Announcement:
OUr New Partnership

A Message from the CEO and the President of RaeLipskie

June 27, 2022

Over the past 33 years, we have worked with you, our clients, to provide independent, unbiased investment advice and guidance. Today, we are very pleased to provide news of an exciting development here at The RaeLipskie Partnership. As part of our ongoing succession plan, we are announcing a partnership with Guardian Capital Group Limited (https://www.guardiancapital.com/), whereby Guardian will acquire a majority ownership interest in RaeLipskie (subject to regulatory approval). Our founder, Ken Rae, will remain in a leadership role while transitioning his ownership stake to Guardian. Brian Lipskie, our President, will retain this position and continue to guide the company on a day-to-day basis while retaining a significant ownership interest. In addition, a group of senior staff and Portfolio Managers will acquire equity stakes in the company. Upon completion of the transaction, Guardian will hold a 60% equity interest in The RaeLipskie Partnership with our management holding the remaining 40% interest.

The RaeLipskie Partnership will remain as an independent entity, with our existing management and investment team, now backed by the significant depth and resources of Guardian. Guardian is a publicly traded company, listed on the TSX (Ticker: GCG and GCG.A, respectively), with an enviable 60+ year history, currently managing in excess of $50 billion in client assets. Guardian has a strong presence in both the institutional investment management business and the high net worth/private client business in Canada. The $1.1 billion in client assets under RaeLipskie’s management is expected to add meaningful scale to Guardian’s private client business.

https://guardiancapital.com/media/62218/guardian-capital-group-acquires-majority-interest-in-rae-lipskie-investment-counsel-inc.pdf

What does this mean for you?

  • Your investment team will now have access to the substantial investment resources and experience at Guardian, providing for a robust assessment of the investment landscape
  • Your investment team will have access to the broad investment product range offered by Guardian, providing the opportunity for further portfolio diversification
  • Importantly, there will be no change in your current investment team, including your primary and secondary Portfolio Managers and Client Service Associate
  • There will be no change in your investment portfolio or investment strategy
  • There will be no change in your investment management fee structure
  • There will be no change in the third-party custodian (i.e. National Bank Independent Network, Credential Securities, etc.) which holds your assets in safekeeping

This development is part of the natural evolution of The RaeLipskie Partnership. We firmly believe that this new partnership will result in a stronger, more robust and enhanced organization which will directly benefit you, our clients.

We look forward to speaking with each of you about this development. In the interim, please feel free to contact your Portfolio Management Team.

Sincerely,

Ken Rae, CFA

Chairman & CEO

 

Brian Lipskie, CFA

President & COO