VANCOUVER, British Columbia, May 30, 2022 (GLOBE NEWSWIRE) — The Harbourfront Group of Companies (“The Harbourfront Group”), including Harbourfront Wealth Management Inc. (“Harbourfront” or “The Company”), today announced its results for the first quarter ended on March 31, 2022.
For the quarter, The Harbourfront Group reported a revenue increase of 11% year over year (YOY) to its board of directors.
Harbourfront continues to maintain a 100% advisor retention rate and onboarded new teams in the first quarter, resulting in a 40% YOY increase in assets under administration (AUA), bringing the company’s total AUA to over CAD $4 billion and assets under management (AUM) to over CAD $1.7 billion.
“Harbourfront is continuing its growth trajectory by attracting astute advisors who recognize the value of the unique product offerings available to their clients through the firm, and this is reflected in the year over year growth,” says Lynn Stibbard, CFO of Harbourfront Wealth Management.
“With IA teams managing an average of CAD $182 million, we have created a think tank of high performing advisors who are focused on elevating the client experience,” says Mark J. Pinto, President and Director of Harbourfront Wealth Management.
“Our results continue to demonstrate that we have a winning formula – exclusive access to institutional investment vehicles for our clients and an advisor friendly platform with equity ownership in one of the most profitable independent dealers in Canada,” says Danny Popescu, CEO of Harbourfront Wealth Management.
“In addition, our tech initiatives, some new this year, make it easier for advisors to do business and we’ve architected an agile system that speaks to the quality of the advisors we attract.”
About Harbourfront Wealth Management
Harbourfront Wealth Management is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net-worth clients. Founded in 2013, the company is headquartered in Vancouver, BC, and has a rapidly growing network of 22 branches across Canada. It is a member of the Harbourfront Group of Companies, which also encompasses a sub-advised Canadian Asset Management firm specializing in alternative investments, and Harbourfront Wealth America, a US registered investment advisor.
Learn more: harbourfrontwealth.com