This article originally appeared in Wealth Professional
Partnership with $280 million AUM operation includes Vancouver Island company's first 'breakaway bank advisor'
Precision Wealth Management (PWM) has joined the Q Wealth Partnership, with the $280 million AUM firm representing Q Wealth’s initial foray onto Vancouver Island.
“The core philosophy of PWM is that we are always pursuing that next advantage for the client,” Cliff Broetz, founding partner, said in a release. “Without question, Q Wealth and its ability to instantly move us from MFDA registration to Portfolio Manager, coupled with its futuristic technology offering continues that pursuit.”
PWM has already recruited its first “breakaway bank advisor”, with Natalie Holloway joining from RBC. Once fully transitioned, PWM expects to manage assets north of $350 million.
“Without the move to Q Wealth, landing Natalie would have been impossible. Aside from the regulatory issues, leveraging the client experience that Q Wealth has built was an overriding element that sealed the deal,” said Iwona Nicastri, partner of PWM. “Her clients will experience the unparalleled advantage of a financial plan transitioning imperceptibly into the portfolio.”
Jared Rabinowitz, founding executive partner of Q Wealth, said Precision is a model firm on which Q Wealth’s partnership is designed: leading by planning, actively looking to grow, and demanding to act as a fiduciary and discretionary portfolio manager.
“Our core value prop to partner firms is to improve their client experience, their infrastructure, grow the firm, and ultimately increase the value of the practice itself. With PWM, we are confident we’ll hit on all four of those. That’s a nice feeling.”
“Precision joining the partnership continues our aggressive, while selective, growth strategy,” added Stephen Gasparek, Executive Partner and Chief Marketing Officer of Q Wealth. “Our threshold for joining the partnership is rigorous, and Precision met all the criteria. At the end of the day, we need to know that Q Wealth will be stronger for bringing in another firm, that the firm itself will be stronger for joining the partnership, but most importantly, the clients of Precision will be better served.”
