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Wellington-Altus attracts $2 billion more in advisor assets

Independent has deals lined up for first half of 2020 as it takes advantage of frustrations with big banks

Wellington-Altus Private Wealth already has more than $2 billion of assets confirmed to cross over from bank-owned firms through Q1 and Q2 as it continues its explosive growth.

The independent wealth manager, borne out of the management team that built up Wellington West before selling it to National Bank for $333 million, is busy repeating that expansion story. This April, Wellington-Altus celebrates its third anniversary having reached $10 billion AUM. It believes it can double that over the next two to three years.

Todd Degelman, founder, vice-chairman and senior investment advisor, is confident of bringing in at least $5 billion in 2020, building on an eye-catching 2019 that included the addition of Calgary-based Cresco Wealth Management and former head of ScotiaMcLeod Inc, Rob Djurfeldt. It also acquired TriVest Wealth Counsel, representing its first foray into the investment counsel portfolio manager side of the industry

Click here to read the full article as originally featured in Wealth Professional Magazine on January 23, 2020

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The information contained herein has been provided for information purposes only. The information does not provide financial, legal, tax or investment advice. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) does not guarantee the accuracy or completeness of the information contained herein, nor does WAPW assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.

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