Canadian financial services legend George Frazer passed away on February 6 at the age of 86, Toronto-based Jovian Capital Corp. said Friday.

Frazer was chairman of the board of Jovian subsidiary Leon Frazer & Associates Inc., and Canada’s longest serving investment manager.

Shortly after World War II, Frazer joined the firm his father Leon built. He spent the next nearly seven decades shepherding his clients’ assets based on Leon Frazer’s fundamental investment principles: investment in good companies that sustain and increase their dividends over time.

Frazer assumed the role of chairman of Leon Frazer in 1961 after his father passed away. He grew his team from just five investment counsellors in 1947, to a team of 35 employees and approximately $2.1 billion in client assets under management today.

Frazer and deputy chairman William Tynkaluk contributed a combined total of 122 years of market experience and institutional memory to the organization.

In 1952, Frazer co-founded the Investment Counsel Association of Canada (now Portfolio Management Association of Canada), an organization whose current membership is responsible for managing over $750 billion in client assets.

For his long service to the financial services industry and his achievements while managing the IA Clarington Canadian Conservative Equity Fund, Frazer was bestowed the 2006 Career Achievement Award at the Canadian Investment Awards.

“George Frazer is remembered for his great legacy of total commitment to client satisfaction,” noted Mark Arthur, CEO of Leon Frazer. “He never wavered from his goal of always ‘doing what’s right for the client,’ and he always urged his team to stay singularly focused on that principle,” Arthur added.

Frazer was an avid sailor, and served as a Rotarian for over four decades, active until his passing. He leaves behind his wife, Elizabeth, daughters Anne and Jacqueline, and son, Bruce.