Purpose Financial announces the launch of Harness Investment Management and partnership with Welch LLP to streamline wealth management for its clients

    5th November, 2019

    Purpose Financial is pleased to announce the launch of Harness Investment Management Inc. (Harness) and its partnership with Welch LLP’s new Family Wealth Management Group. Through this partnership, Welch LLP will be able to deliver to its clients a holistic and streamlined wealth management experience, integrating its existing tax and estate planning capabilities with the investment management expertise of Harness.

    Harness Investment Management is a new portfolio management firm focused on partnering with professional services firms looking to offer or enhance their existing wealth management service to better serve affluent families, corporations and trusts across Canada. Harness leverages the award-winning portfolio management capabilities of Purpose Investments to develop robust investment solutions for its clients while operating on Purpose Advisor Solutions’ industry-leading turnkey wealth platform. The platform automates and streamlines advisor workflows for organizations like Harness Investments, so they can scale their business and focus on what is most important to them — strengthening client relationships. Clients of Harness benefit from a modern client experience from digital onboarding to robust online digital reporting.

    The partnership between the companies addresses the needs of clients who work with multiple advisors, providing the alignment necessary to create a sound financial plan.

    “We have seen that professionals with different expertise, whether it be in accounting, tax, insurance, or investments, do not always work together effectively nor do they understand the whole financial picture of the client.”, said Gary Hsu, CEO of Harness. “Yet we have seen that affluent families have concerns or challenges that often touch more than one of those areas, so it leaves the client to evaluate advice from different sources and try to put it all together in a comprehensible way.”

    The integration of all financial services under one roof eliminates the potential for uneven decision-making, and allows for the easy exchange of information, leading to better decisions and a simplified client experience.

    “We are paying attention to our clients’ wishes and are expanding our service offering to meet their needs,” Said Micheal Burch, Managing Partner of Welch LLP. “Under this new arrangement with Harness, all our experts are integrated in the delivery of the most efficient and tailored solution to a family’s financial well-being.”

    “Purpose Investment’s approach to investment management is to deliver to clients a solution that fits with the broader wealth plan,” said Som Seif, President and Founder of Purpose Investments. “It’s about understanding your personal goals and risk profile and being enabled to make better decisions and managing those risks with an institutional-quality investment plan.”

    Harness Investment Management has offices in Toronto and Vancouver. Welch LLP has 12 locations, including Toronto and Ottawa.

    About Purpose Financial
    Purpose Financial is an independent financial services company with an unrelenting focus on customer-centric innovation, delivered through technology-driven solutions. Led by entrepreneur Som Seif, the company is developing a diversified product platform aimed at addressing historically underserved segments of the market. Purpose Financial’s businesses includes Purpose Investments, Purpose Advisor Solutions, Purpose Banking Solutions, which includes Thinking Capital and Ario, and Purpose Strategy & Innovation Labs, its fintech innovations group.

    Purpose Advisor Solutions
    Purpose Advisor Solution’s end-to-end solution simplifies advisors’ practices and makes it easier to give clients what they need and expect — honest, independent advice and a seamless service experience. In addition to an innovative, modern technology platform and robust portfolio management, Purpose Advisor Solutions offers access to practice management and consulting to ensure a successful transition and ongoing development of advisor practices.

    Welch LLP
    Welch LLP is a firm that is committed to being relevant for the future by ensuring our clients get the advice they need to grow their business and provide for their families. As a strong independent CPA firm, we provide a full range of accounting, assurance, tax, advisory, and specialty services. Welch offers private enterprises, government, and not-for-profit organizations industry specific services and knowledge with a relationship-driven approach to client service. Welch has locations throughout Ontario and Quebec.

    Thanks for reading Mark Ting @MarkTingCFP
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