This article is part of our February Special Report on Philanthropy in Canada. To see all the articles so far, click here.

Paul Nazareth wants to talk.

After three decades of working in the nonprofit sector and raising funds for organizations large and small, today Nazareth calls himself a fundraising refugee—“the escaped professor who is speaking his mind.” And he’s got some strong messages for a charitable sector mired in old-style fundraising, for corporate foundations that have taken over the space, and for wealthy families that want to do good.

“It’s time to tell the truth about fundraising, philanthropy and generosity, because our neighbours are hungry, and golf tournaments and gala parties won’t cut it anymore,” he says.

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‘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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