Reid McLaren returns to Canada as relationship manager at Designed Wealth Management

Exploring the dynamic shifts within the financial services sector, this piece highlights notable career transitions, shedding light on the experiences of professionals who have recently moved within the industry.

Reid McLaren has navigated a significant life transition in recent years, marked by changes in his career, relocation, and personal milestones such as marriage and fatherhood. These experiences are expected to enrich his new role as a relationship manager at Designed Wealth Management in Toronto, a position he commenced earlier this month.

McLaren's journey back to Canada began when he and his wife, Dr. Tyrelle Hunt, a physician, decided to relocate from the United States. Dr. Hunt had completed her residency in Detroit and accepted a position at a clinic in Southern California. During this time, McLaren explored opportunities in wealth management in the U.S., leveraging his nearly 14 years of experience at the Canadian Imperial Bank of Commerce (CIBC). However, he encountered obstacles due to the stringent visa policies imposed by the Trump administration.

With the birth of their first child in November 2024, McLaren took on the role of a stay-at-home dad for the first 15 months of his son's life. “It was quite a change from working full-time to being a full-time dad. But I took it head-on and it was a lot of fun,” he reflects.

Late last year, the couple opted to return to Ontario, citing the uncertainty surrounding their U.S. work visas and a desire to be closer to family and friends. “Being close to family and friends was definitely a big part of the decision,” says McLaren, who is currently in Toronto while his wife finishes her work commitments in California. They plan to move to Belleville, Ontario, this summer.

Upon deciding to relocate, McLaren began networking with financial firms in Toronto, which ultimately led him to Designed Wealth Management, a firm focused on independent wealth management for investment advisors and portfolio managers. His prior contacts at the company and a search for a workplace that offered a hybrid model and an entrepreneurial culture were key factors in his decision.

“What attracted me to Designed is its adaptability and agility, where the leaders empower people the right way to deliver services for advisory teams and their clients,” he explains. He values the diverse exposure to various facets of the wealth business, contrasting it with the more specialized roles often found in larger firms.

While McLaren misses the California climate, especially during harsh winter storms in March, he is enthusiastic about reconnecting with colleagues in Canada’s financial sector. “I’m very excited to start working with advisors and helping them build their business,” he adds.

Career Changes in the Financial Sector

The financial services industry is marked by continuous evolution, with many professionals seeking new opportunities that resonate with their career aspirations and personal values. McLaren is not alone in his transition; others are also making notable moves within the sector.

For instance, Brent Gillis recently made a career switch, joining Harbourfront Wealth Management Inc. in Vancouver as vice-president of operations and transitions. He describes this new role as a chance to contribute significantly to a “rapidly growing firm” with a strong cultural alignment.

“I have the ability to create greater change and have greater influence because of the pace at which they’re changing and growing,” says Gillis, who previously spent five years at Nicola Wealth Management Ltd. and nearly a decade at Connor, Clark & Lunn Financial Group.

Gillis emphasizes the importance of relationships in navigating career changes. “It’s the relationships you form along the way that will serve you well throughout your career; you just don’t know when or how,” he advises. He encourages advisors to step outside their comfort zones and invest in their potential, asserting that challenging oneself can lead to both personal and professional growth.

Noteworthy Industry Movements

As professionals like McLaren and Gillis transition within the financial landscape, several other significant moves have occurred recently, highlighting the ongoing dynamism in the sector. Here are some key transitions:

• Imran Chaudhry has joined RBC Insurance as senior director and head of trading, previously serving as vice-president and senior portfolio manager at Fiera Capital Corp., where he managed $9 billion in assets.
• Adam Mamdani has returned to Sun Life Assurance Co. of Canada as senior vice-president for distribution and channel management, retail advice, and solutions after a stint at RBC Insurance.
• Zainab Williams, a certified financial planner and founder of Elleverity, launched FundEvolve, a platform designed to help Canadians navigate financial advice and decision-making amidst the often conflicting information prevalent online.

Leadership Changes within Financial Firms

In addition to the movements of individual professionals, organizational shifts are also taking place within the financial services industry. After a six-month executive search, Peter Moores will lead the Canadian operations of Raymond James Financial Ltd. He takes over from interim CEO Paul Allison, who stepped in following the unexpected departure of former CEO Jamie Coulter.

Similarly, Julie Gallagher, an executive from iA Financial Group Inc., will assume the role of chief executive officer of Richardson Wealth Ltd., a position that comes after iA's acquisition of the firm last summer.

Networking and Relationship Building in Financial Services

As professionals transition in their careers, the significance of networking and relationship building cannot be overstated. Engaging with peers, mentors, and industry leaders can open doors to new opportunities and foster collaboration within the financial services sector.

• Leverage social media: Platforms like LinkedIn can help professionals connect with industry peers and stay updated on trends.
• Attend industry events: Networking events, conferences, and seminars provide valuable opportunities to meet potential collaborators and mentors.
• Join professional organizations: Becoming a member of relevant associations can enhance credibility and expand networking possibilities.
• Seek mentorship: Establishing relationships with seasoned professionals can provide guidance and support as you navigate your career.

As the financial services industry continues to evolve, professionals who actively cultivate relationships and embrace new opportunities will likely find themselves in advantageous positions. Whether it’s through personal growth or strategic career moves, the journey within this sector remains dynamic and full of potential.