Vancouver-based Credential Financial Inc. has launched a new program that aims to connect credit unions’ affluent clients with portfolio management firms.
The portfolio managers will provide money management services to high net worth credit union members, who may otherwise turn to traditional brokers for their investments.
“In order to fully meet these clients’ complex needs, the portfolio managers will take a holistic approach by referring to accredited credit union investment professionals to provide additional wealth management services including estate planning, insurance needs analysis, and retirement planning,” the firm says.
Credential also notes that the new program presents credit unions with an opportunity to expand their business by catering to the growing number of affluent investors in Canada.
“The Credential Affiliates Program will not only enhance our wealth management offering allowing us to better serve our high net worth members, it also presents new business development opportunities for credit unions across Canada,” said Randy Biberdorf, vice president, wealth management, of Edmonton-based Servus Credit Union.
“As one of the affiliate portfolio management firms in this program, we look forward to collaborating with Credential’s credit union partners and providing their members with our expert guidance on all aspects of discretionary investment management,” said Bruce Shewfelt, CEO of Connor, Clark & Lunn Private Capital.