Practice: O’Connor Engelbert Investment Group
Firm: Richardson GMP
Location: Vancouver, BC
Rory O’Connor is making his debut on WP’s Top 50 Advisors list at the number 17 spot. O’Connor, who specializes in ultrahigh- net-worth clients, committed to the industry after getting a positive early impression. “I had a chance to work at Merrill Lynch, the gold standard in wealth management in the ’90s,” he says. “I quickly fell in love with the business.”
Today, O’Connor has surpassed the half-billion mark in AUM; he currently manages more than $503 million. “Reaching $500 million in AUM, while also being very diligent in how we built the business, focusing exclusively on the UHNW market, makes me proud,” he says. “Approximately 80% of our AUM is represented by roughly 30 key clients."
O’Connor identifies the biggest challenges for advisors as fee compression and the need to demonstrate and defend a unique value proposition – something he’s been able to do successfully. “Performing exceptionally well for our existing clients inevitably results in being introduced to others,” he says. “Our goal is to bring on three to five new UHNW clients each year.”