Nekaneet First Nation part of Canada’s first Indigenous-owned investment firm

Saskatchewan’s Nekaneet First Nation and the Meckelborg Financial Group have teamed up to create the Wiyotisiwin Investment Management Company — the first Indigenous-owned investment firm in Canada.

“Wiyotisiwin means to be prosperous,” Nekaneet First Nation Chief Alvin Francis said in a media release. “For far too long, there has been a disconnect between First Nations and wealth management.

“We decided to partner with Wiyotisiwin Investment Management Company to have more control over our trust investment but also create more wealth to better our First Nation. Wiyotisiwin Investment Management follows all policies and guidelines set out by the trust agreement.”

The Nekaneet First Nation is located in the Cypress Hills area.

According to the release, the company will focus on managing First Nations trust settlements and accessing revenue and capital accounts that are held in Ottawa.

The company also will help First Nations be more active in the management of the settlements, and will help them get access to capital to invest in certain opportunities and projects.

The Meckelborg Financial Group is a boutique investment firm based in Saskatoon. According to the release, the company has been working on building the investment firm for a number of years.

“To move forward on the path to self-determination and become self-governing, First Nations in Canada need to be able to manage their own wealth and realize the opportunities available to them as more sophisticated investors,” said Rob Woods, a partner with the Wiyotisiwin Investment Management Company.

“Nekaneet is truly leading the way and we look forward to other nations becoming partners with us on this journey.”