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‘I do not care how much you know until I know how much you care’: Sam Reda on family offices and the importance of ‘the soft issues’

Over his nearly 50-year career, Sam Reda has quietly become a significant influence in the financial industry and within Canada’s family office ecosystem.

Affable, erudite and consistently discreet, he prefers to stay out of the public spotlight. But the spotlight finds him nonetheless. 

His list of accomplishments is long, yet today his informal work as a connector, mentor and builder of knowledge within the family office ecosystem is just as remarkable.

In this Q&A interview, he reflects on how he entered the industry, the challenges facing UHNW families and family offices, and why, for him, “how much you care” has always mattered far more than “how much you know.”

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MEMBER CONTENT

Next Generation: From succession planning to taking a more global approach

‘In contrast to here, there’s a conservatism in the policies in Europe where capital preservation is really at the forefront'

Compared to other developed countries, most Canadian FOs are relatively young, and they represent a still-nascent industry. Nowhere is this difference more notable, perhaps, than with Europe, where some family enterprises and offices stretch back through multiple generations. But the Canadian family office ecosystem is evolving—and, in the view of Cédric Cayla, president and CEO of 1642 Capital, a Montreal-based wealth management firm and multi-family office, it is evolving rapidly.

Family offices in Canada and Europe share many of the same challenges and opportunities, Cayla says. For instance, succession planning is top of mind for both. But there is a significant contrast in where they are in their lifecycles.

This article is brought to you by PBY Capital.

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