Toronto, November 16, 2020 – GMP Capital Inc. (GMP or the Company) (TSX: GMP) announced today that effective immediately, Richardson GMP Limited, now a wholly-owned subsidiary of the Company, will carry on business under the name Richardson Wealth and Patrimoine Richardson in the anglophone and francophone markets, respectively.
Recognized as one the leading independent wealth management firms in Canada and a Great Place to Work™, Richardson Wealth will build on the 90-year history of the Richardson brand in financial services to capitalize on opportunities in a dynamic and fast-expanding wealth management industry that is expected to grow to $7.7 trillion by 2028, up 75% from approximately $4.4 trillion currently.
"We are proud to be associated with the iconic Richardson brand" said Kishore Kapoor, President and Chief Executive Officer of GMP, the parent company of Richardson Wealth. “For us, the power of the Richardson Wealth name is symbolic. It not only marks a new name; a new beginning; a new insignia; it represents a name on the door that promises adherence to the values, long standing traditions and high standards that Canadian families expect from guardians of their wealth."
Andrew Marsh, Richardson Wealth’s President and CEO said, “It was imperative that our new name and logo mirror the evolution of our wealth management business and outwardly project our association with the rich 90-year legacy of the Richardson brand in financial services. Our new name best represents the firm’s future and our commitment to continue supporting the strong community of Canada’s top advisors and their clients who call Richardson Wealth home.”
Later this month, GMP Capital Inc. will be renamed RF Capital Group Inc. To learn more about Richardson Wealth and the Richardson brand please visit www.RichardsonWealth.com and for RF Capital Group Inc. visit www.rfcapgroup.com.
ABOUT GMP CAPITAL INC.
GMP (soon to be renamed RF Capital Group Inc.) currently operates through two business segments: Operations Clearing and Wealth Management; and a Corporate segment. Operations Clearing, through RF Securities Clearing LP (formerly GMP Securities L.P.), provides carrying broker services to Richardson Wealth and other third parties, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services, and other expenses associated with providing such services. Wealth Management consists of GMP’s wholly owned subsidiary Richardson Wealth. Richardson Wealth is one of the largest independent wealth management firms in Canada with $29 billion of assets under administration (as at September 30, 2020) and 19 offices across the country. The firm’s growing roster of Advisor teams (164 as at September 30, 2020) focus exclusively on providing strategic wealth advice and innovative investment solutions customized for each high net worth or ultra-high net worth client family, entrepreneur or business owner. GMP is listed on the Toronto Stock Exchange under the symbol “GMP”. For further information, please visit our corporate website at www.rfcapgroup.com.
ABOUT RICHARDSON WEALTH
The next generation of wealth.TM
One of Canada's leading independent wealth management firms, Richardson Wealth provides strategic wealth advice and innovative investment solutions customized for high net worth and ultra-high net worth families and entrepreneurs. The firm is committed to maintaining exceptional fiduciary standards and has earned certification – determined annually – from the Center for Fiduciary Excellence for the Separately Managed and Portfolio Management Account platforms. Richardson Wealth has also been recognized as a Great Place to Work™ for the past three years. For further information, please visit our corporate website at www.RichardsonWealth.com.
For Further Information Please Contact:
GMP Capital Inc.
Rocco Colella, Managing Director, Investor Relations
Tel: (416) 941-0894;
firstname.lastname@example.org or email@example.com