The move is part of a strategy to grow Forstrong to at least $3 billion in ASG by the end of 2024, reports Tyler Mordy, CEO and Chief Investment Officer of Forstrong. The firm was founded in 2001 and specializes in active, low-volatility, globally diversified investment strategies for financial institutions and individual investors.
Shaunessy Investment Counsel (SIC), a portfolio management firm, was founded in 2000 by Terry Shaunessy.
“We have always been a great admirer of this company,” says Tyler Mordy, because the teams share values and investment philosophies and have complementary skills. “They overlap well with our view of how investments should be managed. »
SIC specializes in customized, globally balanced and diversified portfolios for clients with over $5 million to invest, and has been providing investment management services to Yukon First Nations since 2008. This acquisition will allow Forstrong to enter the ultra-high net worth segment “in a significant way,” says Tyler Mordy.
Terry Shaunessy joined Forstrong as a portfolio manager and member of the investment committee. CIS president James Garcelon joined Forstrong as president, replacing Tyler Mordy in that role. James Garcelon will be responsible for the company’s operations, compliance and customer experience, while Tyler Mordy will continue to lead the investment team and business development.
The third member of the SIC team, Vice President of Administration Katharine Eirich, will support the transition over the next few months before leaving the company. There will be no changes to Forstrong’s current staff, the company said in a statement.
Tyler Mordy called the SIC transaction a “first flight” after the management buyout of Forstrong in November 2021, when the company acquired iA Financial’s 73.3% stake with the backing of a group of investors. independent.
He said Forstrong’s growth plan involves continuing to grow its sub-advisory and institutional businesses, pursuing further acquisitions and expanding its investment strategies beyond the global macro approach. diversity for which the company is traditionally known.
“Our fundamental vision is to be a niche independent with an emphasis on our specialty, the active global macro approach, specifies Tyler Mordy. Our goal is not to compete with the banks, but to partner with them. »