Wealth Management  

At the Forefront of Change

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

Richardson GMP
Richardson GMP is Canada’s leading independent wealth management firm, entrusted with over $30.5 billion (at December 31, 2017) 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 $168 million in client wealth 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.

Members of the Richardson GMP Leadership Team:
(From left to right): Andrew Marsh, President & CEO, Elliot Muchnik, Chief Financial Officer, Lynne Brejak, Director, Human Resources, Mike Ankers, Director, National Sales, Scott Stennett, Cheif Operating Officer, Michael Williams, Chief Risk and Compliance Officer

Industry Changes
Richardson GMP has always been at the forefront of wealth management in Canada. The very origins of the firm arose from the needs of entrepreneurs and successful families for more strategic planning and advice than what was typical of a traditional investment advisory. These needs have driven Richardson GMP’s business plan and formed the foundation of its service offering to clients. The wealth management industry is in a period of rapid evolution, where advice is now centric rather than the execution of transactions. Additionally, transparency of costs has become a bigger part of the client conversation through the continued roll out of CRM2 regulations (Client Relationship Model – Phase II). These improvements in the level of information provided to investors have long been embraced by Richardson GMP, which has always aspired to achieve the highest standards of integrity, transparency and best practices in managing the wealth of clients.

In 2017, the firm’s management team prepared to lead change. It was a foundational year for Richardson GMP in planning for products and services that clients need as well as building the platform that will allow Advisors to deliver more value than ever. This planning will reward the firm by attracting Canadian families who want more from their wealth management firm and Advisors who want to partner with a firm that is able to adapt in order to lead the industry today and in the years ahead.

The Importance of Independence
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.

Complete Wealth Management
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 internal 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

Canada’s National Multi-Family Office

Richardson GMP Private Family Office is a wholly owned subsidiary of Richardson GMP providing personalized strategic counsel and administrative leadership to families with inter-generational wealth. As Canada’s national multi-family office, they are an objective partner for their client-families who are concerned about organizing and optimizing their wealth, preserving capital for future generations, raising and educating children to have healthy relationships with wealth and fostering impactful relationships in their communities.

Their unique client experience is built on the foundation of objective advice. Richardson GMP Private Family Office’s advice and services are provided separately from asset management, regardless of where client assets are held.

The Private Family Office recognizes that the needs of wealthy families go beyond managing investments and minimizing tax. It helps families to define the purpose of their wealth and realize their family’s overall potential.

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 92 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.