Rapidly expanding Cape Cove announces acquisition of WealthTerra Capital Management IncPublished on November 21 2018
Deal solidifies Cape Cove’s position as a national Canadian company after just two years
Montreal, Ottawa, Calgary, Vancouver: Cape Cove, a rapidly emerging portfolio management firm, is pleased to announce the acquisition of Western Canada’s WealthTerra Capital Management Inc., which further builds on Cape Cove’s expansion to a national organization from its home office in Montreal, Quebec. The deal has been agreed upon in principal and is subject to approval by the Alberta Securities Commission and the Autorité des marchés financiers.
In a very short time, Cape Cove has quickly grown to now include 42 representatives across the country. Cape Cove specializes in exempt markets, mutual funds and discretionary portfolio management.
“When we decided to increase our presence in Western Canada, we were targeting potential suitors that had the same values as Cape Cove. We found exactly that in Nadine Wellwood and her WealthTerra team,” says President and CEO Robert Audet,
“Nadine will continue with Cape Cove as an advisor and will also assume the role of Executive Vice-President (Western Canada). Her main focus will be to help develop the representative and investor base primarily in Alberta and British Columbia.”
Robert Audet holds his MBA in international finance from Université Laval and York University and has worked in the international interbank area of foreign exchange (FX) markets for more than 30 years. Audet has worked with recognized financial institutions such as the Toronto Dominion Bank, the Union Bank of Switzerland, Crédit Lyonnais, the Royal Bank of Canada and the National Bank of Canada.
Nadine Wellwood is a Level 1 Certified Financial Planner and holds the Chartered Investment Manager (CIM) designation and brings her entire team of private capital market advisors to Cape Cove. She has tremendous passion and a deep knowledge of the industry.
“This deal is an excellent opportunity to build something special in this market space, and although it will not be under the banner of WealthTerra, I am sure we will leave our mark. Cape Cove and WealthTerra share many common goals. My advisors and I are all very excited to be joining such a wonderful group of professionals,” says Wellwood.
About Cape Cove
Coming from the foreign exchange market, Cape Cove is an emerging portfolio management firm that has been offering traditional and alternative investment solutions since 2016. Cape Cove continues to expand its services with the addition of a highly experienced and seasoned team of exempt market and mutual fund dealing representatives to complement its team of advising representatives from the Portfolio Management division These complimentary divisions create a unique and dynamic firm whose multi-disciplinary culture makes it possible to provide added value to its clients. Team members firmly believe that their vast expertise maximizes the chances of success and reduces the volatility and risk in clients’ portfolios.
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