What do you do when you're wealthy, surrounded by specialists, but still can't get a straight answer to what your family should actually do? That frustration sparked one of Canada's most influential wealth management stories.
In Episode 23 of ABFI Table Talk, host Matt Knight sits down with Tom McCollough, founder and chair of Northwood Family Office, author of three books on wealth, and often called "the godfather of family offices in Canada." After 20 years at RBC, Tom left in 2003 to build something he couldn't find as a consumer: an integrated advisor for his own family's wealth. Twenty-three years later, Northwood serves more than 100 families across the country and has effectively built the multi-family office profession in Canada.
The conversation unpacks why vertical specialists — accountants, lawyers, investment managers — solve vertical problems but leave families without anyone connecting the dots. Tom lays out his "general contractor" model for integrated wealth, explains why goals should drive investments (not the other way around), and shares why he proactively stepped back from the CEO role to let Northwood's next generation lead.
This episode matters for any family navigating wealth, succession, or the search for trusted advice. Tom offers frameworks Canadian business families and advisors can put to work tomorrow and a candid look at how the family office landscape is changing and where it's headed next.
Tune in to hear how one frustrated consumer kickstarted an industry in Canada, and what that means for your family.
This video podcast series is proudly produced by the team at Road 55 - located in Edmonton, Alberta.
For more information, please visit:
www.road55.ca What is Table Talk with ABFI?
Table Talk with ABFI
Host: Matt Knight, Executive Director of Alberta Business Family Institute
Dive into the world of family businesses with "Table Talk with ABFI." Hosted by Matt Knight, this unscripted podcast spotlights Alberta's entrepreneurial families and we'll talk about many aspects including:
-Origins & Evolution: Discover the foundation of family enterprises and their transformative journeys.
-Personal Triumphs: Hear heartfelt stories of individual ambition and resilience.
-Family Dynamics: Navigate the intricate interplay of relationships, transitions, and generational handovers.
-Growth & Motivation: Uncover breakthrough moments and strategies propelling these businesses forward.
Join the conversation and be inspired by tales of tenacity, innovation, and family legacy.