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Industry veteran Andrew Marsh has joined Wellington-Altus Financial Inc.’s board of directors.

The former founder, president and CEO of Richardson Wealth (previously Richardson GMP) will be the eighth board member, leveraging his 30-plus years of industry experience. Marsh, who left Richardson Wealth in 2021, will help develop and execute on Wellington-Altus’ strategies and goals, a release said.

One of the firm’s goals is to reach $50 billion in assets under administration within the next few years, Wellington-Altus founder and CEO Shaun Hauser said in a release.

Hauser said he values Marsh’s international financial markets experience.

“We want to raise the standard of what we are to our advisors,” Hauser told Investment Executive, adding that the W-A board can be more effective by adding leaders who have built and grown firms, and who “have walked in our shoes” as a growing company.

Marsh said Wellington-Altus’ goals are appealing to him, and are “aligned with where I think the industry should be going, in terms of professionalization and holding ourselves to higher standards.”

He said he hopes to be a resource to Wellington-Altus as it becomes larger and deals with “all the complexities that come with that, which I’ve had to navigate [before].”

“Most of my impact is going to be providing guidance and mentorship to the executive team,” he said.

This past summer, Wellington-Altus’ leadership team shifted, with Jordy Chilcott leaving the firm — moving to Manulife Investment Management in September and being succeeded in his former president role by Dennis Stewner. The firm also created a new advisor-focused chief experience officer role that has yet to be filled.

Hauser said it gives him peace of mind to know he can call on Marsh, who is “somebody who’s been there, done that.”

Marsh also will continue his full-time work as vice-chairman with U.S.-based RIA financial services provider Dynasty Financial Partners (located in Saint Petersburg, Fla). He’s also an executive in residence for an investment professional program run by the Investment Industry Association of Canada (IIAC) and the Ivey School of Business at Western University.

Other notable moves this week:

  • Two advisor teams joined Richardson Wealth in British Columbia within the past week, becoming the first groups to join the firm’s Victoria-based office. They were: Lalli Greco Wealth Management, comprised of three investment advisors plus coordinators and assistants; and IC Blue Heron Wealth Advisory Group, comprised of five investment advisors and two assistants. Amrit Lalli and Dan Greco, with the first group, both come from IG Wealth Management’s Investors Group Securities Inc., same as their associate colleague Kelsey Carragher. For Blue Heron, a team that came from CIBC Wood Gundy, the lead advisors are Graham Isenegger and Neil Chappell (both are also portfolio managers) as well as associates Courtney Lance, James Spencer and Hanna Kent.
  • Glen Padassery will lead the auto/insurance products (AIP) team with the Financial Services Regulatory Authority of Ontario (FSRA), as executive vice-president (EVP) of auto/insurance products. He first took on the role in an acting capacity in July. He also remains EVP of policy as he works on a transition plan for the auto insurance division.
  • The Alberta Investment Management Corporation (AIMCo), announced today the appointment of Shelley Nixon as chief legal officer, effective Jan. 29, 2024. Her career spans more than two decades, a release said.
  • KingSett Capital Inc. has announced multiple high-level executive changes. The Toronto-based private equity real estate firm will name Rob Kumer as its CEO, effective Jan. 1, 2024, as Jon Love transitions to the role of executive chair. Kumer will remain chair of KingSett’s management and investment committees. Colin Baryliuk (currently group head of property investments) will become CIO in Kumar’s place, while Scott Coates will be president of KingSett Mortgage Corp. (both changes also are effective Jan. 1).
  • Industry veteran John Creswell (who works out of the U.S.) was named executive managing director and global head of capital raising with Vancouver-based real estate investment firm Trez Capital. He’s new to the firm — coming from Chicago-based Duff & Phelps Investment Management Co. — and will work on capital-raising strategies for all distribution channels.

If you know of other people moves in the financial industry and/or would like us to consider your announcement, email Katie Keir at katie@newcom.ca.