Bakish Wealth – brothers Nick and Joe Bakish successfully mix investment and a social conscience

Montreal Success Stories

Brothers Joe and Nick Bakish have built Bakish Wealth into a highly successful financial services practice that is popular with successful entrepreneurs, professors and medical professionals. While older brother Nick was the first to develop his career in the financial services sector, Joe Bakish brought his own set of talents and contacts to their business.

Bakish Wealth is consistently ranked highly in the investment industry. In 2016, Nick was named to the Top 40 Under 40 by the Investment Industry Association of Canada, and later Joe was given that acknowledgement in 2019 & 2020. The peer recognition doesn’t come lightly – Bakish Wealth provides solid results for their clients.

Joe maintains his relationships with McGill Dentistry and Medical Schools, Concordia, UQAM & HEC, and both he and his wife Constance are supporters of the performing arts. Nick is a Past-President of the Quebec Chapter of the prestigious Sierra Club of Canada.

Joe’s original career plan was to establish himself in the pharmaceutical industry. However, right at the time he was graduating from McGill, the industry was in a slump and employment opportunities were limited.

“I studied Biochemistry and Business Management at McGill, thinking that my career path would take me into sales and marketing in the pharmaceutical industry. Unfortunately, when I graduated, that industry was going through a tough time. Nick had suggested a couple of times that I consider the financial services sector. At first it wasn’t something that I wanted to do. Nick had been at it for a few years, and he said; ‘Maybe you should have a look at the business I’m building…’ and that was all I needed. I set up a separate practice and earned all my professional accreditations.”

Having close ties with McGill, Joe began to specialize in working with university professors and CEGEP educators. “I realized that I was helping these people to build a more financially secure future for themselves and their families. I felt good, and my confidence grew with every new client. Not in an arrogant way – but more as a useful professional. When I was five years into my practice, I realized that Nick and I could do much better for our clients and ourselves if we pooled our resources and worked together.”

“After sixteen years, my brother and I decided that it was time to move forward so that we could offer our high net-worth clients a wider range of financial products. What we had been doing worked well and brought solid returns for our clients; but we knew there was more that we could offer.”

During our conversation Nick stated; “I was interested in economics and financial investments even as a teenager. I was following Warren Buffet and reading the works of free market proponent Adam Smith. I was fortunate to know at an early age that I wanted a career in the investment business.” Nick followed his dream and enrolled in Bachelor of Commerce in Economics and Finance at McGill University, graduating with first-class honours. A natural athlete, he balanced his studies by competing on McGill’s Varsity Swim Team, while still maintaining his status as an Academic All-Canadian.

Nick’s career started at in 2002; first with Investors’ Group and then with Richardson GMP. He has recently turned his focus to working with high net worth clients interested in conservative real estate investments. “I knew that I wasn’t cut out to be a salaried employee, and that I’d do best as an entrepreneur. So I joined Investors and set out to build my practice. It’s a tough business to get started in – because you start without any clients.” With a chuckle he adds; “You can believe that I started out by calling on friends and family. In the first year, I had to supplement my income by teaching swimming and other part-time jobs. But I kept at it, and with each new client I gained more confidence and self-assurance.”

Nick’s hunger for information and self-improvement continued after earning his Bachelor of Commerce at McGill. He subsequently earned his designation as a Chartered Financial Analyst (CFA), recognized as the gold standard in the industry.

Joe and Nick researched and visited with several top companies in the financial services sector. Nick states; “Richardson GMP was the only company that asked me where I invested my own money. When I responded ‘real estate’ – they said that if we came to Richardson, they’d set up a real estate fund to take advantage of our expertise; and to offer their clients an additional investment opportunity.”

And so a little over five years ago, brothers Nick and Joe brought Bakish Wealth to Richardson GMP; and it’s been full steam ahead ever since. “We now offer access to Private Client Capital Markets (PCCM), and remain committed to protecting our clients by following industry regulations to the highest standards.

‘How will you use your investments to change the world?’

The answer is surprisingly logical. There is an opportunity for investment in companies that will address the problems of climate change and other sustainability issues. Those solutions will be worth immense amounts of money. Green Business can indeed be good business. “The collective engagement of our investors – who come together to address critical global challenges – is unlike any other investment platform in history.”

By way of example, Joe and Nick collaborated with Howard Buffett, grandson of Warren Buffett, to bring their clients access to unique impact investment opportunities typically reserved for the global elite.

Joe adds; “Our growth exploded because we could offer our clients an expanded and more sophisticated suite of products and services. Our business from referrals was a significant part of that growth. Our satisfied clients referred their family and friends to us.”

Bakish Wealth maintains offices in downtown Montreal and the West Island. Joe Bakish is a Director, Wealth Management, Portfolio Manager, Investment Advisor and brother Nick Bakish is a Relationship Manager at Richardson GMP. For more information or to contact Nick of Joe Bakish, please visit their website at www.Bakish.ca or call; Joe Bakish: 514-981-5733 or Nick Bakish: 514-981-5732.