Dundee Wealth Management

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Dundee Wealth Management
Type	Public company (TSX: DW), (parent Dundee Corporation TSX: DC)
Founded	1998 (parent Dundee Corp founded 1992)
Headquarters	Toronto, Ontario (Canada)
Key people	Ned Goodman, Founder
Industry	Financial Services
Revenue	CDN $895 million (fiscal 2006), Assets = CDN $62.7 billion (April 30, 2007)
Employees	1,600+ and 1,800+ Advisors
Website	http://www.dundeewealth.com/

Dundee Wealth management is a Toronto, Canada based financial services firm. The parent company of Dundee Wealth Management is Dundee Corporation.

Dundee Wealth Management operates a number of different wholly-owned subsidiaries, shown in the sections below. Dundee Place is a 30-storey building at 1 Adelaide Street East, in the downtown Toronto financial district, and is home to Dundee Wealth Management's head office.

1 Origin of the Company Name
2 Parent Company
3 Dundee Wealth Management Businesses
4 Brokerage
5 Investment Management
6 Dundee Bank of Canada (http://www.dbc.ca)
7 Sources

[edit] Origin of the Company Name

Dundee Wealth Management (and its parent, Dundee Corporation) are acknowledged in company literature to have been named after the town of Dundee, in Scotland (Scottish Gaelic: Dùn Dèagh), which means "Fort on the River Tay" in Scottish Gaelic (the Tay being the longest river in Scotland. While company literature explains the origin of the company name, it is unclear why the company was named after the city of Dundee.

[edit] Parent Company

Dundee Wealth Management is a 64% owned subsidiary of Dundee Corporation, which operates three major businesses:

Dundee Resources
Dundee Wealth Management
Dundee Realty

[edit] Dundee Wealth Management Businesses

Image:Dundee org.JPG

Dundee Wealth Management's operating subsidiaries are grouped into 3 major types of businesses:

Brokerage
- Dundee Securities
- Dundee Private Investors
- Dundee Insurance Agency
- Dundee Mortgage Services

Investment Management
- Goodman & Company Investment Counsel
- Dynamic Funds (http://www.dynamic.ca)
- Goodman Private Wealth

Banking
- Dundee Bank of Canada (http://www.dbc.ca)

[edit] Brokerage

Dundee's brokerage business is made up of Dundee Securities, Dundee Private Investors, Dundee Insurance Agency, and Dundee Mortgages.

These operations include a full service investment dealer engaged in wealth management & financial advisory services, retail brokerage, institutional sales & trading, equity research and investment banking, financial planning, mutual fund dealership, a full service Managing General Agency (Insurance), and Mortgage services.

Dundee Securities has over 1,800 Financial Advisors dealing with the public.

Dundee Securities operates a sell-side instituional sales & trading floor, and is one of 117 TSX Group Members / Participating Organizations, and one of 21 TSX Group Market Makers (as of April 2007).

[edit] Investment Management

Dundee's investment management business is run by Goodman & Company Investment Counsel, whose Dynamic Funds division is perhaps the more commonly known business in Dundee's investment management business.

Dynamic Funds is a mutual fund company, competing with the likes of Fidelity, AIM Trimark, AIC, CI Funds, and many others. See the mutual fund companies in Canada page for more information.

[edit] Dundee Bank of Canada (http://www.dbc.ca)

Dundee Bank of Canada is a "Schedule I" Canadian chartered bank. In September of 2007 Scotiabank, one of Canada's leading financial institutions purchased Dundee Bank for $260 million. It also purchased a further 18% interest in the parent company, DundeeWealth for $348 million. Some consider this a move by Scotiabank to carry on a full fledged taker over of DundeeWealth in times to come.

Canada's "big five" banks (Royal Bank of Canada, Scotiabank, CIBC, TD Canada Trust, Bank of Montreal) are the major Canadian chartered banks classified as "Schedule I". (See http://www.cba.ca/en/section.asp?fl=2&sl=204&tl=&docid= for more information).