Strategic Growth and Steady Planning in Victoria

At Nicola Wealth’s recent Market Insights event in Victoria, clients were invited to take a closer look at how the firm is navigating new policy risks, global realignment, and sector shifts. The theme of the evening, Defense by Design, highlighted the importance of being proactive rather than reactive in today’s fast-moving environment.

Wealth Advisor | Client Relationship Manager, Chris Warner, opened the event with reflections on the past year and the value of staying focused on what can be controlled. His remarks helped set the stage for an evening that balanced macroeconomic insights with a local lens on investment strategy and client outcomes.

This year’s event placed particular emphasis on how Nicola Wealth’s investment approach translates across asset classes and geographies, including a growing presence in the Victoria region.

Local Real Estate as a Long-Term Strategy

True diversification goes beyond public markets. Nicola Wealth incorporates private real estate as a core component of its multi-asset strategy, offering clients exposure to long-term growth opportunities, recurring income, and a broader risk profile than traditional equities and fixed income alone.

Vice President, Real Estate Investments and Portfolio Strategy, Shaun Blythen, provided an in-depth overview of Nicola Real Estate’s development activity across Greater Victoria, with over 800 homes currently in progress. Projects include a landmark rental tower under construction in Chinatown, a mixed-use development on Cook Street, and a multi-phase residential site in Saanich, each reflecting a commitment to long-term, income-producing assets in undersupplied markets.

“These are tightly held areas where vacancy has hovered below one percent for years,” Blythen noted. “New supply is essential, and it’s not easy to deliver. From land acquisition to completion, we’re often working on five- to seven-year timelines.”

Blythen also shared insights on the region’s industrial market, where the Nicola Real Estate team is helping meet demand from small business owners through stratified industrial condos in Langford and Colwood. “It’s a part of the market where ownership has traditionally been out of reach,” he said. “We’re building to close that gap.”

Nicola Wealth’s real estate platform spans multi-family, industrial, and seniors’ housing, with a focus on long-term fundamentals, stable income generation, and enhancing portfolio diversification.

A Data-Driven Investment Lens

Ben Jang, Portfolio Manager and Investment Strategist, addressed how Nicola Wealth is navigating a market environment shaped by elevated valuations, evolving U.S. tax policy, and renewed trade tensions. Rather than responding to short-term signals, the firm is emphasizing asset class diversification and portfolio consistency.

Jang illustrated how differences in portfolio design, especially in how risk is managed, can impact client outcomes over the long term. He highlighted current portfolio positioning that includes exposure to dividend-paying equities, defensive credit in fixed income, and a modest overweight to regions less affected by current trade policy shifts.

“It’s not only about targeting growth,” he said. “We also want to reduce the impact of volatility on portfolio withdrawals, especially for clients drawing income in retirement.”

Infrastructure’s Role in a Changing Environment

Ashley Ng, Senior Director, Head of Infrastructure Investments, spoke about the firm’s growing exposure to this asset class through Nicola Wealth’s private capital platform. She explained how infrastructure can provide stability and inflation protection due to its essential nature and long-term contractual structures.

“Many of the investments in [Nicola Wealth’s infrastructure] portfolio deliver services like heating, energy, or transportation,” said Ng. “These tend to be less sensitive to short-term market cycles and provide predictable revenue streams.”

One example is Cordia, a district energy platform serving institutional clients such as hospitals and universities across the U.S. With operations tied to local demand and contracts that incorporate inflation-linked pricing, the investment demonstrates how infrastructure can support portfolio resilience.

Regional Growth, National Strategy

The evening’s panel discussion, moderated by Wealth Advisor | Client Relationship Managers, Kerry Foord and Rob Gareau, addressed client questions on important topics such as artificial intelligence, long-term interest rate trends, and how ongoing U.S. policy changes could affect Canadian investors. Across asset classes, the discussion emphasized the importance of staying grounded in strategy and focused on what can be controlled.

Vice President of Private Wealth, Cameron Smith, closed the evening by acknowledging the steady growth of Nicola Wealth’s presence in Victoria. “This region has become an important part of our broader footprint,” he said. “From the strength of our advisory team to the investment we’re making in long-term real estate [in some of our Nicola Wealth real estate LPs], we’re deeply committed to supporting clients here.”

As the economic landscape continues to evolve, the takeaway for many in the room was clear. While uncertainty may persist, a disciplined, well-diversified approach, grounded in thoughtful planning and careful execution, can offer both resilience and clarity. Nicola Wealth’s continued investment in the Victoria region reflects that philosophy in action, combining national perspective with a strong connection to local opportunity.

Prefer to listen? Tune into the full conversation, recorded live, on the Wealth Exchange podcast.

Want to stay informed? Subscribe to receive our latest insights.