The firm has told this news service that it aims to disrupt and revolutionize the Canadian wealth sector which it says, in some ways, has lagged behind its US neighbor.

Canada’s Wellington-Altus – a wealth management firm interviewed by this news service in March – has surpassed the C$30 billion ($21.9 billion) mark for assets under administration, about $20 billion more than its 2020 figure.

Wellington-Altus has a medium-term goal of reaching $50 billion of AuA.

The business was founded in April 2017 with a view to disrupting traditional wealth management in Canada, a sector that has been dominated by large banks. In some ways, the Canadian wealth industry lags behind that of its US neighbor, according to Shaun Hauser (pictured), founder and CEO.

In December 2023, the business – headquartered in Winnipeg, Manitoba – obtained C$40 million in a second-round growth equity investment from Salt Lake City-based The Cynosure Group, a private equity firm. Cynosure previously invested in the firm in 2021. In early January this year, Wellington-Altus appointed Steph Condra as chief experience officer.

Wellington-Altus has more than 110 advisor teams, 820 employees and 53 offices in Canada. Most of the shares in the company (70 per cent) are held internally.