Date: February 16, 2022
View Press Release as seen on Financial Post
Vancouver, British Columbia – February 16, 2022 – Harbourfront Wealth Holdings Inc. (“HWH Inc.”) parent company to Harbourfront Wealth Management (“Harbourfront” or the “Company”) and other subsidiaries, today announced its results for the quarter and full-year ended December 31, 2021.
For the year, HWH Inc. reported a revenue increase of 45% to its board of directors and shareholders received their annual dividend in November of 2021. For the quarter, the company’s revenue growth increased by 41.3%
Harbourfront maintained a 100% advisor retention rate as well as added a steady stream of new advisory teams to the firm, which resulted in a 52% YOY increase, for the quarter and full year, in AUA (assets under administration), a big increase from 2020. The revenue and AUA increases resulted in the strongest earnings year yet for the group.
The Company employs 202 employees operating out of 24 locations across the country.
“The Harbourfront Group has continued to attract accomplished advisor teams, due to its unique client solution offerings, consistent results, and corporate culture, and as a result has significantly increased asset and revenue growth during 2021. Expectations for growth in 2022 also remain high as further offerings are in the pipeline as well as planned expansion in several provinces,” says Lynn Stibbard, CFO of Harbourfront Wealth Management.
“Our explosive growth with profitability is a testament to advisors wanting to leverage state-of-the-art technology, along with exclusive and innovative pension-style solutions. This is key to becoming exceptional fiduciaries to clients. The pandemic identified various gaps in the marketplace and left Canadians with heightened fear and limitations and as a result, we expanded our investment shelf to alleviate concern resulting in an upswing of new advisors and clients,” says Mark Pinto, President of Harbourfront Wealth Management.
About Harbourfront Wealth Management
Harbourfront Wealth Management is a Canadian-owned independent advisory firm servicing growth-oriented advisors and high-net-worth clients. Founded in 2013, the company is headquartered in Vancouver, BC, and has a rapidly growing network of 22 branches across Canada. It is a member of the Harbourfront Group of Companies, which also encompasses a sub-advised Canadian Asset Management firm specializing in alternative investments, and Harbourfront Wealth America, a US registered investment advisor.
Learn more: harbourfrontwealth.com
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