One of the biggest trends shaping the family office space in Canada is the move towards professionalization. The timing could not be better. As President Donald Trump’s global trade war continues to bring chaos, Chartered Financial Analysts® (CFAs®) are bringing a pension fund mindset and new alternative investment opportunities to Canada’s high-net-worth families—opportunities designed to protect and grow wealth regardless of what the markets are doing.
Heather Cooke, Vice Chair, Board of Directors, CFA Society Toronto—the largest CFA Society chapter in the world—and Chief Investment Officer of The Audra Group Family Office, recently sat down with Canadian Family Offices to talk about CFA Society Toronto, how it prepared her for the world of family offices, and what’s in store at this year’s Annual Investment Dinner, the Society’s flagship event, which she calls the Toronto finance industry’s annual homecoming.
What is CFA Society Toronto and how does it support the profession and investors?
CFA Society Toronto is a not-for-profit organization affiliated with the CFA Institute, the global body that administers the Chartered Financial Analyst® designation and the gold standard for educational curriculum for the financial industry. There are more than 160 Societies around the world. CFA Society Toronto, which will turn 90 next year, is the largest. We have more than 11,500 members.
Trust is so important when you are managing people’s capital. Our mission is to be the leading source of world-class investment professionals. We want to have a positive impact the profession and benefit investors by enhancing and expanding our diverse community and promoting an ethical, dynamic and vibrant financial service industry. Education is a big part of that. We offer many different learning opportunities and events that attract really talented people to serve on panels and conferences. This empowers our members to excel, be competitive and remain at the forefront of financial trends.
What led you to become a CFA charterholder, and ultimately to work in a single-family office?
I graduated with a commerce degree from Queen’s University. When I moved to Toronto, my focus was on “What’s the next professional step?”. My sister is an accountant, and the CPA designation is their gold standard. I learned about the CFA® designation, so I started taking the course.
The designation and joining CFA Society Toronto as a member has allowed me to stay competitive in the pursuit of excellence. Over my career, I’ve worked with many institutional investors, as well as leading asset management organizations and consulting firms that specialized in outsourced CIO [chief investment officer] services. I worked with pension funds, endowments, financial intermediaries, helping them develop investment solutions, conduct manager searches across multiple asset classes and built customized investment portfolios.
My skillset and experience attracted a recruiter who was building out a new family office for a very wealthy multigenerational family in Canada looking to build resilient all-weather portfolios. It’s been an amazing opportunity for me. I built out the team, the investment strategy and philosophy, and I get to work with great people. I use all the skills I learned over the years and dedicate them to serving the family—unlike in institutional investing, where you are far removed from the end client. It’s the purest fiduciary role I’ve ever had.
Why was it important for you to join CFA Society Toronto?
I’ve always been very strategic in building skills. About 10 years ago, I had a stretch goal of being a CIO. I was also thinking about what other things I could do to improve myself. One of the things I was lacking was any meaningful volunteer activity in my personal portfolio. Education has always been an important part of my life. CFA Society Toronto was a natural connection for me.
I started on the Society’s Risk Management & Alternative Committee. We ran great events on private equity, private debt, infrastructure, agriculture to name a few—I learned all sorts of new skills. I went on to chair the Institutional Asset Management Committee, which organized our annual pension conference—a great opportunity to think about the key trends and topics for pension funds. Now I serve as Vice Chair/Incoming Chair of the Board and current Chair of the Annual Investment Dinner Task Force.
Tell me about the Annual Investment Dinner.
It is our flagship event and the largest event of its kind in Canada and probably the world. We typically have about 1,000 financial and investment leaders attending. It has become a homecoming for the industry where you can catch up with your peers. Each year, we focus on a relevant topic and bring in incredible speakers. Two years ago, artificial intelligence (AI) was a hot topic—it still is—and we welcomed Ajay Agrawal, a leading professor at University of Toronto, founder of the Creative Destruction Lab, and an expert in the economics of AI. He wowed us with discussions about how generative AI would change our community. Last year, we had an exclusive opportunity to interview Hank Paulson, former Chairman and CEO of Goldman Sachs, who also served as U.S. Secretary of the Treasury during the global financial crisis.
What is the theme of this year’s event?
The world of investing and trade is at a crossroads. Global economic realignment, shifting international policies under President Trump’s administration, and rising geopolitical tensions are all happening at once, placing Canada and Canadian investors in uncharted territory.
The days of ‘benign globalization’ are over. This year’s theme is ‘A vision for Canada: How leaders and investors should navigate the regime change.’ We were very fortunate to secure the Right Honourable Stephen J. Harper, 22nd Prime Minister of Canada, who will be interviewed by the Honourable Lisa Raitt, Managing Director and Vice-Chair Global Investment Banking at CIBC Capital Markets. Mr. Harper, one of Canada’s longest-serving prime ministers, will discuss complex global crises and how he expanded Canadian international trade when he was prime minister. He is also advising institutional investors, so he will share practical strategies and personal perspectives on how Canadian businesses and investment leaders can remain resilient and competitive in this global regime change.
What else can attendees expect?
In line with our work cultivating innovative research, we will present the Hillsdale Investment Management – CFA Society Toronto Research Award. The winner will receive $10,000 and recognition within the global investment community. We also have a benchmark competition. People fill out a ballot with their market predictions for the year, which provides significant bragging rights for the winner. A key aspect of all the events we run is the opportunity to network with top-tier investment leaders, decision makers, institutional investors and key stakeholders.
Where and when will it take place? How can readers purchase tickets?
The 68th Annual Investment Dinner will take place on Sept. 25 at Metro Toronto Convention Centre’s North Building. You don’t have to be a CFA® charterholder or member to attend. It’s for everyone who works in Toronto’s financial community. You can visit the event page on our website to learn more and to purchase a ticket. I bought a table for our employees and our family office trustees. We are making it a team bonding night.
This story was created by Canadian Family Offices’ commercial content division on behalf of CFA Toronto, which is a partner and content provider of this publication.
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