A More Personal Approach to Wealth Management
For decades, Murray Wealth Group has helped clients navigate changing markets through independent thinking, disciplined investment management and trusted long-term relationships.
A NOTE FROM BRUCE
With over 40 years in the money management business, I have realized my dream and started a firm focused on growing the wealth of individuals and their families, where I could meet and be of service to all kinds of fascinating and successful people. Our success in this endeavour should be measured by our ability to construct and manage portfolios that generate strong returns, and more importantly, help our clients grow their wealth for generations through proper education and guidance.
As my children entered high school, university and the job market, the reality of wealth transition was staring me in the face. How much of my accumulated wealth should I leave to my children – all of it, none of it or somewhere in between? How much should I leave to a charity, a university, or to my grandchildren?
How do you build, manage and transfer wealth? I remember when I was eight years old, sitting on my Dad’s knee as he was looking in the Globe & Mail at stocks that he had inherited. I could feel he was overwhelmed and did not know what to do. He was the third generation in a “riches to rags” story.
My great grandfather had made a small fortune in the textile and mining industries, but each generation thereafter was paralyzed by a lack of investment knowledge and experience, which led to the family wealth gradually dwindling as the portfolio stagnated. Their significant investment in Stelco (and other companies from the past) ultimately eroded the family wealth. My Dad left me with an unspoken charge to restore the family wealth, which led to my passion for investing.
I have taken steps to educate my children on how to manage the family’s wealth, lessons I have learned over my long career in the investment industry. For instance, I have set up assets for them to manage and have guided them towards a gambit of managers ranging from extremely aggressive to relatively conservative for them to experience a range of different outcomes. I have encouraged them to make their own investment decisions.
At The Murray Wealth Group, we are living with many of the same challenges you are. We will work with you and your family to build and sustain your wealth, investing with you every step of the way.
CEO and CIO
Murray Wealth Group
Leadership Team
Experienced Investment Leadership for Complex Financial Lives
The Murray Wealth Group is led by a seasoned team of investment professionals with deep expertise in portfolio management, wealth advisory and long-term financial stewardship. Bruce Murray, Jamie Murray and Michael Hakes bring a thoughtful, research-driven approach to managing wealth, combining institutional investment insight with the personalized service of an independent boutique firm. Together, they are committed to helping clients navigate complexity with clarity, discipline and confidence.
Meet the team
Bruce Murray, CFA
CEO and CIO
Bruce brings more than 40 years of experience in institutional investment management. Prior to founding MWG in 2015, he spent 25 years at McLean Budden as Executive Vice President and Managing Director, where he managed several major equity mandates including the Canadian Equity Growth Fund, American Equity Fund and Global Equity Growth Fund.
Bruce was instrumental in helping grow McLean Budden’s equity assets under management to approximately $30 billion prior to the firm’s sale to MFS Investment Management in 2011. He also managed portfolios for high net worth individuals, an area that remains a core focus of MWG today.
Earlier in his career, Bruce served as Vice President and Equity Analyst at Nesbitt Thomson and began his investment career at Crown Life Insurance Company as an International Economist and Financial Services Analyst. Throughout his career, he has earned industry recognition including Brendan Wood’s Top Gun designation and recognition among The Globe and Mail’s Top 50 Money Managers.
Jamie Murray, CFA
President
Jamie brings a diverse background in investment research, strategic analysis and financial services. Since joining The Murray Wealth Group in 2017, he has contributed deep expertise in financial analysis, valuation and portfolio strategy.
Prior to MWG, Jamie held roles with Investors Group and Desjardins Capital Markets, where he supported executive leadership, developed investment themes and covered the Oil & Gas Services sector. He also worked in executive compensation consulting, advising firms in the energy and mining industries on compensation strategy and governance best practices.
Jamie began his investment career in 2007 at Dundee Capital Markets after graduating from the Richard Ivey School of Business and earned his Chartered Financial Analyst designation in 2011.
Michael Hakes, CFA, MBA
Senior Portfolio Manager
Michael joined The Murray Wealth Group in 2018 as Senior Portfolio Manager and brings more than 30 years of global equity portfolio management and investment research experience. Prior to MWG, he held senior roles at British Columbia Investment Management Corporation (BCI), McLean Budden and Altamira Management.
Throughout his career, Michael has managed concentrated global equity portfolios, led sector research initiatives and co-managed a range of global and U.S. equity mandates. He also played an active role in mentoring analysts and developing investment talent.
Michael holds a BA in Economics from Western University, an MBA from the University of Bath School of Management and earned his CFA designation in 1999.
Our Associates
Mostafa Ali
Chief Compliance Officer
Full profile
Mostafa Ali joined the firm in January 2017, and serves as the Chief Compliance Officer at Murray Wealth Group (MWG). In this capacity, Mostafa is instrumental in enhancing the firm’s operational performance by streamlining processes and leveraging new technology. He closely monitors regulatory changes and evolving industry expectations, ensuring that these developments are effectively incorporated into MWG’s policies and procedures.
Mostafa’s primary responsibilities include advising and training staff on business ethics and compliance matters, fostering a culture of integrity and adherence to regulatory standards throughout the organization.
Mostafa holds a BA with Honours from Middlesex University in London, England. His extensive experience and commitment to compliance and ethics play a crucial role in maintaining MWG’s high standards of operational excellence.
Scarlett Song
Client Relations Associate
Full profile
Scarlett Song joined The Murray Wealth Group in June 2024 as a Client Relations Associate, bringing extensive experience in high-value client engagement and financial operations. She plays a pivotal role with client relations, liaising with operations staff, custodians, and external partners to streamline account processes and uphold regulatory compliance. She contributes to marketing initiatives, oversees event coordination, and distributes quarterly statements and tax reporting packages. Her commitment to client satisfaction and efficiency is demonstrated in her ability to resolve ad-hoc client requests and coordinate office operations effectively.
With a background in finance and a Bachelor of Science in Accounting and Finance from the University of London, Scarlett has a proven track record of driving business growth and operational excellence. Her professional journey also includes leadership roles at Inheritance Asset Management, Gold Elephant Limited and SAIC HK International Finance Ltd, where she excelled in client service, treasury management, and digital marketing.
Scarlett is a member of the Hong Kong-Canada Business Association and the Hong Kong Securities and Investment Institute. She is known for her meticulous attention to detail, organizational skills, and expertise in mutual funds, securities, and CRM systems.
Elaine Li
Portfolio Analyst
Full profile
Ms. Li joined The Murray Wealth Group in April 2024 and currently serves as a Portfolio Analyst. In her role as Portfolio Analyst, Elaine supports portfolio management by overseeing cash flows, rebalancing, and monitoring performance. She also supports portfolio managers through research on securities, analyzing business models, and updating price targets.
Elaine holds a Master of Science in Operations Research from Columbia University and a Bachelor of Commerce with High Distinction from the University of Toronto, where she specialized in Finance. Elaine is skilled in advanced financial modeling, data analysis, and portfolio optimization techniques to provide actionable insights.
Elaine’s dedication to professional growth is evident in her pursuit of the CFA designation.
Advisory Board
Susan Dallhoff, Chair
Full profile
Susan Dallhoff is the President and CEO of Strategic Leverage Partners Inc. For more than 25 years, Susan has served as a trusted advisor and sounding board to business leaders and organizations, guiding strategic planning initiatives, strengthening governance and board effectiveness, and serving on and chairing boards. She has over 20 years of capital markets experience, beginning her career on Wall Street before relocating to Canada to work for Nesbitt Thompson.
She has held various roles in the investment industry, including Financial Analyst, at both Nesbitt Thompson and McLean McCarthy, advisor to institutional investors and Director at Richardson Greenshields.
Following the sale of Richardson Greenshields, she co-founded a successful investment boutique focusing on leading edge companies. Susan launched a second company and career in 2002 with the founding of Strategic Leverage Partners Inc., a consultancy specializing in strategic planning, board governance and effectiveness, CEO evaluations, industry research, and advisory board development.
She has served on numerous boards in Canada and has guest-lectured and authored business cases for the Richard Ivey School of Business, where she obtained her MBA. She has served as Chair of the Murray Wealth Group Advisory Board since 2016.
Douglas Andrews
Full profile
Douglas Andrews served as an Executive Vice President, Managing Director, Portfolio Manager and Director at McLean Budden Limited. He served as voting member/portfolio manager on McLean Budden’s Canadian Equity Growth Fund. Doug joined McLean Budden Limited in 1996 to open their Vancouver office, with responsibility for portfolio management, marketing, and client service.
Prior to this, he spent nine years at SEI Financial Services as Vice President and Senior Consultant and eight years at a major Canadian trust company, with responsibility for real estate finance and strategic planning. He holds an M.B.A. in Finance and a B. Comm. from the University of British Columbia.
David Caldwell
Full profile
David Caldwell
has more than 30 years of experience within the Financial Technology and Financial Services sectors, providing expertise and senior leadership in the strategic and operating transformation of public and private businesses.
David serves as a director of First Nations Bank of Canada. Elected to the Board in April 2024, David is also a member of each of the Bank’s Human Resources and Compensation Committee, the Risk Management Committee, and the Credit Committee. David is also on the Board of aka Raisin Software, a leading provider of SaaS software supporting the fundraising efforts of a wide range of organizations in the not-for-profit sector.
In his corporate roles, David served until December 2023 as Executive Vice president, Strategy and Corporate Development at Diebold Nixdorf Inc. Before joining Diebold Nixdorf, David served as Chief Strategy Officer of Finastra, a global FinTech company and, prior to Finastra, was responsible for strategic planning and merger and acquisition initiatives at D+H Corporation, where he played a vital role in transitioning the firm to a global financial technology company and its sale to Vista Equity Partners in 2017. Prior to joining D+H, he was Managing Director, Corporate Development at CIBC World Markets. David received his MBA from the University of Toronto and holds a B.A. (Hons.) in Political Science from Carleton University.
Graham Fry
Full profile
Graham Fry is a financial professional with over 35 years of experience in business analysis, corporate finance, strategic planning, and investor and issuer relations and is adept at evaluating economic information and its impact on markets. He has established and maintained strong client relationships after managing the Financial Institutions Group debt origination platform as a Director at a major Canadian bank owned dealer for 15 years.
Graham is a trusted adviser on funding/capital raising dynamics in the Canadian fixed income market, with particular expertise in fixed income markets and all elements of debt market financing, including security and tenor selection, funding and capital dynamics, and market access. He has extensive experience in Canadian money markets as well, having been responsible for commercial paper origination at a major Canadian dealer.
Graham was awarded his CFA in 1995.
Michael Doolan
Full profile
Michael F. Doolan is a retired corporate executive with over 40 years experience in all aspects of financial management, with specific expertise in international mergers and acquisitions, offshore financing structures and international treasury management.
Prior to his retirement in 2017, Michael was Executive Vice President, Finance and Chief Financial Officer of Neo Materials Inc (TSX: NEM), moving on to become EVP & CFO of Molycorp Inc (NYSE: MCP) upon the acquisition of Neo by Molycorp.
Prior to that, Michael was Senior Vice President and Chief Financial Officer of Falconbridge Limited of Toronto before its merger with Noranda Inc. Michael has sat on a number of corporate boards here in Canada.
Peter Heinke
Full profile
Peter Heinke is an accomplished business leader, entrepreneur, and strategic advisor with more than three decades of experience helping companies grow, scale, and create lasting value.
A CPA with an early background in corporate finance at KPMG, Peter has held senior leadership roles in both private and public companies and has been involved in raising more than $500 million in growth capital over the course of his career. His experience spans technology, healthcare, manufacturing, and emerging sectors, with a particular focus on scaling businesses, strengthening operations, and positioning companies for long-term success.
Peter currently serves as Executive Director of the Georgian Bay Business Accelerator, where he supports entrepreneurs and growth-stage ventures across the region. Peter brings a rare combination of financial expertise, operating experience, and entrepreneurial judgment to clients navigating wealth creation, business succession, and strategic growth decisions.
He is valued for his practical perspective, collaborative style, and ability to translate complex opportunities into clear, actionable strategies.
Robert (Bob) Standon
Full profile
Robert (Bob) Standon joined the Murray Wealth Group Advisory Board in 2021.
He is the founder of Insurance Unlimited Insurance Brokers Inc., an independent broker of general insurance that he built over a 40-year period. His practice focused on the needs of small and medium sized business in the health care industry and, in more recent years, cyber insurance.
Earlier in his career, he specialized in life underwriting. Throughout his career, Bob built an excellent reputation for his high level of service and business ethics and his expertise in the area risk management.
He sold his company to Westland Insurance Brokers in 2022. Bob is a graduate of the University of Western Ontario and is a retired Chartered Life Underwriter who was triple licensed in not only life insurance but property & casualty insurance as well as health insurance. He is a former Advisory Board member of Closing the Gap Healthcare.
Michael Doolan
Full profile
Michael F. Doolan is a retired corporate executive with over 40 years experience in all aspects of financial management, with specific expertise in international mergers and acquisitions, offshore financing structures and international treasury management.
Prior to his retirement in 2017, Michael was Executive Vice President, Finance and Chief Financial Officer of Neo Materials Inc (TSX: NEM), moving on to become EVP & CFO of Molycorp Inc (NYSE: MCP) upon the acquisition of Neo by Molycorp.
Prior to that, Michael was Senior Vice President and Chief Financial Officer of Falconbridge Limited of Toronto before its merger with Noranda Inc. Michael has sat on a number of corporate boards here in Canada.
Peter Heinke
Full profile
Peter Heinke is an accomplished business leader, entrepreneur, and strategic advisor with more than three decades of experience helping companies grow, scale, and create lasting value.
A CPA with an early background in corporate finance at KPMG, Peter has held senior leadership roles in both private and public companies and has been involved in raising more than $500 million in growth capital over the course of his career. His experience spans technology, healthcare, manufacturing, and emerging sectors, with a particular focus on scaling businesses, strengthening operations, and positioning companies for long-term success.
Peter currently serves as Executive Director of the Georgian Bay Business Accelerator, where he supports entrepreneurs and growth-stage ventures across the region. Peter brings a rare combination of financial expertise, operating experience, and entrepreneurial judgment to clients navigating wealth creation, business succession, and strategic growth decisions.
He is valued for his practical perspective, collaborative style, and ability to translate complex opportunities into clear, actionable strategies.