Bryan Henry remembers his first CEM event clearly.

It was in Whistler in 2011, when the founders were still shaping the idea of a smaller, more personal capital markets gathering built around direct conversations rather than crowded conference floors.

Henry, now a senior investment advisor with Ventum Financial, knew some of the people involved and quickly put up his hand.

“I just wanted to be part of what they were doing because I thought it was really cool,” said Henry, who has attended more of CEM events than any other individual participant.

As CEM marked its 100th gathering in Kelowna last month, Henry said the appeal remains much the same as it was at the beginning, with direct access to management teams, time to compare ideas with other investors and a setting where business relationships grow into lasting friendships.

For Henry, the conferences have never been only about finding the next investment idea.

“The most memorable thing is the relationships I’ve built,” he said. “Some of them have become lifelong relationships that go well beyond business.”

In the following conversation, Henry reflects on his career, what he looks for when attending CEM events and why face-to-face investor meetings matter more now than ever.

“I was at UBC studying political science and international relations, and the plan was probably to go to law school.

During the summers, I delivered mail at Canaccord. Through that job, I met a lot of people in the financial services and brokerage business, and I found it fascinating.

It was dynamic, it was fun and no two days were the same. I started rethinking the law-school path, probably to my parents’ disappointment.

I finished my degree, completed an accounting diploma and took what was supposed to be a temporary job. Six months turned into 12 years.

I was also one of the last people to go through the old rookie training program at Cannacord. They put us in a room with no windows, gave us notebooks and scripts, and taught us how to make sales calls. It was a different time, but it was a great place to learn.”

“I joined what was then PI Financial in 2010.

Canaccord was growing quickly and becoming a much larger national firm. PI was smaller, more boutique, and more family-oriented. Everybody knew each other and the doors were open.

For me, it was a very comfortable place to be. It was one of the best decisions I’ve made, and I’ve now been with the group for about 16 years.”

“I believe it was in Whistler in the summer of 2011.

Neil Currie, Howard Fitch, Matt Fleming, and another gentleman were putting the concept together. I am good friends with Neil, so I told them I wanted to help in any way I could.

The traditional conference model was usually a big, open floor with a lot of people competing for your attention. The important meetings often happened off to the side at a restaurant or café.

CEM was taking that kind of focused conversation and building the whole event around it. I thought that was a really smart idea.

I’ve been involved since the beginning. I’d bet I’ve attended more CEM events than almost anyone.”

“I love the model.

You go into a weekend with your peers and spend time together from Friday evening through Sunday. You’re meeting issuers, but you’re also comparing notes with other people in the industry.

You talk about what’s working in their business, what isn’t working and what new opportunities they’re seeing.

That time together is invaluable. It’s also a good mix of business and social interaction. Sometimes spouses come, sometimes children come, and it becomes a more personal experience.

It’s relaxed, but everyone is there for the same reason.”

“That’s the obvious part of it. You’re always looking for new companies or ideas that you may want to bring to clients or become involved with directly.

But the bigger value is the relationship building.

I’ve built some really strong relationships through CEM. That’s harder to do at a huge conference where there are thousands of people and everyone is competing for time.

You can go to a major event, collect a stack of business cards, and still leave wondering what to do with them.

At CEM, you have time to get to know people.”

“One-on-one time with management is invaluable.

Before I invest in a company, I want to have some touch points with management. I want to understand who they are, what they’ve done before, and whether they’re capable of executing the plan.

That becomes especially important if we’re considering becoming a significant shareholder through a financing or through the market, and holding that investment for years.

A news release can tell you about a specific event or development. It can’t tell you much about the people running the company.

Nowadays news releases are carefully written and polished with AI. You can’t polish a live conversation in quite the same way. Sitting across from someone, asking follow-up questions, and speaking with them again later gives you a much better sense of who they are.”

“Management and track record are two of the biggest things.

In small-cap companies, one of the greatest risks is often people and execution. It isn’t always the market or the ability to raise money.

There are a lot of people in this business who can tell a very good story. I call it the “say-it-and-do-it ratio.” Their ability to say it may be excellent. Their ability to actually do it is another matter.

I also look at whether they can explain the story clearly in 20 minutes.

There’s an art to simplicity. If it takes the full 20 minutes just to introduce the company, you may lose the audience before getting to the most important part.”

“They don’t always understand who is sitting across from them.

Do a little homework or start by asking the investor what they want to know. Some people may want the full presentation. Others may already know the basics and want to focus on financing, management, or a particular asset.

The issuer has a short window. It needs to understand its audience and get to the point.”

“Absolutely.

One of the strengths of the event is the number and range of companies you can see in a short period. You may meet a small private company, a much larger public company and everything in between.

There have been CEM conferences where I’ve walked away and immediately wanted to become involved in something.

The other advantage is being able to compare notes right away. I might really like a company and then speak to someone else who saw the same presentation.

They may agree with me, or they may raise something I hadn’t considered. You can also speak with the CEM team, which spends a lot of time with the issuers before the event.

That instant feedback is very useful.”

“They often reinforce what I’m thinking, but they also help fill in the gaps.

You can’t meet every issuer during the weekend, so it’s helpful to hear what people in the other meeting tracks liked and why.

It’s also a chance to sit down after a long day, compare notes, and take a breath.

There’s a serious investment purpose to it, but it’s also fun.”

Warm Regards and Happy Investing,

Fabian Dawson

Each week, CEM Partner and Portfolio Manager, Ryan Iverson, spotlights the ideas and companies sparking investor interest form emerging growth stories to the Top Pick featured across CEM’s Capital Events. This series brings real insights from the annotators shaping tomorrow’s markets and reveals where investors are finding the next breakout opportunities.

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