Vancouver-based Credential Financial Inc. Tuesday announced the launch of Credential Correspondent Partners as a division of Credential Securities Inc.
Credential says this expansion is in response to the market need for a provider of custody and trading services for portfolio managers and independent wealth management firms.
According to recent Investor Economics research, over the coming decade, the high-net-worth segment will register the fastest growth in numbers and dollars controlled compared to all other segments.
“With the market trends and growing needs of our clients, expanding our services to the portfolio management market is a natural extension of Credential’s business,” said Doce Tomic, president & CEO, Credential
“By providing credit unions with access to several of Canada’s leading and most well-respected independent asset managers, the launch of Credential Correspondent Partners represents an important development in the evolution of the Credential platform,” said Earl Bederman, president, Investor Economics.
Credential has hired Kevin Vanderheyden as senior vice president and Chris Chen as vice president of Credential Correspondent Partners – both veterans in the Canadian financial services market.
Credential is a wealth management firm with serving over 225 credit unions and independent wealth management firms.