Canaccord Genuity Wealth Management
David LePoidevin’s numbers are eye-catching: $1.7 billion in AUM (the highest among this year’s Top 50 Advisors) and more than 2,000 clients. While his success is certainly no flash in the pan – LePoidevin began his career as an investment advisor the day after his last economics exam at university – he says the 2008 financial crisis was a turning point in his career.
“In 2007, I wrote a client letter titled ‘Credit Crunch,’ where I outlined the cracks in the US mortgage market,” he explains. “I positioned the clients in a very defensive position with a high weighting to bonds and cash. In March, I wrote ‘Stock Downright Cheap’. My clients were in a position to buy. I had so many referrals in 2009 because of the client experience.”
LePoidevin’s hands-on portfolio management has delivered strong risk-adjusted returns through many market cycles, and 2022 poses new investment challenges such as high stock valuations and an inflation rate not seen in decades.
“This could challenge conventional wisdom and may require some contrarian positions,” he says. “The goal for the coming year remains the same – strong risk-adjusted returns.”
When the market crashed at the beginning of the COVID-19 pandemic, LePoidevin sent a letter to all clients that outlined six previous pandemics and how the market had rebounded five times – and every time within 18 months. He advised clients not to panic and did a lot of hand-holding over the subsequent months. He said: "2021 was a stellar year for my clients as we manage through this ongoing pandemic.”