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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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March Market Insights: There is no Bronze Medal

“There’s only two cultures that are going to win in the next year. It’s going to be us or China.” The subtext of Palantir CEO Alex Karp’s widely cited speech from late 2025 sounds like tech‑bro theatre until you reflect on it. In artificial intelligence, there is no bronze medal. There will be a hegemon and a runner‑up. Everyone else will be a client. Markets are not pricing that reality. Investors still treat the AI build-out as marginal cloud spend or another overhyped software cycle. They debate whether Big Tech is “exhausting its available capital” or whether capex “must mean revert,” as if infrastructure were optional and competition courteous. They are using valuation models from the wrong century for the wrong game. AI is not an app store. It is a weapon system—and the operating system of the next industrial era. The capital going into it is not a bubble. It is rearmament.

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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. Wellington-Altus Financial Inc. (Wellington-Altus) is the parent company to Wellington-Altus Private Wealth Inc. (WAPW), Wellington-Altus Private Counsel Inc. (WAPC), Wellington-Altus Insurance Inc. (WAII), Wellington-Altus Group Solutions Inc. (WAGS), Independent Advisor Solutions Inc., (IAS) and Wellington-Altus USA. Wellington-Altus (WA) does not guarantee the accuracy or completeness of the information contained herein.

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