Performance figures for each account are calculated using time weighted rate of returns on a daily basis. The Composite returns are calculated based on the asset-weighted monthly composite constituents based on beginning of month asset mix and include the reinvestment of all earnings as of the payment date. Composite returns are as follows:

NWM CFO Mike Taylor Finalist for BIV’s “BC CFO of the Year”

BIV Staff

Source: Business In Vancouver

This profile originally appeared in BIV’s “CFO of the Year Awards” insert (May 3-9, 2011)

Michael Taylor

CFO and Chief Compliance Officer, Nicola Wealth Management

Michael Taylor, CFO and chief compliance officer of Nicola Wealth Management, began writing a newsletter for the company shortly after he joined. Entitled Kaizen, a Japanese word meaning to continuously improve, it is a philosophy he helps the firm successfully achieve every day.

Taylor’s role upon joining NWM was to determine the feasibility of expanding beyond the single pooled fund at the time into a series of proprietary pooled funds. Under his direction, NWM’s offering grew from a single $70 million fund to 11 funds valued at $635 million.

He spent months performing due diligence and research to prepare a report exploring the financial structures of proprietary funds; it would become the foundation for NWM’s expansion into fund manufacturing.

After crafting the financial structure that would allow the firm to become a successful fund manufacturer, he deftly handled a litany of risk management and compliance issues that not only improved NWM’s standing with the BC Securities Commission, but also allowed the firm to register as a portfolio manager, investment fund manager and exempt market dealer.

Since Taylor joined the company in 2007, NWM’s assets under management have grown from $635 million to $1.2 billion.

Additionally, Taylor was also responsible for the inception and structuring of NWM’s private equity limited partnerships Nicola Opportunities LP and Nicola Interactive LP, both of which allow clients to purchase smaller interests in deals normally restricted by million-dollar investment minimums.

John Nicola, chairman and CEO of NWM said, “While his skills and abilities have certainly elevated the firm’s business development, Mike is a consummate team player. His creative problem solving ability laid the groundwork for the firm’s future growth both financially and administratively, stewarding business initiatives that have brought both efficiency and scalability.”

Nomination remarks from nominator John Nicola, chairman and CEO, Nicola Wealth Management:

Why should this person be considered one of B.C.’s CFOs of the Year?

Michael Taylor has provided steady leadership, created innovative efficiencies, and has become a valued member of the firm’s senior management team and corporate culture. His skills and abilities have certainly elevated the firm’s business development.

How has the nominee demonstrated sound business ethics?

Part of Mike’s goal as CFO and chief compliance officer is to create, as he refers to it, “a culture of compliance within the firm.” There is no excuse for being sloppy and never a need to cut corners: “it is a false economy to think poor compliance is good business.”