Steadyhand coming to Toronto

When Phillips, Hager & North was bought out by RBC in late February, their diehard supporters and some industry pundits were speculating the death of an era. Forgoing marketing expenses and requiring a higher than usual minimum investment requirement, they practically invented the no-load industry in Canada. When mutual fund fees were deregulated in the early 1980s, PH&N didn't touch their mutual fund fees, while most mutual fund firms raised theirs. Considered mavericks by some, they commanded a fierce loyalty.


In the same month as the RBC/PH&N deal (February), Steadyhand Investment Funds was celebrating its first year anniversary of filing their prospectus. President and CEO, Tom Bradley, spent 14 years at PH&N eventually taking the top job. Steadyhand is his very own project, and I'm eager to see the results. As a new entrant to an incredibly saturated industry, I am keenly following their progress. Their size is small, which makes their possibilities endless. However, it also means the jury is still out on them. Furthermore, they are (I believe, anyway....correct me somebody) the only mutual fund firm with a blog!


There are a slew of differences between PH&N and Steadyhand, which I'll get into in another blog entry. The question, though, isn't in the differences.... but the potential of a key similarity: Can they win a loyal following close to that of PH&N?


Tom Bradley will be hosting a lunch next Tuesday, May 21 at the Intercontinental for his small cap manager, Wil Wutherich. Check back for a review of the event and my thoughts on Steadyhand.


To RSVP:
Email: info@steadyhand.com
Phone: 1-888-888-3147