Vancouver, BC – February 14, 2019 – BlueShore Financial reported strong financial results for 2018 with assets under administration (AUA) soaring to $5.7 billion.
BlueShore Financial’s results show net operating income of $22 million and significant growth with over 9% increase in AUA. In 2018, BlueShore achieved Return on Retained Earnings (RORE) of over 12%. With total loans up $372 million (up 11%) and total deposits increasing by $484 million (up 14%), BlueShore’s growth is in line with and in many areas ahead of its peers. In addition to this, wealth management net sales growth of over 3% remained strong in the face of volatile equity market conditions in the second half of the year.
“2018 was another year of expansion, growth and accolades for BlueShore,” said Chris Catliff, President and CEO, BlueShore Financial. “Positive financial results enable us to invest into continuing to build the expertise of our advisors, strengthen our digital offerings and refresh and expand our network of Financial Spa® branches to bring further convenience and ease to our clients.”
“We’re pleased with an exceptional year of profitable growth,” said Richard Butterworth, CFO, BlueShore Financial. “Further testament to our financial strength is our 2018 achievement of a favourable credit rating from DBRS, a reputable international third-party credit rating agency.”
“I’m proud of BlueShore’s 2018 accomplishments,” said Allan Achtemichuk, Chair of the Board of Directors, BlueShore Financial. “In addition to outstanding financial results, BlueShore has maintained focus on positive employee and client engagement as well as impactful community involvement. With great emphasis on nurturing a positive culture, BlueShore was named a Best Small and Medium Employer in Canada by Aon for eight consecutive years and one of Canada’s Most Admired Corporate Cultures by Waterstone Human Capital for the third time.”
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About BlueShore Financial
BlueShore Financial is a boutique financial institution providing a full range of personal and business banking, wealth management, insurance and commercial lending solutions. With a branch network located across the Lower Mainland and Sea-to-Sky Corridor, BlueShore Financial helps clients achieve financial wellness® through personalized solutions and expert advice, delivered in a unique Financial Spa® branch environment. BlueShore Financial manages over $6.5 billion in Assets Under Administration and is consistently ranked among the top 20 financial planning firms in Metro Vancouver.
BlueShore Financial is an Imagine Canada Caring Company, contributing at least 1% of pre-tax profits annually to charities and not-for-profit organizations within the communities it serves. BlueShore Financial is the operating name of BlueShore Financial Credit Union.