Nicola Wealth receives 2023 BC Region Family Enterprise of the Year Award

Tuesday, December 5, 2023 — Nicola Wealth (and the Nicola family), a leading Canadian wealth management firm, has been honoured with the prestigious 2023 BC Region Family Enterprise of the Year Award (FEYA), a testament to its exceptional growth and commitment to excellence in family enterprise. This accolade, presented by Family Enterprise Canada, celebrates Nicola Wealth’s economic achievements, its role as a pillar of community support and as a beacon of entrepreneurial spirit.

Founded in 1994 by John Nicola, the firm began with a modest team of seven and $80 million in assets under management. Today, Nicola Wealth is a leader in the wealth management industry, overseeing over $14.4 billion in assets, employing over 500 dedicated staff members and extending its services to clients across Canada.

Nicola Wealth’s journey is marked by its innovative and integrated approach to wealth management. By combining expertise in investments, risk management, tax planning, philanthropy and estate planning, the firm has crafted a comprehensive strategy that addresses the multifaceted needs of its clients. This approach speaks to Nicola Wealth’s adaptability and foresight, and it underscores its commitment to providing tailored and holistic financial solutions.

“We are honoured to receive the 2023 BC Family Enterprise of the Year Award, as I believe the essence of entrepreneurship lies in constructing an improved business, not merely a larger one,” said John Nicola. “This recognition is a testament to our team’s dedication to challenging the established norms and actively pursuing innovation. This approach has allowed Nicola Wealth to endure and thrive amid market fluctuations and economic uncertainties over the years. We sincerely thank Family Enterprise Canada and everyone who has supported us along the way.“

The firm’s philosophy, rooted in an abundance – or “share the pie” – mindset, underpins its success and culture. This philosophy, centered on sharing progress and triumphs, fosters a collaborative and compassionate work environment. Further exemplifying its dedication to the community, Nicola Wealth’s staff and charitable arm, the Nicola Wealth Gives Back charity committee, has distributed over $3.55 million this year alone, demonstrating the firm’s unwavering commitment to social responsibility.

Chair of Family Enterprise Canada, Naim Ali, praised this year’s BC Regional recipient. “Recognizing successful family businesses like Nicola Wealth – that exemplify best practices in their business, family and community – is our honour. Sharing their stories will hopefully inspire others with their shining example.”

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The Significance of the Family Enterprise of the Year Award

Established in 1986, the Family Enterprise of the Year Award (FEYA) is a significant accolade in the Canadian business landscape. It recognizes business families’ contributions to the economy and social framework of communities across Canada. Each year, family businesses are nominated for this award across various regions. Volunteer selection committees determine the award recipients. Each regional winner becomes a candidate for the National Family Enterprise of the Year Award and the annual FEYA celebration is a highlight of Family Business Symposium, being held next year in May in Calgary.

What distinguishes FEYA from other business awards in Canada is its comprehensive approach to evaluation. The award considers business performance, innovation and the integration of best practices that positively impact the business, the team, the family involved and their community. Winners of the FEYA are recognized for their exemplary role in contributing to Canada’s economic development.

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