Its recent growth partly coincides with regulators starting to audit the product shelves of firms to make sure they adhere to recent reforms
Amid industry-wide regulatory changes to the way investment products are recommended to Canadians, independent asset manager Capital Group Canada is seeing a surge in overall assets, doubling the number of client accounts as financial advisers look for alternative options to proprietary products.
Since then, the Toronto-based company has grown to about $23-billion in assets, as of June, 2022 – up over 55 per cent from $12.5-billion in 2019. At the same time, the number of client accounts have almost doubled, totaling more than 440,000, up from 230,000. Mr. Headrick said his company has seen an uptick in the number of financial advisers looking for non-propriety products for clients.
Unlike some of its competitors, Capital Group doesn’t maintain a local group of portfolio managers based in Canada. The 26 global offices collaboratively access a team of 340 portfolio managers and analysts located around the world to oversee a number of investment mandates. For example, its Canadian Equity Fund is managed by people in New York, San Francisco and Toronto.
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