Wealth Management

The Value of Professional Advice

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 $29.4 billion (at December 31, 2016) in client assets. With offices across the country, the firm is home to some of Canada’s most distinguished Investment Advisors with an average of nearly $150 million in average assets per advisory team. All Richardson GMP Advisors share a passion for professionalism and a commitment to delivering unbiased — and unparalleled — wealth management solutions. They are supported by the substantial resources of its founding companies and their respective track records of success in Canada.

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 seventh consecutive year, the firm received the top rating in the highly regarded annual Investment Executive Brokerage Report Card. The firm’s high ethics were especially noted as well as the freedom to make objective product choices. Serving over 40,000 Canadian families, Richardson GMP has positioned itself as the only viable alternative to bankowned dealers. In 2016, Richardson GMP had a strong financial performance delivering the results that ensure the firm’s financial footing and continues to provide a compelling opportunity for the best Advisors in the country to develop a great practice and share in the ownership of their firm.

Accountability to Clients
The second stage of the Client Relationship Model 2 (CRM2) took effect in 2016 across Canada, where requirements to deliver standardized information in client investment account statements were enacted. These new rules require that clients receive annual reports summarizing the compensation they pay to their Advisors as well as performance of their investment portfolios. This kind of transparency has not always existed in the wealth management industry but at Richardson GMP, the firm and its Advisors have consistently aspired to achieve the highest standards of integrity, transparency and best practices in managing the wealth of clients. Many Advisors took the initiative of planning an additional meeting with their clients solely to ensure reporting and fees were fully understood. Further enhancements to reporting was a top priority for the firm as a more detailed statement on fees was distributed to all clients in January 2017. Additionally, a complete overhaul of the Online Account Access (OAA) portal was started in late 2016 with a launch expected in late 2017. Richardson GMP realizes the importance of having the access to accurate and timely information and this redevelopment of the OAA will further enhance this offering. Richardson GMP’s embracement of transparency in reporting and easy access to information has further positioned the firm as an industry leader.

The Importance of Independance
As stakeholders and owners, Richardson GMP Advisors share an entrepreneurial vision with their clients. The firm’s independent platform empowers its Investment Advisors to focus on delivering unbiased advice and unparalleled service excellence. Recommendations made to clients are never influenced by the products and services exclusive to Richardson GMP. Advisors have the freedom, flexibility and support required to develop truly customized investment solutions that best serve clients’ needs.

Richardson GMP's Private Family Office:
(From left to right): Mike George, National Director, Kieran Young, National Director, Sylvia Azoulay, Vice President, Wealth Strategist, and Robert Mendenhall, Vice President, Wealth Strategist

In-House Expertise
Wealth Management is about planning for their future and clients look to Richardson GMP for leadership, family governance best practices, and comprehensive and innovative solutions to help manage risk and preserve their wealth. Our 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. Whether the client is an individual investor or a business owner, each investor will have unique situations that need to be considered.

This team of specialists works closely with Advisors to address the wealth management needs particular to affluent families, including:

Strategic planning for high net worth families — including tax and estate planning, cross border taxation and wealth preservation
Planning for entrepreneurs — including business succession strategies, family trusts, tax strategies
Risk management — Insurance solutions — including estate preservation and optimization and disability and illness strategies
Charitable giving strategies — including private foundations and creating a legacy

Senior Members of the Tax and Estate Planning Team:
(From left to right): Jennifer Reid, Vice President, André L’Espérance, Director, Maureen Glenn, Vice President, Amélie Campeau-Lanctôt, Vice President, and Brian Cabral, Senior Financial Planner

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 90 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 a history of acting as stewards of wealth for Canadian families starting in 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.