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. vs. the essentials. Hartman emphasized that there are independent advisors who choose to move to banks. Investment from Leading Alternative Investment Manager Values Harbourfront at an Enterprise Value of CAD $425 Million. Harbourfront Wealth Management Danny brings 24 years of industry experience and prior to running the Harbourfront group of companies, built and managed one of Vancouvers largest private wealth management practices. If the banks have too much market share, its not healthy you need strong independents.. By 32 years of age on new assets, Danny ranked as the number one advisor at Canadas largest asset management firm. When was Harbourfront Wealth Management founded? So, why would an advisor choose to move from a bank to an independent, or vice versa? For anyone outside of the school environment, I would say the best way to educate yourself is to read financial materials and attend educational events hosted by advisors and other financial institutions. Thompson joins Harbourfront Wealth with over three decades of experience. With the internet, too, many financial planning and resources are available online. Harbourfront Wealth Management. Where is Harbourfront Wealth Management's headquarters? No!! It is a member of the Harbourfront Group of Companies, which also encompasses a sub-advised Canadian Asset Management firm specializing in alternative investments, and Harbourfront Wealth. This advertisement has not loaded yet, but your article continues below. The . Financial literacy is having the knowledge, ability, and skill to make critical financial decisions over the short-term (think budgeting) and long-term (financial planning). Harbourfront Wealth Management was founded in 2013. Can you share with our readers the most interesting or amusing story that occurred to you in your career so far? If you are interested in learning more about this asset class, I recently wrote a Forbes piece covering this topic. Seek advice from a financial advisor/portfolio manager. Nominated for Wealth Professional Awards Advisor of the Year for 2018, 2019, Member of the Chairmans Club 2016, 2017, 2018, 2019, 2020, Wes has delivered several wealth management lectures over the years for industry professionals and other entrepreneurs including being a guest speaker at the Telus Agency Summit and Private Wealth Vancouver Forum. He manages retail client portfolios for the High Net Worth, as well as pension funds. This has led to the success of our firm as early adopters, but happy to say all our competition is starting to introduce private investments as well. 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. Paul Marion brings over thirty years of management experience to Harbourfront. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. Some IAs are more analytical than others and wont accept equity ownership in a dealer without first looking under the hood., Mr. Popescu, says high AUM does not mean a healthy, profitable business and those who compare balance sheets, always pick us., I dont want to own the hotel chain that has the highest number of rooms, I want a lean hotel business that has the best profit margins. Titanbay also supports private banks and wealth managers by simplifying investing in private markets for a wider client set through an institutional level of access, reduced investment minimums, and an intuitive technology solution that is modular and provides full flexibility and control. | Source: There are numerous reasons an advisor might prefer to work for a bank, Scott said. We dont have any interest in publicizing that., RBC didnt reveal how many advisory teams or how much AUA it has added through recruitment. She did just that, and 25 years later, Im able to say, with certainty, it was the best move I have ever made. Our readers would like to learn a bit more about you. Harbourfront Wealth Management (Harbourfront) is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net worth clients. Can you explain what you mean? Through Jasons podcasts, educational events, referrals, mentoring and software to track your investments, investors can easily locate, finance and purchase properties in these exceptional markets with confidence and peace of mind. For example, I am a huge believer in private alternative investments. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com, ContactsFor Harbourfront: Sarah Mawjismawji@harbourfrontwealth.com604-365-1786, For Audax:Julie Rudnick / Catherine LivingstonFGS GlobalAudax-SVC@SARDVERB.com. Oakwater Wealth Counsel - Harbourfront Wealth Management. Additionally, I was a keynote speaker at two major conferences and participated in three panels to educate community members on different topics, curb fears and transparently answer questions related to finance and the road ahead. Vancouver, B.C. 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. You never know what your idea can trigger. But the banks have been better to date, at least than the independents at recruiting people. I think Im living in that movement right now. VANCOUVER, British Columbia, Sept. 30, 2022 (GLOBE NEWSWIRE) -- Harbourfront Wealth Management ("Harbourfront"or the "Company"), a leading national investment management firm, today announced the appointment ofKim Thompsonas Senior Vice President, Strategy & Advisor Services (SVP), effective September 6, 2022. Stay on top of your goals and be realistic. Thank you for the interview. May 30, 2022 08:00 ET Carrying this out continually will allow you to gauge, more accurately, how much money is going towards non-essentials (entertainment, dining, daily coffees, etc.) Were trying to position ourselves as not the typical Bay Street bank, but as Montreal-based with a Montreal culture. VANCOUVER, British Columbia, Jan. 31, 2022 (GLOBE NEWSWIRE) Today, Harbourfront Wealth Management announced Paul Marion has joined the company to help write its next chapter of growth as Executive Managing Director of Tax & Wealth Planning. MEET THE TEAM Harbourfront Leadership Leadership is about being of service to others, not being served by others. In addition to his corporate role, he's an active Portfolio Manager and the principal of Harbourfront's largest client. Harbourfront Wealth Management's headquarters is located at Royal Centre 1055 W Georgia St, Vancouver. Pays de la Loire, rgion of France encompassing the western dpartements of Mayenne, Sarthe, Maine-et-Loire, Vende, and Loire-Atlantique. June 14, 2022 09:00 ET Through creativity, persistence and hard work, he earned a number of prestigious industry awards and became a young multi-millionaire. In addition, our tech initiatives, some new this year, make it easier for advisors to do business and weve architected an agile system that speaks to the quality of the advisors we attract.. But banks that are worried about losing advisors to independents can do a number of things to retain advisors, he said, such as providing them with business-development support and making onboarding and serving clients easier. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. For the quarter, The Harbourfront Group reported a revenue increase of 11% year over year (YOY) to its board of directors. 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? I worked with a few firms before joining Harbourfront Wealth Management, which I joined in 2016. The old quarters of the town, which have fine 16th- and 18th-century houses and two chteaus, are located on the west bank slopes of the Mayenne River and are surrounded by the modern town on both sides of the river. With IA teams managing an average of CAD $182 million, we have created a think tank of high performing advisors who are focused on elevating the client experience, says Mark J. Pinto, President and Director of Harbourfront Wealth Management. Lynk connects investors with investment strategies via a digital marketplace. The company is headquartered in Vancouver, BC, and has a rapidly . Promote your product offering to tech buyers. Adoption amongst various regulators around the globe is taking place, and many financial institutions are jumping on board. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? Ardea Partners LP is serving as financial advisor and Stikeman Elliott LLP and Kirkland & Ellis LLP are serving as legal counsel to Audax. What is Harbourfront Wealth Management's latest funding round? Jasons sought after educational events, speaking engagements, and his popular Creating Wealth Podcast inspire and empower hundreds of thousands of people in 189 countries worldwide. Can you share the lesson or takeaway you took out of that story? Harbourfront Wealth Management includes a registered Securities Dealer/Investment Advisory firm servicing established advisors and their high net worth clients, an Investment Fund Manager that specializes in managing sub-advised alternative investment funds and a US SEC Registered Investment Advisory firm. Ok, thank you! Advisors dont want to go from one bank to the next you see very little of that today, said Danny Popescu, Harbourfronts president and CEO. Visit our Community Guidelines for more information and details on how to adjust your email settings. The first thing is not so much a project but more of a campaign. What are your thoughts about daytrading, using apps like Robinhood? Opto Investments provides independent investment advisors with a total solution for accessing private market investments. Thompson will directly oversee Business Development for Willoughby Asset Management, Harbourfront Wealths subsidiary under The Harbourfront Group. I think were just a mosquito bite on their shoulder, Hauser said. Adding Paul as a core member of our senior leadership team will add meaningful scale, a competitive offering to ultra-high-net-worth customers within the Canadian financial landscape, and capabilities that will enable us to drive greater growth, returns and efficiencies, said Danny Popescu, Chief Executive Officer, Harbourfront Wealth Management. Get email updates from your favourite authors. This is money that you can use when unforeseen circumstances or opportunities strike. Kim's 35 years of dedication to the wealth management industry, coupled with her strategic development of successful businesses, makes her an exceptionally strong fit for our team.. Below are three steps you can use as a starting point. For example, at the start of my career, I was invited to participate in programs to help push the financial literacy needle forward. No portion of this site may be replicated without permission. By this time, we had engaged in several conversations about what financial planning and the industry of wealth management was about, and they had really piqued my interest. These individuals collectively have had a great impact on my personal life and professional career. But, of course, there are exceptions. Read more about cookies here. I found this conversation interesting as I use this principle in my own marketing/approach to fueling the sales pipeline. Since Wellington-Altus launched in 2017, the company now has 33 offices and more than $15 billion in AUA. How do you think that will help people? Secondly, a project Ive been working on also education-centric has been focused on teaching clients and non-clients about the area of alternative investments. Well, its no secret that cryptocurrencies and digital assets are making their way into everyday conversations and gaining mainstream acceptance, especially amongst younger cohorts (Gen Z, millennials). If you had the power to make a change, what 3 things would you recommend to improve these numbers? Audax Private Equity has invested over $9 billion in more than 150 platforms and 1,100 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Leading Investment Management Firm Harbourfront Wealth Names Kim Thompson as SVP of Strategy and Advisor Services to Support in Next Phase of Growth, Award-Winning Author Sandy Gerber Joins Harbourfront Wealth as CMO to Strategically Develop Industry Leading National Brand, The Harbourfront Group Completes Transaction with Leading US-Based Investment Firm Audax Private Equity, Vistara Growth Welcomes Marketing Director. The public will as well. Even if your contributions are small at the start, this fund can save you from risky situations like being forced to borrow money at a high-interest rate or being unable to pay your bills. our sites and services. Were all familiar with traditional asset classes, like publicly traded stocks and fixed income, but there is a world beyond that. Theres only one rope, and everyones pulling in the same direction.. Founded in 2013, the company is headquartered in Vancouver, BC, and has a rapidly growing network of 22 branches across Canada. It helps families and business owners pursue their financial goals. If I were an advisor, Id want someone to help me manage my business, because its become overwhelming for many advisors, Hartman said. Harbourfront Wealth Management The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Copyright 2023 CB Information Services, Inc. All rights reserved. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. 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.. Both Popescu and Hauser said they arent interested in selling to a bank. Over the long term, there is more emotional, mental, and financial risk than reward. Harbourfront Wealth Management is a great example of an independent firm who is leading industry change and I am proud to be one of the drivers of this change, said Paul Marion. There is potential in the space, however, only a small portion of North American investors, at the moment, are actually investing in the space, given there is still a lot to learn. Starting with very little, Jason, while still in college at the age of 19, embarked on a career in real estate. 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. 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. I was surprised by some of the questions, but this in itself showed that finances are not always talked about at home, amongst friends and close, trusted circles. She had just shared that she had been on the hunt for a financial planning job and ended up getting one. There was an error, please provide a valid email address. Ive stayed true to this over the course of my career, but over the last 12 months, Ive ramped up efforts even further given the toll of the pandemic followed by inflationary pressures, which have placed a heavy weight on the minds of clients. Harbourfront Wealth Management. Investors of Harbourfront Wealth Management include Audax Private Equity. I think its healthy to have strong independents as part of the wealth management landscape across Canada, Lemay said. Research shows that there is a link between happiness and economic outcomes, as happiness can make us more productive, wealthier, and . About The Harbourfront GroupFounded in 2013, the Canadian-owned group is headquartered in Vancouver, B.C. As a bank teller at one of Canadas largest banks, Royal Bank. The Bay of Biscay in the Atlantic Ocean lies to the west. If you want to manage more money, ask more people to manage their money. Shareholders also received their annual dividend earlier in the month. Some will set some so big others think theyre crazy. Learn more. She has a proven track record in business development, growing and transforming financial investment companies across multiple business units and functions, and building successful strategic plans for high-growth organizations. Hauser said most of the firms advisors have come from banks, which have several lines of business in addition to wealth management and potentially competing priorities. For over two decades he has held senior leadership roles and contributed to growth and innovation within the Canadian Financial Industry. He will develop a new tax and wealth planning framework catered towards ultra-high-net-worth (UHNW) clients which will be housed under a separate division of the company. 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. Please try again. Ok. Sarah MawjiPublic Relations Executivesmawji@harbourfrontwealth.com 604-365-1786, https://www.linkedin.com/company/harbourfront-wealth-management. View all 153 employees About us Unlike the large investment institutions, we embody a philosophy of independent, unbiased advice with an unwavering commitment to delivering true wealth. In support of HWH Inc.s North American growth strategy, the company also has a US presence through its ownership of Harbourfront Wealth America. If you are a Home delivery print subscriber, unlimited online access is, Save BIG this Spring! Jasons Complete Solution for Real Estate Investors is a comprehensive system providing real estate investors with education, research, resources and technology to deal with all areas of their income property investment needs. Thanks for all that. VANCOUVER, British Columbia, CANADA I really think top advisors in the business have figured this out. We may be an irritant, but I dont think we really move the needle on their day to day.. 604-558-6830 /1 (877)588-6822. washton@harbourfrontwealth.com. The growth in revenue base was underscored by a record-breaking year-end with additional advisory teams joining Harbourfront before fiscal close. Banks also provide easy access to resources clients might need, from banking products to estate- and tax-planning services. June 14, 2022 09:00 ET | Source: Harbourfront Wealth Management Harbourfront Wealth Management VANCOUVER, British Columbia, May 30, 2022 (GLOBE NEWSWIRE) -- The Harbourfront Group of Companies (The Harbourfront Group), including Harbourfront Wealth Management Inc. (Harbourfront or The Company), today announced its results for the first quarter ended on March 31, 2022. In your opinion or experience, what is the cause of these unfortunate numbers? CBI websites generally use certain cookies to enable better interactions with our sites and services. 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.. But once you achieve them, you set another goal that is even bigger. Are you working on any exciting new projects now? Our results continue to demonstrate that we have a winning formula exclusive access to institutional investment vehicles for our clients and an advisor friendly platform with equity ownership in one of the most profitable independent dealers in Canada, says Danny Popescu, CEO of Harbourfront Wealth Management. I started in the industry pretty young. Copyright 2023 by Harbourfront Wealth Management Inc., all rights reserved. Raymond James Ltd. is serving as financial advisor and Fasken Martineau DuMoulin LLP is serving as legal counsel to Harbourfront. People often struggle with financial literacy due to the stress and emotion that comes with it. and has a rapidly growing network that currently consists of 23 branches across Canada. The data is in. Who are Harbourfront Wealth Management's competitors? You may also reach out directly if you have any questions. Wealth Professional Canada Top 50 Advisors in Canada for 2019, 2020, 2021. This is one of the main reasons financial literacy rates are so low, but thankfully, this is beginning to change. Unauthorized distribution, transmission or republication strictly prohibited. I visited grade 11 and 12 classes to educate students about finance essentials and got to engage with students and answer really important questions. We reviewed drawdown simulations and tax minimization strategies more times than usual. I cannot say that I have one mentor that I lean on or have ever leaned on in my career. Im the principal of my rapidly expanding wealth management practice, Strategic Private Wealth Counsel, and lead in the development and creation of private funds for the Harbourfront Group of Companies asset management firm. After a while, it becomes formulaic. Comments may take up to an hour for moderation before appearing on the site. 13 talking about this. View Wes' Website. RealBlocks was formerly known as DwellCity. Harbourfront Wealth Management As CEO, Danny oversees the operations of Harbourfront Wealth Holdings' four underlying businesses including its Investment Dealer, Asset Management Firm and US investment arm. What are your thoughts about investing in cryptocurrency? 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. While banks may continue to lose and gain teams to independents, Hauser said he doubts the banks are losing sleep over independent brokerages recruitment success. The past decade saw smaller firms merging with other independents and being acquired, although technological developments and efforts to cut compliance costs may be levelling the playing field. 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. Travis Forman is a Portfolio Manager at Harbourfront Wealth Management and the Practice Owner of Strategic Private Wealth Counsel (SPWC). Harbourfront Wealth Management Inc. reported a 45.6 percent year over year increase in assets under administration for the second quarter ended on June 30, 2021. We apologize, but this video has failed to load. To manage finances more confidently, I would recommend staying on top of how to personally manage your money, using all available resources. practice overseeing $600 million . Harbourfront Wealth Management is primed to serve at a high altitude as it is equipped with top-of-the line resources, people and strategic offerings catered towards high-net-worth and ultra-high-net-worth clients.

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