This article originally appeared in Wealth Professional
Firm believes it's 'finally landing' with a platform that can scale the business
Private Financial Group (PFG), a Windsor, Ontario-based high-net-worth business has joined Q Wealth Partners after being voted into its Portfolio Management Partnership.
“PFG came to us seeking solutions for their high net-worth client base,” said Jared Rabinowitz, founding executive partner, Q Wealth Partners. “The solutions that they initially sought focused on additional sophistication with financial planning and risk mitigation, but as talks continued, expanded to our portfolio construction solutions regarding pension and endowment fund solutions including private credit and equity, liquid alternatives, hedging strategies, and US based client needs.”
Peter Dobrich, Principal Partner at PFG is a published author and industry veteran, who has carefully cultivated the “Private” brand. Fabien Ouellette, currently a registered portfolio manager with Q Wealth, will join the PFG team to provide portfolio management functions directly to PFG clients as they onboard.
“Coming to Q Wealth feels like finally landing with a platform that understands what it means to provide wealth management to a high net-worth client base,” stated Dobrich.
“From a portfolio construction standpoint, this is a major step forward in terms of the sophistication of what we bring to clients. I now have fixed-income solutions that actually solve the challenging interest rate environment of today, and the ability to deliver a client technology experience that we believe is second to none in the industry.”
Clive Cholerton, executive partner Q Wealth Partners, added that while there was a clear philosophical connection between Q Wealth and Private, the latter’s holistic planning process was unscalable on an ongoing basis.
“Lack of scale was a huge pain point for the firm,” agreed Dobrich. “We simply were not willing to sacrifice the scope of our client deliverables, but that came at the expense of growth. Joining Q Wealth, it’s no longer an ‘either/or’ proposition; the game has changed, and the potential is now unlimited. Beyond the support for scaling up systems, business development and marketing to attract new clientele, we expect increased wallet share from our existing insurance-only and mutual fund clients to drive significant growth powered by the strength of the Q Wealth offering. Overall, we feel that this was a client driven decision while respecting our need to stay independent as we embrace the evolution of financial planning”
The PFG announcement continues the accelerating growth curve for Q Wealth. It expects to add at least one more firm prior to year-end and, Cholerton added, additions booked well into 2022.