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Wellington Altus Private Wealth
Wellington Altus Private Wealth was founded in 2017 by Todd Degelman and Shaun Hauser, former executives at Wellington West Holdings, which was sold to...
Wellington Altus Private Wealth
Wellington Altus Private Wealth was founded in 2017 by Todd Degelman and Shaun Hauser, former executives at Wellington West Holdings, which was sold to National Bank Financial in 2011. The firm emerged from a vision to build an independent, advisor-owned wealth management platform in Canada, unburdened by the product-push conflicts that can characterize bank-owned investment dealers. The founders retained the 'Wellington' brand as a bridge to the entrepreneurial culture of their prior firm, while 'Altus' signaled a higher standard of client service. As a primarily advisory-focused firm, Wellington Altus aggregates assets through its network of independent investment advisors who provide access to a range of asset classes including private credit, real estate, hedge funds, and private equity, often using third-party fund structures. The firm operates a dealer platform that facilitates these alternative investments, alongside traditional managed accounts and securities trading. Unlike a single-family office or direct institutional investor, Wellington Altus functions as a conduit between high-net-worth Canadian clients and alternative asset managers, a model that has driven its rapid growth through advisor recruitment across Canada, with significant presence in Toronto and Western Canada. By 2023, Wellington Altus had grown to oversee more than $30 billion in client assets (per the firm's official communications, 2023), making it a significant force in Canadian independent wealth management. The firm's rapid scaling has been fueled by a combination of organic growth and aggressive recruitment of advisory teams departing bank-owned firms. September 2023: The firm reported surpassing $30 billion in assets under administration, a benchmark that underscored its decade-long ascent to becoming a top-tier independent dealer (per Wealth Professional, September 2023). Its footprint includes the headquarters in Winnipeg and a major hub in Toronto, with advisors distributed across every province. What structurally differentiates Wellington Altus is its partnership model: the firm was built with equity participation for its top-performing advisors, creating a cooperative dynamic rare among Canadian investment dealers. This mutualized structure aligns the interests of head office and field advisors, reducing the churn seen at competitors where advisors operate under corporate mandates. The dual-headed leadership — Degelman as strategic chairman and Hauser as operational CEO — mirrors the succession-aware governance of a family office, even as the firm serves an external client base.
General information
Firm type
Bank / Wealth / Trust
Year founded
2017
AUM
Undisclosed
Location
Region
North America
Country
Canada
City
Winnipeg
Corporate office
Winnipeg, Manitoba, Canada
Additional offices
Toronto, Ontario
Principals
Todd Degelman
Chairman & Co-Founder
Shaun Hauser
CEO & Co-Founder
Dennis Stewner
COO
Sector focus
Frequently asked questions
How does Wellington Altus source alternative investment products for its clients?
The firm acts as a dealer platform, vetting and onboarding third-party alternative asset managers in private credit, real estate, and private equity. Advisors then allocate client capital into these approved funds; Wellington Altus itself does not originate direct deals. This sourcing model relies on institutional relationship teams that negotiate access and terms with fund managers, passing due diligence costs through the platform rather than forcing individual advisor teams to conduct their own manager research.
Is Wellington Altus a family office or a wealth management dealer?
It is a wealth management dealer — an IIROC-regulated investment dealer — not a single-family office. It serves thousands of external high-net-worth clients through independent advisor teams. Its partnership structure, however, borrows from family-office governance by giving top-producing advisor-partners equity stakes, making the firm itself resemble a collective enterprise rather than a traditional corporate dealer.
Who makes investment decisions — the firm or the individual advisors?
Individual investment advisors operating under the Wellington Altus umbrella make portfolio allocation and security selection decisions for their clients, consistent with their fiduciary duties and the firm's compliance framework. The corporate office provides a curated product shelf, including alternative investment funds, but does not impose a model portfolio or house-view mandate. This advisor-centric autonomy is central to the firm's recruitment pitch.
What is the relationship between Wellington Altus and Wellington West?
Wellington Altus was formed by former Wellington West executives Todd Degelman, Shaun Hauser, and a group of advisors after National Bank acquired Wellington West in 2011. The 'Wellington' name was licensed or reused to signal cultural continuity, but Wellington Altus is a new legal entity with no ownership ties to the absorbed predecessor. The core DNA — independent, entrepreneurial — was intentionally preserved in the new firm.
Does Wellington Altus have a philanthropic platform or foundation?
Wellington Altus has not publicly disclosed a centralized corporate foundation separate from its advisory entities. Charitable giving is typically managed at the advisor-client level through donor-advised funds or third-party community foundations. The firm does promote philanthropic planning as a service offering, but operates no single major foundation vehicle comparable to those maintained by large single-family offices.
What is Wellington Altus's known posture on direct private equity co-investments?
The firm does not typically lead or anchor direct co-investments on a balance-sheet basis; it is not a principal investor. Its alternative investment exposure is delivered through pooled fund structures from third-party managers. High-net-worth clients seeking co-investment access would generally need to look to specific fund managers on the Wellington Altus platform, rather than the firm itself acting as a co-investor.
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