Our History


Leon Frazer was a veteran of WWI

Founder Leon Frazer

On September 1, Leon Frazer, a Canadian businessman and World War I veteran, sets up shop at 51 Melinda Street as Leon Frazer & Associates. The firm is Ontario’s first investing counselling firm, and the second in Canada.

That same day German tanks roll into Poland, signaling the beginning of World War II.


View of Downtown Buildings

Leon Frazer is unfazed by the turn of events in Europe. He believes that ownership of assets is the only way to preserve the buying power of savings over time, a principle the firm still adheres to today.


September, George Frazer joins Leon Frazer & Associates. After George raised the subject of joining the firm his father replied, “George, take my keys and go to the office. You will find the books of the company in the left-handed drawer of my desk. Take a look and see if I can afford you.” The math works. George joins the firm, but — at a salary of $600 per annum – lives at home.

Recognition Award


CFA Certificate

Leon Frazer & Associates create Associate Investors Ltd., a mutual fund designed to provide the Leon Frazer investment prowess to investors without the minimum investment capital typically required to open a private wealth account.

In 2003, the Fund is acquired by Industrial Alliance Insurance and the fund is marketed as the IA Clarington Canadian Conservative Equity Fund.

Today, the fund is the sixth oldest in Canada, holding more than $800 million in assets. Since inception it has returned 9.4% per annum.


The Investment Counsel Association of Canada (ICAC) is created, with George Frazer as a founding member.

Today, the ICAC is known as the Portfolio Management Association of Canada, a forum for 160 investment firms that manage $750 billion on behalf of high net worth and institutional members.


Founder Leon Frazer passes. George Frazer and Bill Tynkaluk become the managing partners.

Bill Tynkaluk and George Frazer


Jovian Capital Corporation acquires Leon Frazer & Associates.

“The Jovian community represents a series of excellent companies operating under their own recognized brand names with strong management teams,” says Jovian CEO Philip Armstrong.


Canadian Investment Awards

George Frazer

George Frazer is recognized for an outstanding career spanning six decades, receiving the Career Achievement Award at the Canadian Investment Awards.

Other winners of this prestigious award include Claude Lamoureux, former head of the Ontario Teachers Pension Plan, legendary portfolio managers Ned Goodman and Sir John Templeton, and investment management visionary Robert Krembil.

“We’re having fun,” George Frazer tells a reporter. “We’re coining money. The income to each individual account in this office has gone up more than 50% over three years. How do you get that? By honing in on the dividends that you are going to get to give you a good percentage of your investment back.”