Richardson Partners Financial Ltd. announced today it has surpassed $5 billion in assets under administration. The two-year old firm specializes in managing the financial affairs of high net worth Canadians and their families.

The wealth management firm boasts that its investment advisor teams, on average, are responsible for managing more than $119 million in client assets.

Sue Dabarno, the firm’s president (formerly the president and COO of Merrill Lynch Canada), credits Richardson’s organic growth to firm’s unique culture.

“Everything we do centres on the client/advisor relationship,” says Dabarno. “Our environment is free of bureaucracy as well as competing internal interests. Investment sdvisors can simply focus on meeting the unique needs of their clients.”

Dabarno adds that each advisor is an equity owner and can make decisions that create value for themselves and the firm.

Richardson Partners has accomplished its initial growth with the recruitment of 43 investment advisor teams. To maintain its unique culture, the firm plans to limit its size to 150 advisor teams.

“We focus on the best of the best, approximately the top 2% of investment advisors. That means a practice focused on wealthier Canadian families; an unblemished track record; and superior expertise in creating unique wealth management solutions,” says Dabarno.

Richardson Partners is sponsored by James Richardson & Sons, Ltd. It, along with Richardson Capital Ltd., a private equity firm, is an affiliate of Richardson Financial Group which is led by Sandy Riley, former chairman and CEO of Investors Group.

The Richardson family, which will celebrate its 150th year in business next year, has a long history in Canadian financial circles, beginning with the establishment of Richardson Securities of Canada in 1926. Following its merger with Greenshields of Canada, Richardson Greenshields became the largest privately owned investment and commodity dealer in the country. It was purchased by RBC Dominion Securities in 1996.

Richardson Partners has offices in Vancouver, Calgary, Edmonton, Winnipeg, Mississauga, Toronto, Montreal and Sherbrooke.