Toronto-based Waypoint Investment Partners Inc. has officially opened its doors, the asset-management firm announced on Thursday.
Industry veterans Michael Tait and Bill Webb opened the firm in partnership, adopting the roles of CEO and chief investment officer, respectively. The Waypoint partners have approximately $50 million invested with the firm.
Their aim is to bring unique and proprietary products and services to family offices and high net worth individuals that the founders struggled to find for themselves.
Prior to Waypoint Investments, Tait was a co-founder of Genuity Capital Markets (which sold to Vancouver-based Canaccord Financial) and was managing director of Toronto-based UBS Securities Canada.
Webb retired in December 2015 from his role as executive vice president and chief investment officer of Toronto-based Gluskin Sheff + Associates Inc.
“The feedback we have received has been unanimous — families either want a steady stream of cash from their investments — or see these investments continuously compound. But in all cases, they want to protect their wealth,” Webb says.
Adds Tait: “Our aim is to offer Canadians the same distinct and differentiated strategies we have been using to create superior risk-adjusted returns for our own families — and to do so in an aligned fashion such that we own what our clients own and pay identical fees.”
Earlier this year, the firm added portfolio manager Ryan Marr to its team of 12 investment professionals. Marr spent the last 10 years at Gluskin Sheff.
Waypoint is a member of the Portfolio Management Association of Canada and is registered as a portfolio manager and exempt market dealer in several Canadian provinces.