I created TURN8 Partners in 2012 because the evolution of the financial world had far outpaced the investment options that were available to wealthier Canadian families.
At the time, my career had been split between the two worlds of investing: institutional and retail. During the first half of my career, I specialized in risk management and capital markets at big banks and investment firms, while completing my CFA designation and Master’s degree. It was fascinating to see the evolution in investing, the markets, and the layers of intelligence placed on controlling risks in that world. With the goal of taking this expertise to help families with their investments, I then made the switch to become a portfolio manager at a bank-owned brokerage firm. Through these experiences, it became clear to me that there is a gap between the level of sophistication in the back-office and what’s being offered out front. TURN8 Partners, a private discretionary solution for wealthier families, was created to bridge that gap.
The support of my clients in the launching of TURN8 was paramount. They also saw that the cookie-cutter offerings at the larger investment houses didn’t give them what they were looking for, including independent advice, more prudent strategies to grow their wealth, and improved value. A nimble, private firm could offer them something more: differentiated offerings, emphasis on risk management, and modern investment strategies.
Our first year in business saw the firm’s managed assets double, and we have been expanding significantly ever since. Most of our new business has come from high net worth families, who are counting on us to protect and grow their nest egg, in addition to young, driven professionals who are growing their asset base.
As we grew, we also identified significant challenges faced by individuals and businesses straddling the border. We became one of a few portfolio management firms licensed with the Canadian and U.S. regulators. This gives us a unique ability to hold accounts in both countries and navigate the complexities that dueling legislation presents for Canadians living in the States, Americans in Canada, and their connected corporate structures. After tackling this cross-border gap, we added the ability to house accounts in the Channel Islands for Ultra High-Net Worth clients living abroad.
We also felt a need to address the scarcity of choices and independent advice for alternatives to stocks and bonds in Canada. Our belief is that diversification across a range of alternative investments is vital for investors. To that end, we launched an alternative strategy consisting of private debt, private equity, infrastructure, market neutral, and other investments that are uncorrelated with the markets to better protect and grow wealth. We take a different approach on the equities side as well: we start with a more traditional, long-term investment approach of owning quality stocks but then layer on more tactical and nimble strategies to better handle rapidly evolving markets.
Since our doors opened, we have continued to push the boundaries of what we can offer, and I’m backed by a strong team that works fluidly to cover every aspect of our clients’ investment needs, from portfolio management to retirement, business exit, or estate planning.
Please don’t hesitate to give us a call to chat about what we can do for you.
Craig McFadzean, MBA, CFA
President & Founder