What does it take to build a firm that lasts—and a culture that grows with it? In this episode, recorded live at the 2025 Private Wealth Canada West Forum, Nicola Wealth Chairman and CEO John Nicola joins board member and Rethink Founder Tom Shepansky for a thoughtful conversation on leadership, growth, and the value of sharing success.

From the early influences that shaped his thinking to Nicola Wealth’s “Share the Pie” philosophy, John offers insights on building a resilient business, investing in people, and staying focused on the long game. For entrepreneurs, executives, and investors alike, it’s a valuable perspective on what sustainable success really looks like.

2:04 - The importance of a strong network

7:03 - Authors of significance

8:51 - Where Share the Pie originated

14:00 - Growing your company, by sharing it

18:24 - How to play the long game

22:47 - The importance of giving back to your community

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Ben Jang, Portfolio Manager at Nicola Wealth, joins host Jasmine Maricic to discuss key developments from the first quarter of 2025 and the potential implications for the global economy.

They review market reactions to U.S. tariffs and their broader impact on trade dynamics, including Canada’s positioning in a shifting global landscape. Ben also shares perspectives on Canadian and U.S. equity valuations, diverging labour market trends, and the return of terms like “stagflation” to economic discourse.

The conversation touches on European equity performance, inflation and interest rate expectations, and the evolving role of fiscal and monetary policy. Ben also outlines how Nicola Wealth’s multi-asset portfolios are managed to stay diversified and respond to changing conditions across public and private markets.

Highlights

1:02 - How much has Trump shaken up the Global Economic landscape with the recent tariff threats?

6:35 - European Union x Canadian Trade

11:04 - U.S Exceptionalism

12:51 - Trade tensions and how they are impacting the Canadian interest rate

15:10 - Why have European stocks outperformed US stocks this last quarter?

18:00 - The importance of a diversified portfolio

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Secondaries have emerged as one of the fastest-growing segments within private capital, offering investors potential access to liquidity and flexibility in an asset class traditionally known for long holding periods. In this episode, Rob Olsen is joined by Nicola Wealth’s Tori Buffrey and Adrian Millan, Partner at PJT Park Hill in New York, to explore how this market is evolving and what it means for today’s investors.

Together, they explain the fundamentals of LP- and GP-led secondaries, discuss the increase in transaction volume, and examine the structural and market trends shaping the space. Tori shares how Nicola Wealth approaches GP-led secondaries, while Adrian offers a global view informed by years of experience advising institutional clients.

They also discuss the role of innovation in deal execution, recent shifts in capital flows, including interest from retail and insurance investors, and the unique position Canadian investors hold in the broader market.