Former money manager moves from Bay Street to publisher's chair at Canadian MoneySaver

Peter Hodson and new challenge

A former Bay Street money manager has purchased Canadian MoneySaver magazine and will publish it out of an office in Kitchener. According to a story in the Waterloo Region Record, Peter Hodson, 48, left his job as chair of Sprott Asset Management, a leading investment firm, and bought the magazine because he wasn't having much fun.

“I didn’t really enjoy it that much,” Hodson says. Bay Street “wasn’t my kind of place,” he says. “There are a lot of greedy people on Bay Street and they are greedy at the expense of smaller investors.”

Certainly Canadian MoneySaver will get him lots of exposure to the retail investor. The 31-year-old magazine doesn't accept financial industry ads and instead is dedicated to practical, common sense advice on personal finance.

The magazine was started in 1981 in Kingston by Dale and Betty Ennis, operating off their kitchen table. The couple will be remaining on the masthead for now advising Hodson, who plans to beef up marketing and redesign the magazine, though keeping its very popular detailed charts listing performance data for major mutual funds and stocks.

In addition to running the magazine out of his Kitchener office, Hodson also runs 5i Research Inc., which provides financial advice to its members, but doesn't deal in securities.