Sutherland argues that despite the wider range of services that a bank firm would technically have in house, an independent firm like CG can suit clients better. He notes that those clients are still immensely bankable, and his move away from Wood Gundy would have no impact on their ability to access additional financial services from any institution. In fact, there are more options available to Sutherland and many of his clients now, namely in the realm of investment product and the far wider shelf that an independent firm can access.
As for why he chose Canaccord, Sutherland claims that a cultural fit was foremost in his mind. He says that CG offered him “an entrepreneurial culture that was focused solely on wealth.” He saw management asking questions about the client experience, how to make that better, how to provide better planning, how to provide better market access.
He saw, as well, a firm that seems to be getting ahead of changes to client expectations. He sees clients turning to their advisors to help with the intergenerational wealth transfer asking for services beyond just investment management. At CG Sutherland says he found investments in the estate and tax planning supports, as well as avenues to build and maintain external partnerships with lawyers and other professionals who can help execute on his clients’ needs.
Without discussing specific details, Sutherland says that CG also offered him a transition plan that would allow him to support his team effectively. He says that his new firm also gives his four associates a platform to grow and advance their own careers from. Canaccord also offered Sutherland the capacity to be directly US licensed as well as integrated capital markets presence in the UK and Australia. For some of Sutherland’s clients who are looking to sell their businesses, the global connections CG offers can serve to furnish introductions and opportunities.
Tech tools played a role in his decision, too, as did the fact that CG is publicly listed. Sutherland says that the firm’s transparency to investors was a major factor influencing his decision to choose Canaccord over another independent dealer. The final factor, for Sutherland, was the fact that the firm is opening a new physical office in Ottawa, something that he views as a commitment to the region and the community.
