TORONTO, Jan. 5, 2023
/CNW/ - Richardson Wealth Limited (Richardson Wealth), a wholly
owned subsidiary of RF Capital Group Inc. (TSX: RCG) (RF Capital),
and Fidelity Clearing Canada ULC (FCC) are proud to announce
Richardson Wealth's successful transition to FCC's back office and
adoption of uniFide®, FCC's leading advisor technology
platform.This strategic agreement fuels the digital transformation
of Richardson Wealth and accelerates the ambitious growth plans of
both companies.
FCC's innovative uniFide® platform provides
Richardson Wealth investment advisors with a suite of configurable
tools to improve both the advisor and client experience. FCC will
provide custody, clearing and trade settlement services for
Richardson Wealth.
"Richardson Wealth and Fidelity Clearing Canada are a natural
fit — we share an entrepreneurial heritage from our founding
families and a long-term vision based on continuous innovation,
agility, deep experience and knowledge," said Kish Kapoor,
President and Chief Executive Officer of RF Capital.
"Our two businesses already have a strong working relationship
and complementary corporate cultures, which has helped Richardson
Wealth transition to FCC's uniFide technology platform," added
Scott MacKenzie, President, Fidelity
Clearing Canada.
Richardson Wealth investment advisors manage $34.9 billion in client assets (as of
December 31, 2022). Fidelity Clearing
Canada, together with Fidelity Investments Canada ULC, have over
CA$265 billion in assets under administration and management (as of
January 4, 2023).
"Fidelity Clearing Canada has invested significantly in
developing client-centric wealth management solutions," said
MacKenzie. "With Richardson Wealth, we bring our expertise and
technology solutions to their investment advisors that provide the
tools to manage and grow their unique business and provide
excellent service to their clients." This new partnership adds
significant scale to FCC and solidifies their position as one of
the leading providers of trade execution, clearing, custody and
back-office support in the Canadian investment services market.
With uniFide® advisors gain access to a range of
powerful capabilities such as end to end digital account opening,
straight-through processing, trading and reporting on client
accounts, and much more.
"At Richardson Wealth, our advisors are our clients. We are
committed to giving them the best tools so they can provide the
best service to their clients. Being able to leverage the
capabilities of a world-class industry leader is a perfect example
of how we deliver on our promises and our three-pillar growth
strategy. In 2022, we deferred advisor recruiting until we
completed this conversion, and will now accelerate our bold and
ambitious plan to become the brand of choice for Canada's top advisors and their clients,"
Kapoor further commented.
This conversion is the result of more than 18 months of
dedicated work by a team of over 100 people and involved extensive
input from Richardson Wealth advisors.
"The culture at Richardson Wealth is to listen closely to
advisors," said David Porter,
Portfolio Manager and Investment Advisor. "Dozens of us were
consulted along every step of this transition, and our feedback was
critical to shaping the future of our business."
About RF Capital Group
Inc.
RF Capital Group Inc. is a TSX-listed (TSX: RCG) wealth
management-focused company. Operating under the Richardson Wealth
brand, the Company is one of the largest independent wealth
management firms in Canada with
$34.9 billion in assets under
administration (as of December 31,
2022) and 20 offices across the country. The firm's Advisor
teams are focused exclusively on providing strategic wealth advice
and innovative investment solutions customized for high net worth
or ultra-high net worth families and entrepreneurs. The Company is
committed to maintaining exceptional fiduciary standards and has
earned certification – determined annually – from the Center for
Fiduciary Excellence for its Separately Managed and Portfolio
Management Account platforms. Richardson Wealth has also been
recognized as a Great Place to Work™ for the past three years, a
Best Workplace for Women, a Best Workplace in Canada and Ontario, a Best Workplace for Mental Wellness,
for Financial Services and Insurance, and for Hybrid Work. For
further information, please visit www.rfcapgroup.com and
www.RichardsonWealth.com.
About Fidelity Clearing Canada
ULC
Fidelity Clearing Canada (FCC), a leading provider of custody
and clearing services, provides robust, flexible, and scalable
solutions to registered broker/dealers, portfolio managers, and
investment advisors. Clients rely on us for expertise in wealth
management, technology, trading, and business transition, which
gives them the freedom to focus on what they do best – helping end
investors achieve their financial goals. Fidelity Canada is one of Canada's Top 100 Employers for 2022, one of
Greater Toronto's Top Employers
for 2022, and one of Canada's Top
Employers for Young People for 2022. For more information, please
visit https://clearing.fidelity.ca
SOURCE Richardson Wealth