Director/portfolio manager, private client group
First Avenue Investment Counsel
Age: 33
Years in the industry: 11
David Spencer is a firm believer that to be a successful portfolio manager, you need to go beyond traditional investment management. For him, holistic services are fundamental to success. “Advisors/PMs must marry a sound investment and asset allocation strategy with comprehensive financial planning, which encompasses a client’s personal and financial goals and objectives,” he says. “The successful advisor of tomorrow must be able to seamlessly incorporate in-depth retirement planning, tax planning and will/estate planning into all of their work with clients.”
Spencer traces his interest in wealth management to his parents. His father was an accountant, and his mother taught English as a second language. “The dual importance of financial literacy and effective communication was instilled in me at a very young age,” Spencer says. “I have always been passionate about finance, but I also love interacting with and helping people, so private client wealth management was a natural fit.”
Since he joined First Avenue Investment Counsel in 2016, Spencer has seen it grow from approximately $300 million in AUM to close to $1 billion. “The opportunity to work with and learn from the incredible people at our firm is something I am incredibly grateful for, and that has undoubtedly fast-tracked my personal and professional development,” he says. “I strongly believe that First Avenue can become one of the premier wealth management and family office firms in Canada. I am excited to be an integral part of that growth.”
