth management and financial planning advisory firm, today announced a strategic investment from Audax Private Equity (Audax), valuing the company at an enterprise value of CAD $425 million. This has resulted in a significant increase in assets under administration and revenue growth during the quarter, a trend that we expect to continue into the remainder of the year.. Lets first start off by addressing what financial literacy is. Since Wellington-Altus launched in 2017, the company now has 33 offices and more than $15 billion in AUA. Obviously, the independents need to publicize it because thats the only way theyre going to show theres potential growth in their business and thats how theyre trying to attract [new advisors], Scott said. Ardea Partners LP is serving as financial advisor and Stikeman Elliott LLP and Kirkland & Ellis LLP are serving as legal counsel to Audax. The partnership with Audax will accelerate our companys organic growth plus better position us to grow by acquisition. Carrying this out continually will allow you to gauge, more accurately, how much money is going towards non-essentials (entertainment, dining, daily coffees, etc.) Harbourfront has 22 branches across Canada and plans to keep growing. If you are interested in learning more about this asset class, I recently wrote a Forbes piece covering this topic. Though uncertainty still remains, our integrated, multi-business model coupled with large advisory books of business continue to deliver strong financial results., While many firms struggled during the pandemic, Harbourfront thrived and I am proud of how quickly our team pivoted as a response in order to service their clients and maintain upward momentum, says Mark J. Pinto, President of Harbourfront Wealth Management. Harbourfront Wealth Management's headquarters is located at Royal Centre 1055 W Georgia St, Vancouver. They do this by offering harmonized advice that intricately weaves defensive portfolio construction, income planning and projecting, tax minimization planning . CCI Pays de la Loire | LinkedIn A colleague and I were having a conversation while stamping cheques and giving change. Thanks for all that. I cant remember who said it but its brilliant for people in my business. In her new role as SVP, Thompson will join Harbourfronts executive team and lead the enablement of strategic corporate business development to meet the firms strategic and financial goals. No portion of this site may be replicated without permission. "Harbourfront has incredible plans for this year that will continue to disrupt the industry and unlock new market opportunities, and I'm thrilled that Kim has joined our team at this time of massive growth, says Danny Popescu, Chief Executive Officer at Harbourfront Wealth. To close the circle on this, alternative investments are the cool colors for the watch strap. Independent investment brokerages such as Vancouver-based Harbourfront Wealth Management Inc. and Winnipeg-based Wellington-Altus Private Wealth Inc. have wooed advisors from the banks with the promise of greater autonomy and an ownership stake in the business. That is making private investments retail-friendly in Canada. Client education, that is. I knew walking into the wealth management space that education was going to be a core part of my practice. As well as to obtain support from an expert, typically known as a financial advisor, wealth or portfolio manager. In a statement, Ed Dodig, executive vice-president and head of CIBC Private Wealth Management and Wood Gundy, touted referrals as one of the benefits enjoyed by bank advisors: We have a collaborative approach in which our advisors work closely with colleagues across our bank on referrals and growth opportunities.. In fact, RBC has recruited advisors from independents the bank just doesnt publicize those successes, Scott said. Hartman emphasized that there are independent advisors who choose to move to banks. The Harbourfront Group Announces Partnership with Audax Harbourfront Wealth Management. var CurrentYear = new Date().getFullYear() 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Can you share how that was relevant to you in your life? Were trying to offer something a bit different than the other bank-owned brokerages, Lemay said. To contribute to the conversation, you need to be logged in. Copyright 2023 by Harbourfront Wealth Management Inc., all rights reserved. He manages retail client portfolios for the High Net Worth, as well as pension funds. June 14, 2022 09:00 ET | Source: Harbourfront Wealth Management Access articles from across Canada with one account. Starting with very little, Jason, while still in college at the age of 19, embarked on a career in real estate. Over time, even small contributions to your investment accounts can lead to significant savings, thanks to the miracle of compound interest. And I said to him, You should order more orange, blues, etc. He replied, I agree these colors are attractive and interesting. The department of Mayenne is in the Pays de la Loire and its capital is Laval. In less than five years and over the course of the pandemic, Travis led the growth of Willoughby Asset Managements private pools to over $1 billion in AUM. has steered us to the forefront of the industry. In addition to strong revenue performance, AUA (assets under administration) growth also increased by 28% YOY. Lynn Stibbard, CFO & COO of Harbourfront attributes the strong financial results to consistent monthly earnings despite being held against an uncertain backdrop in 2020. Meet our Managing Partners Danny Popescu. Promote your product offering to tech buyers. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. Harbourfronts parent company Harbourfront Wealth Holdings Inc. has ownership of four operating subsidiaries which are comprised of three divisions: wealth management, insurance, and ownership in an externally sub-advised Canadian asset management firm specializing in alternative investments. View Wes' Website. Subscribe for only $71.99 annually, Harbourfront Wealth Welcomes Executive Managing Director of Tax & Wealth Planning, Paul Marion, David Rosenberg: The Bank of Canada may rue its recent interest rate hike, Posthaste: Why the Bank of Canada will likely raise interest rates again and maybe again, David Rosenberg: Rate hike is nail in the coffin that will bury Canada's debt-heavy economy, Teachers' restructures real estate division, names new Cadillac Fairview CEO, The Bank of Canada just 'stomped' on the housing market rebound, tap here to see other videos from our team. Sarah MawjiPublic Relations Executivesmawji@harbourfrontwealth.com 604-365-1786, https://www.linkedin.com/company/harbourfront-wealth-management. You are a person of great influence. About Harbourfront Wealth Management Harbourfront Wealth Management is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net-worth clients with approximately $4 billion of assets under administration and $2 billion of assets under management. Ultimately improving retirement for Canadians. So why not set large goals and help as many people as you can? We may be an irritant, but I dont think we really move the needle on their day to day.. About Audax Private EquityAudax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. My email is tforman@harbourfrontwealth.com. This one I love. It is a member of the Harbourfront Group of Companies, which also encompasses a sub-advised Canadian Asset Management firm specializing in private securities, and Harbourfront Wealth America, a US registered investment advisor. Harbourfront Wealth Management | LinkedIn At 39 years of age Danny was named Business in Vancouvers Top Forty under 40. Wes has been featured in various media sources including Business In Vancouver/Roundhouse Radio, Mornings with Glen Valaitis, Advisors Edge Magazine, Asset TV Canada, and The Globe and Mail. Over the last three years, SPWC has been named one of the fastest-growing wealth management practices at the firm, and in 2022, was named National Advisory Team of the Year by Wealth Professional Canada. Claim your Free Employer Profile Website: www.harbourfrontwealth.com Headquarters: Vancouver, Canada Size: 51 to 200 Employees Type: Company - Private Revenue: Unknown / Non-Applicable Competitors: Unknown What are your colleagues talking about?

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