Nicola Wealth Management has nearly $4-billion of assets under management. Serving high-net-worth families, the company has seen profit growth of around 25 percent per year, making it one of Canada’s fastest growing mid-size investment managers. The company, which employs more than 130 people, follows an investment philosophy based on diversified asset classes and income-producing products.
“One of the biggest factors in our success has been a tiered planning strategy. We have broken the business plan down into various tiers throughout the company – from senior management to individual staff – so that there is clarity around who is responsible for what. Another key to our success is sharing the pie. In the last few years our staff has received profit share that is equal to roughly 25 percent of their base salaries. This helps align everyone’s interests and fosters a great culture.
“One of the commonalities among some of the most successful companies is a work-class culture. There have been many studies that have looked at the relationship between that culture of a business – that is, the passion, satisfaction and happiness of those who work there – and the long-term performance of the business. There is no comparison: the performance of companies with amazing cultures is far superior.” – David Sung, president