Wealth Management

Leadership and Accountability

The Wealth Management segment consists of GMP’s non-controlling ownership interest in Richardson GMP Limited (Richardson GMP).

Richardson GMP is Canada’s largest and top ranked independent wealth management firm, entrusted with over $26 billion (at December 31, 2015) in client assets across a meaningful national footprint. With approximately $140 million in average assets per advisory team, Richardson GMP is solely focused on delivering comprehensive wealth management services and solutions tailored to the particular needs of its clients. The complete and extensive resources of the firm are dedicated to helping its Investment Advisors deliver on that promise.

Mission and Vision

Richardson GMP’s mission is to help affluent individuals and their families build, protect, manage and transfer their wealth.

• To be the leading national wealth management firm, specializing in addressing complex financial needs for affluent individuals and families;

•To be the leading provider of unbiased, objective, and comprehensive wealth management advisory services;

• To continue their commitment to embracing industry-leading standards of integrity and living by them every day for the benefit of their clients, advisors, shareholders, employees and their communities; and

• To be known for providing a home for a select number of the country’s finest and most successful Investment Advisors who are passionate and aligned with its value proposition and business model.

Industry Leadership
Richardson GMP is proudly Canadian and fiercely independent. The business has evolved to become not only Canada’s largest independent franchise, but its most influential. For the sixth consecutive year, the firm received the top rating in the highly regarded annual Investment Executive Brokerage Report Card. Serving over 40,000 households, Richardson GMP has positioned itself as the only viable alternative to bank-owned dealers.

A concept Richardson GMP has embraced from the very beginning. In 2015, the firm’s executive team restructured their accountabilities, objectives and reporting lines to the strategic vision for the firm. This industry-noted team is working together toward the objective of being the leading wealth management firm in Canada. Consequently an investment was made in the growth of Investment Advisor practices by developing a Practice Development Institute, a collaborative community of resources, tools and best practices to enhance development and help drive organic growth achieved through proactive support for Investment Advisor teams and branches across the country.

Additionally, Richardson GMP again proved its commitment to its clients by delivering stage one of Client Relationship Model 2 (CRM2) requirements for full disclosure reporting about the costs and performance of their investments, and the content of their portfolio holdings. Richardson GMP has always aspired to achieve the highest standards of integrity, transparency and best practices in managing the wealth of its clients. They will continue to expand on the reporting clients receive with a third phase of enhancements rolling out in January 2017. These enhancements will outline what they are being charged by their Investment Advisors and what they are getting in return — a high level of service, commitment and accountability. Richardson GMP is well positioned to capitalize on the long-term trends shaping the industry and to blaze a trail as an industry leader.

Independent Experts
Richardson GMP’s Investment Advisors are highly knowledgeable with deep industry experience. Each shares the firm’s commitment to unbiased advice and unparalleled service excellence and is invested in Richardson GMP as owners. To underscore the importance of impartial advice, its Advisors are never pressured or compensated differently to offer in-house services and products as part of their recommendations. They have the freedom, flexibility and support required to develop truly customized investment solutions.

In-House Experts
Clients look to Richardson GMP for leadership, family governance best practices, and comprehensive and innovative solutions to grow and preserve their wealth. Advisors have the freedom to access the knowledge of the firm’s in-house team of expert practitioners including, lawyers and tax and estate planners. This team works closely with Advisors to address the wealth management needs particular to affluent families, including:

• Investment and risk management;
• Tax strategies;
• Estate planning;
• Insurance;
• Philanthropy; and
• Business, farm succession.

Strong Canadian Roots
Richardson GMP Advisors are also supported by the substantial resources of its founding companies: James Richardson & Sons, Limited, one of the most trusted names in Canadian financial services with a legacy spanning over 85 years; and GMP, one of Canada’s most dynamic independent investment dealers with proven expertise in capital markets and wealth management. Through predecessor firms, Richardson GMP has been acting as stewards of wealth for its clients and their families since 1926.

Sustained Fiduciary Leadership
Central to sustaining the leadership position in the Canadian wealth management industry is a willingness to be held accountable to the highest standard of fiduciary care. Successful organizations recognize that there can be no greater priority than continuing to earn a client’s trust. Richardson GMP is proud to be the first Canadian Investment Advisory firm to be certified by the Centre for Fiduciary Excellence for its Separately Managed and Portfolio Management Account platforms. This independent recognition attests to Richardson GMP’s high standards of integrity, transparency and best practices in managing client wealth.