Cardinal Point, a well-known wealth management firm, is now growing rapidly in Canada. The company is focusing on expanding its services, especially for people who need help with cross-border financial planning. This includes Canadians and Americans who live, work, or invest across both countries. In a recent move, the company announced new partnerships that will help it grow further. It is also offering more services to professional athletes, particularly NHL players. These steps are aimed at helping clients better manage their wealth across borders.
Michael Nathanson, CEO of Focus Financial Partners, praised Cardinal Point’s direction. He said the company is in a strong position to grow and take the lead in Canada. Focus Financial Partners supports Cardinal Point and sees it as a hub for financial services. According to Nathanson, Cardinal Point will now expand its range of services and improve how it serves clients. This is especially useful for people who need support in cross-border wealth planning.
Cross-border wealth management is becoming more important. More Canadians are looking for financial firms that can help with complex issues. This includes taxes, asset planning, and financial advice for people who work or invest in both the U.S. and Canada. In an email statement, the CEO of Cardinal Point confirmed this trend. He mentioned that more clients are demanding expert advice in these areas.
Cardinal Point is not new to growth. In 2021, it joined hands with Gavin Hockey Wealth Specialists, a Toronto-based firm. Gavin is well-known for serving about 200 active and retired professional hockey players. These clients often need financial advice related to income, taxes, and investments in both Canada and the U.S.
Gavin’s private counsel division, GMG Private Counsel ULC, merged with Cardinal Point in May 2024. This merger helped Cardinal Point grow its assets under management to nearly $2.9 billion. That’s a huge number and shows just how fast the company is expanding.
Last month, Cardinal Point made another big move. It became a partner of Gelfand, Rennert & Feldman, LLC. This is another firm known for working with high-profile clients. These include celebrities, musicians, executives, and athletes. This new partnership is the fourth major expansion move by Cardinal Point in recent years.
The company sees a big opportunity in serving professional athletes. NHL players, for example, mostly play for teams based in the U.S. But many of them are Canadian or have assets and families in Canada. This creates a complex situation for taxes, investments, and long-term financial planning. Cardinal Point’s team has special expertise in solving these issues.
Sheldon, a key executive at the firm, shared that the professional athlete division is growing fast. He said this part of the business has seen major success and will continue to expand in the coming years.
Cardinal Point’s growth reflects a bigger trend in the wealth management industry. More clients are now looking for firms that can handle complex financial needs. These include cross-border taxes, estate planning, and retirement services. People with high incomes or international assets want expert advice that fits their unique situations.
Focus Financial Partners, the parent company of Cardinal Point, works with many different kinds of clients. These include people from the entertainment industry such as musicians, actors, and TV professionals. They also work with executives, social media influencers, and wealthy individuals. The goal is to offer personal and smart financial solutions that match each client’s lifestyle and goals.
The rise of Cardinal Point shows how important cross-border expertise has become. As more people live and work in multiple countries, they need advisors who understand the laws and tax rules of each place. Cardinal Point is filling this gap and becoming a trusted name in the process.
With over $2.9 billion in managed assets and growing partnerships, the company is now one of the leaders in this field. Whether you’re a pro athlete, a business owner, or someone planning retirement across borders, this firm is building the tools and team to guide you forward.