The Alignment Advantage: When the Advisor Is Also the Portfolio Manager

MLD Core Fund

In the Canadian wealth management industry, it's nearly unprecedented for a retail advisor to also serve as sub-advisor on a prospectus-cleared mutual fund. But not only does Chad Larson, Senior Portfolio Manager and Founder of MLD Wealth, hold that dual role, he does so with performance that consistently eclipses peers and benchmarks.

From Advisor to Fund Sub-Advisor

Most wealth advisors focus on allocation advice, manager selection, and client relationships. With the launch of the MLD Core Fund (Class F), managed by Purpose Investments and sub-advised by Canaccord Genuity Wealth Management/Chad Larson brought his investment approach directly into a prospectus-cleared fund that complements their advisory business. The fund is classified as Balanced Tactical, with roughly 60 percent equities and 40 percent fixed income, and offers daily liquidity.

This structure gives Chad, and by extension his clients, stronger alignment. Rather than relying solely on third-party managers, he remains closely involved in performance, transparency, and risk management through his role as portfolio manager.‍

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Consistent Outperformance Across Horizons

Public records show that the MLD Core Fund has outpaced its benchmark across multiple timeframes: 

For instance:

• As of October 2025, MLD Core (Class F) delivered a 1-year return of 27.13% and a 5-year annualized return of 11.12% (net of fees) for its subscribers.

• On YCharts, the fund’s holdings and performance highlight allocations across equities, bonds, global dividend, international equity, gold, and more, showing tactical flexibility.

• On FundLibrary, performance is presented relative to both the benchmark and the category average, with consistent quartile rankings in the top deciles across periods.

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In plain terms, this is not a one-off hot streak. Over multiple market cycles and across varying asset classes, the MLD Core Fund has delivered.

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Operating at the Top of the Tactical Balanced Category

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MLD Core is categorized under Tactical Balanced, one of the most flexible and competitive categories in Canadian mutual funds. Funds in this space can move rapidly between equity and fixed income, adjust sector exposure, and employ derivatives or alternatives when the outlook changes.

In that context, ranking consistently in the single-digit percentile among more than 200 tactical balanced funds is elite. It means Chad’s fund has been among the very top performers by risk-adjusted return, not just by upside capture.

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Why This Matters

• Skin in the Game and Alignment: When the portfolio manager is deeply invested both organizationally and reputationally, there is no hiding behind third-party managers.

• Credibility in the Marketplace: In a field where many advisors promote proprietary funds from large platforms, Chad’s involvement as sub-advisor on the fund reinforces his credibility.

• Disciplined Risk Management: Serving as sub-advisor encourages discipline around liquidity, volatility controls, drawdown protocols, and transparency.

• Scalable Impact: With the fund, clients who prefer a pooled vehicle rather than separate account mandates can still benefit from Chad’s strategy, widening the reach of MLD’s platform.

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Conclusion

Chad Larson’s dual role as both advisor and portfolio manager is rare. His ability to deliver top-tier performance across multiple periods, outstrip benchmarks net of fees, and do so with consistency places him and MLD Wealth in a select echelon of Canadian investment firms.

This is not just bridge-building between advice and product. It is a statement: when you build your own fund, you can no longer outsource outcomes. For high-net-worth clients seeking both personalized advice and institutional-calibre portfolio management under one roof, that setup is compelling and increasingly differentiating.

Purpose Investments Inc. is the manager and trustee of the MLD Core Fund. Canaccord Genuity Wealth Management acts as sub-advisor, Chad Larson is the Portfolio Manager of record. Past performance is not indicative of future results. Returns are net of fees and as stated in the fund’s prospectus.

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