Canvas Wealth joins Q Wealth Partners

Partnership also features the launch of Q's first satellite office in Calgary

Canvas Wealth joins Q Wealth Partners

Q Wealth Partners has announced its newest and largest collaboration to date with the addition of Canvas Wealth.

Based in Calgary and managing $630 million dollars of client assets, Canvas has joined the rapidly growing Q Wealth Partnership from a major bank-owned brokerage. Formerly known as The CM Group, the Canvas Wealth team brings a 40-year legacy of delivering financial planning and wealth management services to affluent individuals and families across Canada.

Colin Andrews, Steven Molina and the CM Group team worked with Q Wealth to plan and launch the Canvas Wealth re-brand, adopt a 21 century technology platform integrated directly with National Bank’s Independent Network, while simultaneously planning the ambitious transition – leaving both the bank and CIRO behind to join the OSC registered Portfolio Management Partnership at Q Wealth.

Andrews, Managing Partner and Senior Wealth Advisor at Canvas Wealth, said: “This marks our return to independence. Our team, with a history that began at McLeod Young Weir, reached a pivotal moment where we realized our relationship with the bank-owned broker-dealer no longer aligned with our vision. By joining Q Wealth, we gain the autonomy to serve our clients without distractions, leveraging advanced tools and technology to aim to provide the highest level of service. This change reinforces our commitment to putting our clients’ needs first.”

By joining Q Wealth, Canvas Wealth have the infrastructure to operate as an independent wealth management firm, while simultaneously benefiting from a co-operative structure where partners don’t just have a voice, they are the owners of the firm.

Steven Molina, Partner at Canvas Wealth, added: “Q Wealth enables us to focus entirely on our clients, offering us the freedom to tailor solutions while helping to shape the tools and technology that power our business. This partnership aligns with our values and enhances our ability to meet the evolving needs of our clients.”

Stephen Gasparek, Chief Marketing Officer & Head of Partnership Development at Q Wealth Partners, highlighted the importance of this milestone: “This is a landmark deal for our Partnership. The addition of Canvas Wealth to the Q Wealth network represents more than just geographic expansion. It’s a testament to our shared values and vision for the future of wealth management. Together, we’re setting a new standard for personalized, wealth advisory services across Canada. Colin and Steve are the quintessential Q Wealth Partners, aligned perfectly with our corporate culture and family values. We are so excited to have them on our team”

The move reflects broader changes afoot in the Canadian wealth management industry. Q Wealth CEO, Jared Rabinowitz recalls a panel discussion the firm hosted at the 2024 Future Proof festival in Huntington Beach. There, thought leaders discussed the wave of change sweeping northward from America. “As we spoke about the coming of the US RIA revolution to Canada, I had a big smile on my face the whole time, knowing that Canvas was just months away from breaking away from the bank with our help. This is the second such team we’ve empowered to make the move this year from the ‘Big 5’.

“We are witnessing a significant shift as advisors turn away from traditional insurance and bank-owned broker-dealers. Moves like this were once considered risky and challenging, but with the aid of specialized teams, technology and quite frankly a much better value proposition for clients and advisors alike, Q Wealth is redefining expectations. Transitions are just the beginning; the resources and collaborative culture Partners gain when they join the Partnership are the real secret. This isn’t just independence, it’s independence supported in a way that hasn’t been found in Canada until now.”

For Canvas Wealth, the decision to join Q Wealth was driven by a desire for greater autonomy, support and alignment with their core values.

Andrews said: “Throughout our history, our clients’ needs have always been our top priority. The ability to operate independently, with the backing of Q Wealth’s infrastructure, allows us to deliver more effective and personalized solutions. This change is about dedicating ourselves fully to our clients’ goals and leveraging cutting-edge tools to meet their expectations.”

Q Wealth and Canvas have set up a brand-new office in the cutting-edge Ampersand Building in Calgary. This dynamic space epitomizes the novel spirit of the Q Wealth Partnership - bristling with innovations not normally seen in an office complex - and represents a new chapter for both firms. The space is designed to house the Canvas Wealth team, along with a raft of incoming Q Wealth Partners landing in 2025. It will be a truly co-operative space for one of the industry’s most co-operative firms, making Calgary the de-facto Western Canada hub for Q Wealth.

“We’re incredibly excited to join forces with Q Wealth Partners and embrace this next phase of our journey,” said Molina. “This partnership provides the foundation for growth and innovation, ensuring we remain a trusted partner in serving our clients for years to come.”

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