Senior financial advisor and portfolio manager

Years in the industry: 30
Years as a PM: 3.5
Industry accreditations: CFP, CIM, CPCA, FCSI, CIWM
Typical clients: Cross-section of business owners, wealthy retirees and high-income earners

Michael Prittie is a portfolio manager at Mandeville Private Client, so it’s not surprising that alternatives are a major part of his investment strategy. Mandeville chairman and CEO Michael Lee- Chin is a noted disciple of bringing private equity to the masses – a belief Prittie also subscribes to. “Over the last decade, privates/ alternatives have produced some very rewarding benefits for my clients,” he says. “I am fortunate to have access to some world-class private/alternative solutions that have excellent income and stability, while others are focused on long-term growth.”

The bond markets are another area Prittie is increasingly fond of, given current stock valuations in North America. “Since January, we have been tilting our portfolios towards additional fixed-income investments,” he says. “Where new funds are not available or not sufficient, we are rebalancing – trimming some equity and buying private and public fixed-income solutions.”

This change in strategy comes as the main indices have reached record levels, but Prittie is preparing for stocks to hit a wall in the near future. “While I don’t believe anyone can time the market,” he says, “I feel now is an excellent time to rebalance portfolios back to their original targets – reducing equity and enhancing income – given the equity returns over the past eight years.”

Using a fee-based platform for his clients, Prittie believes recent moves by regulators to increase transparency are a step in the right direction, but that the industry still needs to do more to protect the interests of clients. “We need enhancement and further development of CRM2 to not only show what an advisor earns in trailing commissions,” he says, “but to also to show the client how much money is coming out of their pockets, whether through commissions, MERs, sales charges, fee-based costs and/or trustee fees.”

“While I don’t believe anyone can time the market, I feel now is an excellent time to rebalance portfolios back to their original targets, given the equity returns over the past eight years”

Company Information

  • Mandeville Private Client
  • 1565 Carling Avenue, Suite 610 Ottawa, Ontario K1Z 8R1

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