Julie Gallagher has been named the next president and CEO of Richardson Wealth, taking the reins from Dave Kelly, outgoing president and CEO of RF Capital.
Gallagher brings 20 years of experience in the financial services sector, starting as a lawyer. She was most recently senior vice-president and head of investment products and solutions and capital markets at iA Wealth, and joined the firm in 2021 as chief compliance officer.
She will oversee a period of transition for Richardson, which was acquired by iA Financial in October. As part of the acquisition, iA agreed to retire the Richardson name within 30 months.
Kelly will remain vice-chair until the end of June to assist with the transition, and will remain a director after that.
In a release, Stephan Bourbonnais, executive vice‑president, iA Wealth, said Gallagher will provide strategic direction, drive the firm’s growth and strengthen its support for its advisory teams.
“As we continue our expansion in the wealth management space, Julie possesses precisely the right combination of skills, experience and continuity we need,” Bourbonnais said. “With iA now positioned as Canada’s largest independent wealth management firm, we are establishing a new standard in client service and advisor support by elevating the value proposition for advisors and deploying innovative, industry-leading platforms powered by artificial intelligence.”
The deal brought an additional 142 advisor teams and more than $43 billion in assets under administration to iA with a focus on the high-net-worth segment. The acquisition cost $691 million, with advisor retention costs factored in.
Bourbonnais previously confirmed that iA intends to keep its Richardson Wealth, Investia and iA Wealth channels distinct.
Before joining iA, Gallagher was senior compliance director with National Bank Financial. She also spent nearly a decade with BMO Financial Group as lead attorney. She has also served in various roles, including president of the Quebec district council, for more than a decade at the Canadian Investment Regulatory Organization and its predecessor IIROC.
Her responsibilities as vice-president had been expanded in recent months to include support for Richardson’s advisory teams.
“I am thrilled by the opportunities ahead as we enter a dynamic new chapter for our combined organization,” Gallagher said in a release. “It is a privilege to succeed Dave Kelly, an exceptional leader who has helped lay a strong foundation for the firm’s future. I am also honoured to continue working alongside the Richardson Wealth advisory teams and to further strengthen the exceptional culture they have built.”