MD Financial Management Inc. announces sub-adviser change (opens in a new tab)
Scotiabank's 1832 Asset Management appointed sub-adviser on several MD equity funds; the release gives AUM above $51 billion.
Investment Management
Scotiabank-owned wealth manager and MD Funds manufacturer serving only Canadian physicians and their families.
MD Financial Management is a national wealth management firm, headquartered in Ottawa, that serves only Canada's physicians, medical students and their families. Created by the Canadian Medical Association in 1969 and sold to Scotiabank in 2018 for $2.585 billion, it manages the MD Family of Funds and MDPIM pools (using external sub-advisers), offers discretionary investment counsel through MD Private Investment Counsel, and reported more than $51 billion in assets under management at April 30, 2026. For job seekers it is mainly an advice and operations employer, with MD Advisors in more than 50 offices nationally and a head drawn from Scotiabank's corporate development ranks.
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MD Advisors (MD Management Limited financial consultants, or investment advisors in Quebec) build financial plans covering investments, insurance, retirement and estate planning for doctors from medical school onward.
Proprietary mutual funds and pools, dating back to the MD Growth Fund in 1969, run by MD Financial Management Inc. through external sub-advisers; in May 2026 it added 1832 Asset Management as a sub-adviser on several equity mandates.
Discretionary portfolio management for physician clients, set up in 2002 as MDPIM and later renamed MDPIC.
Trust services (MD Private Trust Company began in 1999; the leadership team now includes a Scotiatrust managing director) alongside estate planning advice.
Multi-employer pension plan for incorporated physicians, established with Scotiabank in 2023.
| Ottawa | ON | headquarters |
| Calgary | AB | regional |
| Edmonton | AB | regional |
| Lethbridge | AB | regional |
| Abbotsford | BC | regional |
| Kamloops | BC | regional |
| Kelowna | BC | regional |
| Nanaimo | BC | regional |
| New Westminster | BC | regional |
| North Vancouver | BC | regional |
| Prince George | BC | regional |
| Surrey | BC | regional |
| Vancouver | BC | regional |
| Victoria | BC | regional |
| Winnipeg | MB | regional |
| Fredericton | NB | regional |
| Moncton | NB | regional |
| Rothesay | NB | regional |
| St. John's | NL | regional |
| Halifax | NS | regional |
| Sydney | NS | regional |
| Barrie | ON | regional |
| Guelph | ON | regional |
| Hamilton | ON | regional |
| Kingston | ON | regional |
| Kitchener | ON | regional |
| London | ON | regional |
| Mississauga | ON | regional |
| North York | ON | regional |
| Oakville | ON | regional |
| Ottawa | ON | regional |
| Peterborough | ON | regional |
| Markham | ON | regional |
| St. Catharines | ON | regional |
| Sudbury | ON | regional |
| Thunder Bay | ON | regional |
| Toronto | ON | regional |
| Whitby | ON | regional |
| Windsor | ON | regional |
| Charlottetown | PE | regional |
| Chicoutimi | QC | regional |
| Gatineau | QC | regional |
| Laval | QC | regional |
| Longueuil | QC | regional |
| Montréal | QC | regional |
| Québec | QC | regional |
| Sherbrooke | QC | regional |
| Trois-Rivières | QC | regional |
| Pointe-Claire | QC | regional |
| Regina | SK | regional |
| Saskatoon | SK | regional |
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From the inside
Reasons that work in interviews
3 reasons for MD Financial Management
The firm’s investment philosophy is published and almost no candidate reads it. Quoting a manager’s own stated criteria back to them, with one company you applied it to, beats any structural reason here. Say which part you agree with and, if you can defend it, one part you would push on.
Serves Canadian physicians exclusively, which is the most defined client base of any firm on this list and genuinely changes the advice.
Scotiabank ownership with a specialist mandate.
If you want wealth management with a clear niche rather than a general one, this is it.
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Managing Director, Chief Operating Officer
Operations
Chief operating officer responsible for strategic direction and oversight across MD, including keeping business plans aligned with regulation and internal policy. Joined MD in 2016 and has more than 25 years in wealth management; CFP.
Vice President, Managing Director & Head
Executive
Leads MD Financial Management. Joined Scotiabank in 2011 in Global Banking and Markets equity research, then moved to corporate development, where he led acquisitions in Canada and abroad, and later worked on partnerships between MD and Scotia Wealth Management. CFA; Western MBA and McMaster engineering degree.
Regional Head, Greater Toronto Area and Atlantic Region
Advice (regional)
Leads MD Advisors across the Atlantic region and the Greater Toronto Area, overseeing advisory service delivery. About 25 years in financial services; CFP, CIM and FCSI.
Managing Director, Strategy and Wealth Services
Strategy
Leads strategic initiatives aimed at growth through advisor support and client engagement. Has been at MD for over 12 years, leading teams across technology, HR, wealth management and operations.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Scotiabank's 1832 Asset Management appointed sub-adviser on several MD equity funds; the release gives AUM above $51 billion.
The CMA, MD and Scotiabank committed $5 million to expand the Well Doc physician wellness initiative nationally.
MD and Scotiabank opened a multi-employer pension plan for incorporated physicians.
The CMA sold MD Financial Management to Scotiabank for $2.585 billion.
MD Management formed and the MD Growth Fund launched.
No sourced transactions or people moves for this firm. BSO publishes a fact only once it can attribute it to a named source, so these stay off the page rather than being filled in from inference. If you know something published that belongs here, it is the fastest way to get it added.
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MD Financial Management · May 20, 2026 · invested.mdm.ca
MD Financial Management · Aug 29, 2024 · invested.mdm.ca
MD Financial Management · Date unavailable · mdm.ca
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MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
MD Financial Management · Date unavailable · mdm.ca
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
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