The Wealth Exchange

Markets are finding stability, but the risks driving them are quietly shifting. Beneath the calm, questions around valuations, concentration, geopolitics, and diversification are becoming harder to ignore.

Join host Jasmine Marichic and Ben Jang, Portfolio Manager | Investment Strategist at Nicola Wealth, as they unpack Q1 2026.

You'll hear: • What "normalization" really means in today's market environment • Why strong recent returns may lead to a more muted outlook ahead • How concentration risk and the AI narrative are beginning to shift • Why fixed income may not provide the same diversification as in the past • Where opportunities are emerging beyond traditional public markets • How global market leadership is evolving beyond the U.S.

Major life events like divorce, inheritance, or changing family dynamics can feel deeply personal, but they often carry immediate legal and financial consequences. How can you make thoughtful decisions when emotions are high and the stakes are long-term?

Host Cassandra Cross sits down with Sierra Yanish, Family Lawyer, Mediator, and Arbitrator at BDL Family Law, to explore how personal transitions quickly become legal and financial turning points. Together, they unpack the assumptions, blind spots, and emotional pressures that can shape financial outcomes for years to come.

You'll hear: • Why personal milestones can trigger legal consequences sooner than expected • Common misconceptions about divorce, inheritances, and "separate" finances • How emotional decision-making can impact long-term financial security • The importance of cash flow, support structures, and holistic planning • Why slowing down and building the right advisory team can lead to better outcomes

If you're navigating a major life transition, or want to be better prepared for one, this episode offers practical, grounded insights to help you protect your financial future and move forward with clarity and confidence.

Markets can surge for years, but history shows momentum rarely lasts forever. How should investors respond?

Host William John sits down with John Nicola, Founder, Executive Chair, and Chief Investment Officer of Nicola Wealth, to explore mean reversion, the idea that over time highs come down and lows move up, and what it means for today's investors. Drawing on decades of experience across public equities, private capital, real estate, infrastructure, and fixed income, John explains why asset classes often drift back toward long-term averages and what typically follows strong market performance.

You'll hear: • Why markets can overshoot in both directions after big moves • How investor behavior can amplify market swings • How diversified portfolios and disciplined rebalancing help manage risk • Why patience, long-term thinking, and a balanced approach matter

If you want to understand market cycles and how portfolios are managed through ups and downs, this episode gives you a helpful perspective on why patience, diversification, and long-term thinking matter.

Watch the full presentation here: https://youtu.be/J7w8zkFzl38

Private credit is everywhere in the headlines, but are the risks as big as they seem?

Host Rob Olsen sits down with Jurgen Van Vuuren, Senior Director & Head, Private Debt, and Stacey Mouadeb, Senior Director, Private Debt to cut through the noise and unpack what's really happening in today's private credit market.

You'll hear:

• What's driving the growth of private credit
• Why recent negative headlines may be overstating the risks
• How defaults, recoveries, and diversification actually work
• Why manager selection and disciplined underwriting matter
• What today's market environment means for investors

If you're looking to better understand private credit and its role in a diversified portfolio, this episode offers a clear, practical perspective grounded in real-world experience.

Note for 3:54

Nicola Private Debt Fund (Net of Fees) CAD-hedged

• 1 year returns: 7.3%
• 3 year returns: 8.6%
• 5 year returns: 8.3%
• 10 year returns: N/A
• Since Inception return: 8.8%
• Since inception date: October 31st, 2017

S&P UBS Leveraged Loan Total Return Index

• 1 year returns: 5.9%
• 3 year returns: 9.3%
• 5 year returns: 6.4%
• 10 year returns: N/A
• Since Inception return: 5.4%
• Since inception date: October 31st, 2017

Bloomberg US Corporate High Yield Total Return Index

• 1 year returns: 8.6%
• 3 year returns: 10.1%
• 5 year returns: 4.5%
• 10 year returns: N/A
• Since Inception return: 5.0%
• Since inception date: October 31st, 2017

Interest rates are up and real estate values have shifted. So where are the opportunities now, and how does real estate debt fit into your portfolio?

Host Rob Olsen sits down with Mark Tiu, Director of Mortgage Investments at Nicola Wealth, and Sam Brown, President and Head of Commercial at CMLS Financial, one of Canada's largest commercial mortgage lenders, to share their front-line perspective on today's real estate market.

You'll hear: • How higher rates are changing borrower behavior • Where lenders are finding opportunities and where they're cautious • How commercial mortgages can provide steady income and stability • How technology and AI are shaping lending decisions • Why experience, discipline, and diversification matter more than ever

In today's higher-rate, more complex market environment, this episode offers practical insight from professionals working closely with Canada's commercial mortgage industry.

Excellence is rarely defined by a single moment. More often, it is built quietly over years through discipline, preparation, and the support of a trusted team.

In this episode of The Wealth Exchange, Nicola Wealth's Institutional President David Sung sits down with Olympic medalist and three-time world figure skating champion Patrick Chan, for a live fireside conversation recorded at the Arbutus Club in Vancouver.

Patrick reflects on the mindset behind elite performance, from the early years of training and the lessons learned through setbacks, to the routines and preparation that help athletes perform under extraordinary pressure. He also shares his personal experience navigating the transition from competitive sport to a new professional chapter as a wealth planning associate at Nicola Wealth.

The conversation explores the parallels between high-performance sport and long-term success in other areas of life, including the value of patience, resilience, and maintaining a long-term perspective. Patrick also discusses the importance of mentorship, teamwork, and embracing new identities beyond the arena of competition.

For listeners interested in the habits and perspectives that support sustained excellence in sport, career, and life, this episode offers a thoughtful reflection on the journey behind the scenes.

In private equity, fund timelines have traditionally shaped when investors exit an investment. Today, the secondaries market is creating new ways to provide liquidity while allowing strong assets to be held for longer.

In this episode of The Wealth Exchange, Rob Olsen speaks with Sunny Lee about the evolution of private equity secondaries, with a focus on General Partner-led transactions. They discuss what is driving growth in the market, how continuation vehicles work, and how Nicola Wealth evaluates secondaries opportunities across managers, sectors, and vintages.

Real estate remains front-page news; from trade tensions and a soft condo market to the implications of BC's Cowichan land claim ruling.

In this follow-up episode, Rob Olsen, Head of Nicola Wealth Private Capital, reconnects with Mark Hannah, Executive Managing Director, Real Estate, to revisit their earlier conversation on valuation pressure and liquidity challenges, exploring what has shifted since then and what investors can expect in 2026.

Mark shares updates on portfolio performance across Canada and the U.S., the state of redemptions, recent asset sales, and early signs of renewed momentum in leasing, transaction activity, and buyer demand, plus how improving risk premiums, geopolitical uncertainty, and evolving trade dynamics are influencing today's opportunity set.

For investors navigating mixed headlines and evolving market signals, this episode provides a clear, measured perspective on where real estate stands today, and how discipline and long-term thinking may position portfolios for the next phase of the cycle.

Leadership transitions are defining moments for any organization. When done well, they preserve what made a firm successful while creating space for the next generation to lead.

In this episode, host Natalie Michael, Managing Partner of CEO Next Chapter, speaks with John Nicola, Founder and Chief Investment Officer of Nicola Wealth, and Chris Nicola, the firm's newly appointed CEO. Together, they reflect on the journey that led to the leadership transition and the careful planning that supported it, including the role of independent governance, succession planning, and the board led process used to select the next leader.

The conversation explores what it means to step into leadership within a complex and rapidly growing organization. John and Chris discuss the realities of CEO succession, the importance of communication across a growing firm, and how leadership, technology, and critical thinking will shape the company's next chapter.

For founders, business owners, and leaders thinking about succession, this episode offers a candid look at how thoughtful planning and strong governance can help ensure a successful leadership transition.

Real estate remains front-page news; from trade tensions and a soft condo market to the implications of BC's Cowichan land claim ruling.

In this follow-up episode, Rob Olsen, Head of Nicola Wealth Private Capital, reconnects with Mark Hannah, Executive Managing Director, Real Estate, to revisit their earlier conversation on valuation pressure and liquidity challenges, exploring what has shifted since then and what investors can expect in 2026.

Mark shares updates on portfolio performance across Canada and the U.S., the state of redemptions, recent asset sales, and early signs of renewed momentum in leasing, transaction activity, and buyer demand, plus how improving risk premiums, geopolitical uncertainty, and evolving trade dynamics are influencing today's opportunity set.

For investors navigating mixed headlines and evolving market signals, this episode provides a clear, measured perspective on where real estate stands today, and how discipline and long-term thinking may position portfolios for the next phase of the cycle.