2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Nicola Wealth Management is founded, with six people and $80 million in assets under management
1994
How an advisor found his true calling
“Get up early, get your work done, then the rest of the day is yours.” This simple quote is one that has guided Alan O’Brien, one of Nicola Wealth’s wealth advisors, throughout his career. “I learned at a young age that you have to wake up and complete the tasks at hand – there just wasn't the option not to do the work,” he said.
It was this hard-work ethos – coupled with a little bad timing and some fortuitous luck – that helped O’Brien navigate a career interrupted by the global financial crisis to find his true calling in a new country, on a new career path.
Growing up in rural Ireland working on farms, O’Brien always dreamed of being an investment banker. After graduating with his bachelor’s degree, he believed
he'd won the golden ticket – a place in CitiBank’s graduate banking program in London, England. However, the universe had other plans, and the 2008 financial crisis hit, taking the golden opportunity with it.
Not one to give up easily, O’Brien pursued a master’s degree before taking a back-office job at another big bank. “I had a Sliding Doors moment,” he said, referring to the 1998 romcom that explores how simply missing a train can change a person’s life. “I was 22 and was speaking with an older colleague. This colleague said, ‘If you work hard, in 10 years you could have what I have,’ and I remember being terrified that that was what I could become – working 14 hours a day in a job that paid well but wasn’t fulfilling.”
Noticing he wasn’t happy, O'Brien’s girlfriend suggested a change. Together they decided to move to Canada, and, with backpacks and a little money in the bank, they made the move. Like many newcomers, O’Brien was initially turned down for a series of jobs despite an impressive resume, so he took a job stocking grocery store shelves before finally landing a temp job at a financial firm. It wasn’t long before his work ethic brought him to the attention of a colleague who recommended he apply at Nicola Wealth.
At Nicola Wealth, he found a career with more purpose. Starting on the trading desk, he ultimately decided to retrain and focus on two things he had always enjoyed – financial planning and helping people. He credits a lot of his success in wealth management to the mentorship and support he received from Nicola Wealth’s CEO, John Nicola. Working directly with him, O'Brien took every learning opportunity he could get. “To get the chance to work directly with a firm’s senior partners or chief executives is practically unheard of in our industry. There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance.”
Wealth has doubled in both assets under management and headcount in the last three years. John Nicola credits this success not just to the firm’s investment model, but also to its client and staff retention rates as the business continues to build a culture of giving back with employees, clients, and the community.
“At Nicola Wealth, we’re more focused on supporting people and building a team than an obsession with metrics, like assets under management,” says O’Brien. “With incentives like profit sharing and the opportunity to be a shareholder in the firm, everyone can succeed together, and I think you create a certain culture in that environment. It’s no secret that we believe culture breeds performance, and to succeed as an organization, you must have a group of people who strive for what’s possible while having aligned values that propel the business forward. You really have that feeling that we’re all in this together.”
When asked about his proudest moment, O’Brien remembers working with a client who had had a heart attack and experienced insurance issues during his recovery. “He was the kindest person, who just had some unfortunate things happen. We spent a lot of time helping him, got his insurance sorted – and at the end, he was in tears thanking us. We were
there for him and his family in their time of need. We didn’t do much, but it’s just caring for people that means the most.”
This value system has also built a culture of giving back, encouraging staff to take time to be a part of the charities and causes they care about, and sees the firm donating a percentage of profits to charitable organizations. “It’s essential to share the culture, vision, and values of your firm – that can’t be forced or faked,” says O'Brien. “Together, we’re working to build the gold standard for asset management and financial planning in Canada, and that means sharing our success with everyone around us to achieve a stronger outcome.”
Spotlight
Nicola Wealth works to attract entrepreneurial advisors with a desire to build a business collectively; many who have become frustrated with being a cog in a machine have found success at Nicola Wealth. O’Brien’s drive to learn continuously and find new ways to better serve his clients and the community was a perfect fit.
“If you want to build your book and grow your business, the firm will provide the support and the opportunity to get there. On the other hand, if you want to pursue management or switch careers, like I did, moving from trading to advisory, they will also support you and provide training and mentorship to help you reach your goals. You just have to be motivated and put in the work,” says O'Brien. “There’s always a pathway to where you want to go, and Nicola Wealth will try its best to get you there.”
As one of Canada’s fastest-growing independent wealth-management firms, Nicola
Nicola Wealth is an independent wealth-management firm dedicated to serving the needs of high-net-worth families, entrepreneurs, institutions, and accomplished individuals of all professions. The firm services clients across Canada, with offices in BC and Ontario, and is responsible for over $12.7 billion in AUM, investing in a range of asset classes including hard-asset real estate, private equity, private debt, and commercial mortgages. It has been recognized as one of Deloitte’s Best Managed Companies (Platinum Member), Canada’s Top 100 SME Employers, BC’s Top Employers, and was named Employer of Choice 2022 by Wealth Professional. For more information, visit www.nicolawealth.com
Company Profile
55%
Proportion of women in leadership
99%
Client retention rate
8
Years as winner of Canada’s Best Managed Companies
7
Advisors in Wealth Professional’s Top 50 Advisors 2022
7
Years as winner of Canada’s Top Employers
Bio
Spotlight
Milestones
Media
Accolades
Company Profile
Years of Experience
12 years
Tenure at current position
5 years in current position as a wealth advisor and 3.5 years as a portfolio trader at Nicola Wealth
Favourite quote
“Absorb what is useful, reject what is useless, add what is essentially your own”
Alan O’Brien
wealth advisor and client relationship manager at Nicola Wealth
A “Sliding Doors moment,” and a willingness to put people first, led Alan O’Brien of Nicola Wealth to a thriving new career in a new country
Read on
“There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance”
Alan O’Brien,
Nicola Wealth
“This colleague said, ‘If you work hard, in 10 years you could have what I have,’ and I remember being terrified that that was what I could become”
Alan O’Brien,
Nicola Wealth
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
How an advisor found his true calling
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
At Nicola Wealth, he found a career with more purpose. Starting on the trading desk, he ultimately decided to retrain and focus on two things he had always enjoyed – financial planning and helping people. He credits a lot of his success in wealth management to the mentorship and support he received from Nicola Wealth’s CEO, John Nicola. Working directly with him, O'Brien took every learning opportunity he could get. “To get the chance to work directly with a firm’s senior partners or chief executives is practically unheard of in our industry. There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance.”
Nicola Wealth works to attract entrepreneurial advisors with a desire to build a business collectively; many who have become frustrated with being a cog in a machine have found success at Nicola Wealth. O’Brien’s drive to learn continuously and find new ways to better serve his clients and the community was a perfect fit.
“If you want to build your book and grow your business, the firm will provide the support and the opportunity to get there. On the other hand, if you want to pursue management or switch careers, like I did, moving from trading to advisory, they will also support you and provide training and mentorship to help you reach your goals. You just have to be motivated and put in the work,” says O'Brien. “There’s always a pathway to where you want to go, and Nicola Wealth will try its best to get you there.”
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
When asked about his proudest moment, O’Brien remembers working with a client who had had a heart attack and experienced insurance issues during his recovery. “He was the kindest person, who just had some unfortunate things happen. We spent a lot of time helping him, got his insurance sorted – and at the end, he was in tears thanking us. We were there for him and his family in their time of need. We didn’t do much, but it’s just caring for people that means the most.”
This value system has also built a culture of giving back, encouraging staff to take time to be a part of the charities and causes they care about, and sees the firm donating a percentage of profits to charitable organizations. “It’s essential to share the culture, vision, and values of your firm – that can’t be forced or faked,” says O'Brien. “Together, we’re working to build the gold standard for asset management and financial planning in Canada, and that means sharing our success with everyone around us to achieve a stronger outcome.”
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
1983
Proportion of women in leadership
99%
Client retention rate
8
PROPORTION OF WOMEN AMONG FUNDSERV EMPLOYEES
7
PROPORTION OF WOMEN IN LEADERSHIP
63,514,128
NUMBER OF ORDERS PROCESSED IN 2019
“There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance”
Alan O’Brien,
Nicola Wealth
“This colleague said, ‘If you work hard, in 10 years you could have what I have,’ and I remember being terrified that that was what I could become”
Alan O’Brien,
Nicola Wealth
Years of Experience
12 years
Tenure at current position
5 years in current position as a wealth advisor and 3.5 years as a portfolio trader at Nicola Wealth
BAsed In
Toronto, Ont.
Fast Facts
“Absorb what is useful, reject what is useless, add what is essentially your own”
Karen Adams
President and CEO at Fundserv
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
Share
Share
2017 Hot List Recipient
2020 Hot List Recipient
2021 CEO of the Year
Accolades
Media
Milestones
2011
2012
2015
2016
2019
2021
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2012
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2015
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2016
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2019
Curabitur feugiat eget leo id tempus. Maecenas commodo, nibh at ultricies pulvinar, ipsum erat porta metus, et tempus justo tellus euismod dolor.
2021
How an advisor found his true calling
Karen Adams has had a remarkable journey to her current role as CEO of Fundserv. Originally from Toronto, Adams earned a bachelor’s degree in mathematics and economics at Queens University, followed by an MBA in international finance at the University of British Columbia. After graduating, she set off across the globe, holding various positions with HSBC that took her to London, Dubai, Hong Kong, Beijing, Shanghai, Seoul and Mumbai.
That global experience gave Adams a unique perspective, prompting her to develop a leadership style that’s based on developing relationships with each individual, listening and understanding to help them reach their potential. That approach goes well beyond her own team, allowing Fundserv to succeed in creating solutions for its members.
“Having worked in many different countries, people ask if I am an expert in multicultural leadership,” Adams says. “I always say there is no such thing because that assumes you manage people based on their background. I have learned that people all want the same things: to develop our careers, give our kids a good future, etc. When she returned to Canada learned that people all
Noticing he wasn’t happy, O'Brien’s girlfriend suggested a change. Together they decided to move to Canada, and, with backpacks and a little money in the bank, they made the move. Like many newcomers, O’Brien was initially turned down for a series of jobs despite an impressive resume, so he took a job stocking grocery store shelves before finally landing a temp job at a financial firm. It wasn’t long before his work ethic brought him to the attention of a colleague who recommended he apply at Nicola Wealth.
At Nicola Wealth, he found a career with more purpose. Starting on the trading desk, he ultimately decided to retrain and focus on two things he had always enjoyed – financial planning and helping people. He credits a lot of his success in wealth management to the mentorship and support he received from Nicola Wealth’s CEO, John Nicola. Working directly with him, O'Brien took every learning opportunity he could get. “To get the chance to work directly with a firm’s senior partners or chief executives is practically unheard of in our industry. There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance.”
Nicola Wealth works to attract entrepreneurial advisors with a desire to build a business collectively; many who have become frustrated with being a cog in a machine have found success at Nicola Wealth. O’Brien’s drive to learn continuously and find new ways to better serve his clients and the community was a perfect fit.
From those forums, a common theme arose that has plagued the industry for years: the amount of paper required in transactions.
“We have a motto to ‘axe the fax,’ and we saw this opportunity where members didn’t want their staff going into the office, but there are still physical cheques going back and forth,” Adams explains. “We put in place, in just six months, Ad-Hoc Money Movement [A$M]. We responded to the industry and are in the process of replacing cheques, which I think is awesome. We launched in January and have seen so much volume. We think ultimately we are keeping people healthier by not having to travel into the office.”
Another recent initiative Adams has been happy to spearhead tackles an issue the entire world is seeking to address: racial justice.
While she’s proud of the strides Fundserv made in 2020, Adams acknowledges that it was a challenging time as a leader. Not only did she have to ensure Fundserv kept running efficiently as her team transitioned to working from home, but she was also filled with concern for her team members.
“I just worried about our employees, their mental health and if they would be OK,” Adams says. “I like to see people, so I set up one-on-ones just to connect with them.
Moving forward, Adams says Fundserv’s goals remain aligned with those of its members, and her team will continue listening and understanding what members need so the organization can evolve accordingly. She adds that she wants Fundserv to be so good at providing a secure and reliable service that members forget it’s there – and she wants the company to continue to inspire change in the industry.
“It is sad that it took a pandemic to recog-nize the cheque issue and solve it,” Adams says. “What we will do in the future is root out those things in the industry and not wait for a pandemic to ignite change. There is no reason we can’t change. Change, like auto-mation, will accelerate from now, and we’ll do our part to keep it going.”
Spotlight
Fundserv is the indispensable connectivity hub for the Canadian investment industry. Headquartered in Toronto, we electronically connect Manufacturers, Distributors, and Intermediaries, enabling them to buy, sell, and transfer investment funds. With more than 100 employees, Fundserv serves hundreds of members—executing up to 63 million yearly network transactions—and provides online access to more than 70,000 investment fund products.
Established in 1993, Fundserv is a private corporation that is owned by the industry we serve. Our 10 shareholders are a cross-section of Manufacturers, Distributors, and Service Providers who represent our members.
We operate using a cost-recovery model, meaning any unused profit may be rebated back to our members. In addition to our network and applications, we lead and facilitate industry committees and working groups that promote automation initiatives and establish the industry’s electronic standards.
By ensuring every trade is processed timely, accurately, and securely, Fundserv has rightfully earned a reputation for service excellence—a hallmark of more than 25 years in the investment industry.
Company Profile
Years of Experience
12 years
Tenure at current position
5 years in current position as a wealth advisor and 3.5 years as a portfolio trader at Nicola Wealth
BAsed In
Toronto, Ont.
Fast Facts
“Absorb what is useful, reject what is useless, add what is essentially your own”
Karen Adams
President and CEO at Fundserv
Career highlight
Before becoming CEO of Fundserv, Karen Adams held a variety of leadership roles around the world – and she learned that listening and understanding are key to both providing service and developing talent
Read on
“There’s no way I would be here if I hadn’t met John. I don’t know what I would be doing, but I wouldn’t be working in finance”
Alan O’Brien,
Nicola Wealth
“This colleague said, ‘If you work hard, in 10 years you could have what I have,’ and I remember being terrified that that was what I could become”
Alan O’Brien,
Nicola Wealth
IN Partnership with
In Partnership with
In Partnership with
1994
2011
2015
2020
2021
2022
Nicola Wealth Management is founded, with six people and $80 million in assets under management
1994
Becomes fastest-growing investment counsel firm in Canada, with asset growth over 39% (Strategic Insights) and CEO John Nicola Wins Ernst & Young Entrepreneur of the Year Award (Financial Professional Service, Pacific Region)
2011
Wins Canada’s Best Managed Companies award from Deloitte and CEO John Nicola wins Business in Vancouver, BC CEO of the Year Award
2015
Wins Canada’s Top Small and Medium Employers award for fourth year in a row, secures Gold Status among Canada’s Best Managed Companies by Deloitte, and has five advisors among Wealth Professional’s Top 50 Advisors
2020
Acquires Blackwood Real Estate Partners and wins Canada’s Best Managed Companies award from Deloitte, Canada’s Top Small and Medium Employers, and Wealth Professional’s 5-Star Brokerage
2021
Acquires Levine Financial Group, wins Platinum Status among Canada’s Best Managed Companies from Deloitte, and CEO John Nicola wins Ernst and Young Entrepreneur of the Year Award
2022
Milestones
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News
Your Practice
Investments
Resources
Best in Wealth
Subscribe
Companies
About us
Privacy
Terms of Use
RSS
People
Newsletter
Authors
Contact us
External contributors
Copyright © 1996-2022 Key Media Pty Ltd
Nicola Wealth Management is founded, with six people and $80 million in assets under management
1994