The Rational Reminder Podcast

Episode 341 - PWL’s Next Chapter

Jan 23, 2025

In this discussion, Mike Sullivan, co-founder of OneDigital, shares insights about the groundbreaking partnership between OneDigital and PWL Capital. With nearly 25 years in strategic growth, Mike reveals how cultural alignment and shared values drive successful mergers. The conversation highlights the exciting opportunities for improving client services and fostering innovation in Canadian wealth management. Listeners gain a unique perspective on the significance of purpose in acquisitions and the vision for a collaborative future in low-cost, client-centric investing.

01:03:03

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Mike Sullivan

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Episode notes

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Quick takeaways

PWL Capital's partnership with OneDigital aims to enhance client service and reshape the Canadian wealth management landscape through systematic investing.

The merger emphasizes cultural compatibility and shared values, which PWL found lacking in previous acquisition offers, ensuring a cohesive growth strategy.

Both firms are committed to delivering a comprehensive, low-cost advisory model while expanding service offerings to meet diverse client needs.

Deep dives

PWL Capital's Acquisition by One Digital

PWL Capital has transitioned from being employee-owned for nearly 30 years to being acquired by One Digital. This strategic decision stemmed from a desire to enhance their capabilities in the Canadian marketplace, which is characterized by high fees and low adoption of systematic investing. The hosts expressed excitement about this new chapter, having undergone an extensive decision-making process which included many discussions and evaluations of other acquisition offers. Ultimately, the choice to partner with One Digital was driven by a shared vision for the future and a distinct cultural alignment that felt promising and unique.

Intro

5min

Strategic Collaborations with OneDigital

6min

Strategic Partnership and Commitment to Client Services

1min

Podcast Evolution and Strategic Growth

4min

Cultural Fit in Acquisitions

5min

Forging New Paths: The PWL and One Digital Partnership

23min

Vision for Collaborative Investment Excellence

18min

PWL Capital is undergoing an exciting change that will help the company bring a greater positive impact to the Canadian Wealth Management space and serve more clients effectively. In this episode, Ben Felix and Cameron Passmore welcome Mike Sullivan, co-founder of OneDigital, to share the inside story behind PWL Capital's recent decision to join forces with OneDigital. With nearly 25 years of experience in growth through acquisitions, Mike explains how their unique culture and strategic vision led to this exciting collaboration. We discuss Mike’s role in driving OneDigital's expansion and how the company’s values align with PWL's mission to offer low-cost, client-centric, systematic investing. He provides insights into why this partnership represents more than just a business transaction by amplifying a shared vision for Canadian investors. Our conversation also delves into the dynamics of mergers and acquisitions and examines the importance of culture and purpose in making these critical decisions. Today’s episode offers a rare inside look at an M&A transaction with key players that many listeners will already be well-acquainted with. Tune in now to hear it all!

Key Points From This Episode:

(0:00:16) Details on PWL Capital's decision to partner with OneDigital.

(0:14:31) An introduction to co-founder Mike Sullivan and OneDigital.

(0:16:38) How Mike knows when an acquisition will be a good fit.

(0:19:13) The opportunities for building a different kind of wealth management firm in Canada.

(0:21:14) What attracted Mike to PWL as a potential OneDigital partner.

(0:34:05) Mike’s insights on applying what’s worked to the Canadian marketplace.

(0:36:14) How being part of OneDigital will make PWL better.

(0:37:59) Mike and his co-founder Adam Bruckman’s objectives for OneDigital.

(0:40:20) Why you shouldn’t expect changes to PWL’s service offerings or teams.

(0:45:02) How being part of OneDigital will help PWL assist other like-minded advisors.

(0:46:36) The typical advisor profile that PWL/OneDigital Canada would like to attract.