Leading independent dealer solidifies growth trend that's persisted for over 25 years
In spite of the impact of the COVID-19 pandemic, PEAK Financial Group has managed to preserve a decades-long winning streak by reaching a new summit in assets under management.
The leading Canadian independent dealer reported that its AUM rose 9.7% over the 12 months ended on August 31, bringing assets up to a new high of $11.4 billion. That does not include new advisors who joined PEAK during that period, and is solely from advisors who were already with PEAK in August 2019.
“Despite the pandemic that has battered the financial markets and personal finances of Canadians, PEAK's independent financial advisors continue to demonstrate the value of advice in both good and bad times,” PEAK Financial Group CEO Robert Frances said in a statement.
In the early aftermath of the COVID-19 pandemic, financial markets dropped precipitously to historic lows. As of March 23, the TSX 300 saw a YTD return of -34.3%, while the S&P 500 plunged 31.3%.
Over the same period, PEAK assets showed a return of -17.2%; as of August 31, the TSX was still in sub-zero year-to-date return territory at -3.4%, while PEAK assets reflected a 5.8% year-to-date return.
PEAK said that in the 28 years since it was founded in 1992, there have been only two years wherein it failed to set a new record in client AUM levels.
“For more than a quarter of a century, PEAK has continued to grow while remaining committed to independent financial advice, without investment product ownership ties,” Frances said. “We remain deeply committed to continue this growth and ensure that PEAK retains its place as a Canadian leader in true independent financial advice.”
