CPE News (11/2/2021) – Wellington-Altus Financial Inc. has secured $85 million minority growth equity investments from The Cynosure Group (Cynosure) and Jessiman Family Investments (JFI).
Through their investments, Cynosure and JFI have or will (as applicable) become minority owners of Wellington-Altus and will join the company’s board of directors, subject to shareholder approval.
Wellington-Altus’ founders, advisors, and management team will continue to control and operate the business.
Founded in 2017, Wellington-Altus Financial Inc. is the parent company to Wellington-Altus Private Counsel Inc., an Investment Fund Manager and Portfolio Manager, and Wellington-Altus Private Wealth Inc., an Investment Dealer. With approximately $20 billion in assets under administration and offices across the country, Wellington-Altus identifies with successful, entrepreneurial advisors and portfolio managers, and their high-net-worth clients.
Jessiman Family Investments is a Winnipeg based Family Office, formed after the Jessiman family sold the Bison Transport Group of Companies to James Richardson & Sons Ltd. in late 2020.
Salt Lake City, Utah based Cynosure Group is an independent alternatives asset manager and portfolio advisor that makes long-term investments on behalf of families, foundations, and other like-minded institutions.
photo credit: Wellington-Altus
News Release
Wellington-Altus Attracts Up to $85 Million in Minority Partner Capital to Fuel Future Growth
WINNIPEG, MB, TORONTO and MONTREAL, Nov. 2, 2021 /CNW/ – Wellington-Altus Financial Inc. (Wellington-Altus), Canada’s pre-eminent independent comprehensive wealth management company, with approximately $20 billion in assets under administration, announced today that it has attracted minority growth equity investments from The Cynosure Group (Cynosure) and Jessiman Family Investments (JFI). As Wellington-Altus continues to gain momentum as the number-one wealth advisory company in Canada*, this strategic partnership will support the firm’s unstoppable growth through hiring top wealth advisors and acquiring select established money management firms across the country.
Through their investments, Cynosure and JFI have or will (as applicable) become minority owners of Wellington-Altus and will join the company’s Board of Directors, subject to shareholder approval. Wellington-Altus’ founders, advisors, and management team will continue to control and operate the business, now with increased funds to raise the bar even higher on delivering best-in-class client experiences to a nationwide clientele.
“This is an important catalyst in the continued growth of our firm, with many months of planning and execution now coming to life,” says Founder & Chairman of Wellington-Altus Financial, Charlie Spiring. “I am wholly impatient to onboard the many new top advisors and select money management firms that know we can help them achieve even better results for their clients.”
“Attracting seasoned operators and investors like JFI and Cynosure speaks volumes of where we are today as a firm, and where we are headed with these incredible partners on board is even more exciting,” says Shaun Hauser, Founder & President of Wellington-Altus Financial. “We are all eager to start executing on the next phase of growth for our business. Creating a foundation of value for advisors is a big deal for us. We want them to have things no one else has. We have that today and are now positioned to do even more for our clients.”
“The extraordinary growth and success of Wellington-Altus has been truly impressive to observe, and we are thrilled to be joining the team as an investor,” said Peter Jessiman, Chief Executive Officer of JFI. “We believe their combination of world-class advisors and an unrelenting focus on results for the client will enable the firm to prosper well into the future.”
“After many years of partnering with leading private wealth management businesses in the U.S., we know what success looks like, and Wellington-Altus’ explosive presence and reputation for outstanding client service in Canada is undeniable. We are incredibly excited to help the firm achieve their next leg of growth,” said Keith Taylor, Co-Founder & Managing Director of Cynosure.
About Wellington-Altus Financial Inc.
Founded in 2017, Wellington-Altus Financial Inc. (Wellington-Altus) is the parent company to Wellington-Altus Private Counsel and Wellington-Altus Private Wealth—the top-rated* wealth advisory company in Canada and one of Canada’s Best Managed Companies. With approximately $20 billion in assets under administration and offices across the country, Wellington-Altus identifies with successful, entrepreneurial advisors and portfolio managers, and their high-net-worth clients.
*Investment Executive 2021 Brokerage Report Card.
To find out more about Wellington-Altus, please visit: https://www.wellington-altus.ca/
Jessiman Family Investments
Jessiman Family Investments (JFI) is a Winnipeg-based Family Office, formed after the Jessiman family sold the Bison Transport Group of Companies to James Richardson & Sons Ltd. in late 2020. JFI has substantial holdings in public equities, real estate, and a portfolio of private investments, including a Private Equity partnership. Members of the JFI executive also help oversee The Jessiman Foundation, the family’s philanthropic arm.
For inquiries about JFI, please contact Susan Deleau: sdeleau@jfii.com
The Cynosure Group
Tracing its roots to the Eccles family of Utah, The Cynosure Group is an independent alternatives asset manager and portfolio advisor that makes long-term investments on behalf of families, foundations, and other like-minded institutions. Cynosure’s collaborative solutions focus on alternative asset classes that range from select direct investment opportunities in profitable small to mid-sized companies, to comprehensive portfolio construction and allocations.
To find out more about Cynosure, please visit their website: https://cynosuregroup.com/
SOURCE Wellington-Altus Financial Inc.
For further information: Sara Howe, Senior Manager, Communications, T. 647.966.7112, sara.howe@wprivate.ca