Charlie Spiring of Wellington-Altus Private Wealth is part of this year's Wealth Professional Canada's Hall of Fame
Chairman
Wellington-Altus Private Wealth
Years as an advisor: 37
Aside from his standing as a veteran financial advisor, Charlie Spiring’s entrepreneurial spirit is what really sets him apart. Last year he launched Wellington-Altus Private Wealth, a name that will likely ring a bell with those familiar with Spiring’s career. He is perhaps best known as the founder of advisory firm Wellington West, which he eventually sold to National Bank Financial in 2011 for $333 million.
“I became fascinated with preserving capital and creating solid compound returns,” Spiring says, reflecting on the firm’s early days. “We also saw a big void in capital formation in Manitoba; therefore, at Wellington West, we created a connection between entrepreneurs and capital markets. It allowed a series of companies to grow into multi-billion-dollar corporations, which ultimately attracted the attention of National Bank.”
After the acquisition, Spiring joined the institution as a senior advisor, but the lure of running his own shop eventually proved too much, and he launched Wellington-Altus Private Wealth last summer. Now in the process of growing that company, Spiring believes today’s advisors are much more comprehensive in their approach than when he started in the business.
“The IIROC firms are substantially more professional, and continuing education is constantly improving investment advisors,” he says. “As much as we do not like the pendulum going too far, it has forced us to continually improve. The delegated models allow advisors more time to service families versus picking stocks.”
Another plus, in Spiring’s view, is the shift toward advisory teams, which allows for a greater level of specialization and enhanced service for clients. “Wealth management firms have raised the bar considerably through the use of the team concept,” he says, “incorporating services such as financial planning, estate planning, insurance planning, trust services, taxation advice and portfolio construction, to name just a few.”
Now in his 37th year in wealth management, Spiring has no intention of slowing down anytime soon, as the launch of his new firm attests. However, he does hope to see some changes made with a view to increasing efficiency across the industry.
“I would like to see advisor incorporation, common-sense compliance and the continual increase in technology usage as our friend,” he says. “If the industry has strong independent voices providing competition to the big banks, we will undoubtedly make it a better place for all consumers.”
Wellington-Altus Private Wealth
Years as an advisor: 37
Aside from his standing as a veteran financial advisor, Charlie Spiring’s entrepreneurial spirit is what really sets him apart. Last year he launched Wellington-Altus Private Wealth, a name that will likely ring a bell with those familiar with Spiring’s career. He is perhaps best known as the founder of advisory firm Wellington West, which he eventually sold to National Bank Financial in 2011 for $333 million.
“I became fascinated with preserving capital and creating solid compound returns,” Spiring says, reflecting on the firm’s early days. “We also saw a big void in capital formation in Manitoba; therefore, at Wellington West, we created a connection between entrepreneurs and capital markets. It allowed a series of companies to grow into multi-billion-dollar corporations, which ultimately attracted the attention of National Bank.”
After the acquisition, Spiring joined the institution as a senior advisor, but the lure of running his own shop eventually proved too much, and he launched Wellington-Altus Private Wealth last summer. Now in the process of growing that company, Spiring believes today’s advisors are much more comprehensive in their approach than when he started in the business.
“The IIROC firms are substantially more professional, and continuing education is constantly improving investment advisors,” he says. “As much as we do not like the pendulum going too far, it has forced us to continually improve. The delegated models allow advisors more time to service families versus picking stocks.”
Another plus, in Spiring’s view, is the shift toward advisory teams, which allows for a greater level of specialization and enhanced service for clients. “Wealth management firms have raised the bar considerably through the use of the team concept,” he says, “incorporating services such as financial planning, estate planning, insurance planning, trust services, taxation advice and portfolio construction, to name just a few.”
Now in his 37th year in wealth management, Spiring has no intention of slowing down anytime soon, as the launch of his new firm attests. However, he does hope to see some changes made with a view to increasing efficiency across the industry.
“I would like to see advisor incorporation, common-sense compliance and the continual increase in technology usage as our friend,” he says. “If the industry has strong independent voices providing competition to the big banks, we will undoubtedly make it a better place for all consumers.”
