Growing Together – Since 1968
As we enter the 21st year of the 21st century we look back on the year that was with mixed emotions. The Pandemic has been a human tragedy unlike anything that we have personally experienced and while we can celebrate the arrival of several vaccines, the impact of the virus seems far from over. The markets reacted very negatively during the early stages of the Pandemic and the outlook in April appeared bleak. The stock market rally since then has been fueled by low rates, massive stimulus spending and stronger than expected fundamentals, and growth stocks performed well on an absolute and relative basis. While we do not feel it is appropriate to celebrate while so many suffer, we note that 2020 was a surprisingly good year for our clients from an investment perspective. We have always believed that timing the markets is next to impossible, and the experience of this past year certainly supports that belief.
Throughout the Pandemic we have felt that it is important to safely make the most of the situation. Rather than complaining about what cannot be done, we have focused on what can be done, and as a firm we have been able to operate effectively despite the sudden shift to working from home. We are pleased that we have been able to generate strong investment returns for our clients and we are also pleased that we have been able to continue to move forward with important initiatives within the firm. Whether it is refinements to our research process, or an expansion of the wealth management services that we offer, we have continued to move forward despite the Pandemic.
During the past year we have added five people to the firm who collectively bring a wealth of experience that will allow us to better serve our clients by providing them with more advice. Stephanie Pantaleo, who is a chartered accountant with expertise in tax, joined the firm in March as Director of Family Office Services; Salomon Gamache, who has a Graduate Diploma in taxation, joined in September as Director of Financial Planning; Kathy Boubaris joined the Montreal office as an Executive Assistant; Drew Sutherland, who brings experience as an investment advisor, joined our Toronto office in November as a Vice President, Account Manager; and Andrew Bolton, who has significant industry experience and a CFA designation, joined the Montreal office as Vice President Client Services. During a year when so many projects were put on hold, Pembroke pushed forward, and we are very pleased to have added these qualified people to our team and look forward to introducing them to you when the opportunity permits.
For more than 50 years, Pembroke has been investing on behalf of our clients and providing them with advice so that they can attain their financial objectives. While we are pleased with the performance of the past year, we know that long-term results combined with solid advice are what matters most and it is for that reason that we continue to focus on our people and our process so that we can grow together in the years to come.
We wish you and your families health and happiness in 2021 and beyond.