Wellington-Altus eyes further 'parabolic growth' with $40 million investment

The second-round growth equity investment will accelerate the ambitious firm's plans

Wellington-Altus eyes further 'parabolic growth' with $40 million investment
Steve Randall

Wellington-Altus Financial Inc., parent to the eponymous Canadian wealth management firm, has raised $40 million in a second-round equity investment from The Cynosure Group.

The funding will enable the firm to accelerate its plans following ‘parabolic growth’ in recent years, achieving AUM of more than $25 billion in only six years, which Shaun Hauser, founder & CEO of Wellington-Altus sees as just the beginning.

"We've experienced tremendous growth over the past six years, and this investment enables us to bring even more outstanding wealth management practices into the fold," he said. "We are fortunate to have an experienced, quality partner in this venture with Cynosure – an organization that uniquely understands the dynamics of the business and the importance of delivering an unparalleled experience to our clients and advisors."

Cynosure holds a 15% stake in Wellington-Altus, while 70% is held by the firm’s partners, a key component of its strong culture.

"With our sights set on our next medium-term goal of $50 billion in assets, this marks an important inflection point in our company," says Wellington-Altus founder & chair, Charlie Spiring. "Cynosure has been an amazing partner on our journey, and this huge vote of confidence bolsters our rock-solid balance sheet and helps propel our growth to the next level."

Founded in 2017, Wellington-Altus Financial is the parent company to Wellington-Altus Private Counsel, Wellington-Altus USA, Wellington-Altus Insurance, Wellington-Altus Group Solutions, Wellington-Altus Asset Management, and Wellington-Altus Private Wealth.