Advisors need to be able to help their clients meet not just their short-term goals, but also their long-term wealth management goals, and that means building strong relationships with clients and having a clear understanding of their needs and priorities. Today’s guest has built a successful practice doing just that.    Daryn Form has built a successful financial advisory business over the past 20 years. In 1999, he earned the Certified Financial Planner™ professional designation. In 2011, he earned the Canadian Investment Manager (CIM™) offered by the Canadian Securities Institute; this professional designation is required to be licensed as a discretionary portfolio manager in Canada. Daryn uses a scientific process-driven approach to investing—along with his breadth of experience and knowledge in wealth management and advanced financial planning—to help his clients achieve their financial goals.  Topics Discussed in This Episode:   Who Daryn’s firm serves (1:14) Why Daryn decided to become an advisor early on (3:24) Daryn’s onboarding process for clients (9:36) How Daryn approaches client acquisition (14:18) Why Daryn decided to switch to an AUM-based model (20:53) How would he start in the wealth management industry today (32:07)    Links and Resources:    Assante First Avenue   Quotes From the Show:   “In some ways the business has changed dramatically, in some ways it hasn't changed at all - this is still a relationship-oriented business.“   “The majority of our new clients come from our overwhelming effort to do terrific work for people, such that they want to tell other people about it.”  “Their problem is unique to them, but it’s not unique to others, which means it wasn’t unique to us.”    With over two decades of industry experience, Daryn’s expertise stemming from building his own successful practice is useful to advisors of all different levels. Today, he is sharing his experience and wisdom with us.   Below, we’re sharing three key ideas from the episode:  Daryn’s clientele and how he approaches serving and acquiring them  How to build a business that is a good fit for you Daryn’s advice for young advisors breaking into the industry   To listen to the full episode, find us on iTunes or Stitcher, or click the link at the top of the page.  Daryn...

Financial advising isn’t just about what an individual should do with their money while they’re still alive. It’s also about their family and what happens to wealth after an individual passes away. Wills, estate planning, powers of attorney, and healthcare directives are all important things that a financial advisor’s clients should be thinking about, and that means that financial advisors need to think about them as well.   Today’s guest is Tom Deans. Tom is a professional speaker and the author of two best-selling books that deal with the intergenerational transition of family wealth: Every Family’s Business and Willing Wisdom. Listen to the episode to hear what Tom has to say about why there’s an estate planning gap, how advisors can fill that gap, and what kind of effect the COVID-19 crisis has had on the subject of estate planning.   Topics Discussed in This Episode:   How Tom became focused on the issue of estate planning (3:37) Why Canada has an intergenerational wealth issue (6:10) How advisors can fill the estate planning gap and provide advice to their high net-worth clients (12:01) What Tom has noticed about the culture of families that transfer wealth successfully (15:16) What is The Willing Wisdom Index (23:09) Whether there are any trends over the last few months related to COVID-19 (26:57) Links and Resources:  For a free software trial: Sales@willingwisdom.com  Call Tom: (519) 938-2069  Willing Wisdom  Quotes From the Show:  “Estate planning isn’t just about answering the question ‘Who gets my stuff when I’m dead?’ There’s a whole part of estate planning that’s very much about the living.”   “A will is like an MRI for a doctor - the will and a conversation about a will reveals everything.”  “Wealth has always been about family and family relationships.”  Tom provides a unique perspective from outside of the traditional financial planning industry at how advisors can grow into an untraditional niche. His many successes in publicizing the issues facing intergenerational wealth position him to provide insight to all advisors on how they can grow their business by opening discussions on estate planning with their clients.  Below, we will be discussing three key ideas from today’s episode:   The Biggest Problem Facing the Transfer of Intergenerational Wealth  What Successful Advisors Are Doing Right With Estate Planning

Is it possible to make investments and get good returns while investing in assets that reflect your values? Today’s guest says that it is. Tim Nash is the founder of Good Investing, an investment planning firm with a focus on sustainable investing.  Tim's blog The Sustainable Economist has inspired thousands of Canadians to invest according to their values with model portfolios to reflect different definitions of sustainable investing. Tim writes a bi-weekly column for The Toronto Star and is regularly featured in publications such as CBC’s The National, BNN Bloomberg’s Market Call, and the Globe and Mail. Listen to the episode to hear what Tim has to say about what’s involved in sustainable investing, what kinds of returns can be expected from those investments, and how Tim approaches helping his clients invest in a way that reflects their values. Topics Discussed in This Episode:  What Tim and his firm do (1:09) How Tim got into his niche of the industry (3:22) Terms of Socially Responsible Investing (8:50) Where socially responsible investing is in terms of returns (14:20) Tim’s approach to advising and serving clients (20:00) Tim’s sliding scale (24:45) Tim’s advice for investors (46:19)  Links and Resources:  Good Investing The Sustainable Economist Quotes From the Show:  “The number one indicator that is most correlated to financial outperformance is gender diversity on the Board of Directors."  “You don’t need to sacrifice financial performance. You can do at least just as well, and most socially responsible funds have outperformed by a little bit.”  “I very much believe in price discrimination- that some people can afford a higher price, and some people can afford a lower price.” From his unique business approach to his success in the sustainable investing niche, Tim Nash offers insights backed by years operating in the industry. Advisors at any career stage can benefit from learning from his expertise, along with hearing about the potential performance implications of cultivating a sustainable client portfolio. Below, we will be discussing three key ideas from today’s episode:  How Tim Breaks Down Sustainable Investing  Expected Returns in Sustainable Investing How Tim Structures his Business to Serve People from All Walks of Life  To listen to the full episode, find us on iTunes or Stitcher, or listen with the link at the top of this page.  How Tim Breaks Down Sustainable Investing  <...

Sometimes, you may encounter an idea or opportunity that hasn’t yet been adopted by the mainstream, but you just know that it makes sense. Having the vision to know when something makes sense for your practice or your clients even though it isn’t yet mainstream in your field is a quality that can separate the average advisors from the exceptional ones. Today’s guest – an early adopter of ETFs – has insights to share about the importance of knowing when to swim against the tide.  Keith Matthews is a Partner and Portfolio Manager at Tulett, Matthews & Associates. He has an MBA from the Richard Ivey School of Business and is a Chartered Investment Manager. For close to 25 years, Keith has been working with his clients to deliver leading-edge wealth management strategies to help his clients reach their long-term goals. Listen to the episode to hear Keith talk about why he decided to become an advisor, what attracted Keith to ETFs in the early days, and how clients respond to Keith’s book, The Empowered Investor. Topics Discussed in This Episode:  Why Keith decided to become an advisor (3:22) What attracted Keith to ETFs early on (5:57) How Keith approaches advising and serving his clients (12:08) Why doing taxes for clients gives you an edge (15:53) The role of Keith’s book in the client acquisition process (21:17) How Keith leverages software at his practice (32:11) Advice for new advisors (40:11) Links and Resources:  Tulett, Matthews & Associates The Empowered Investor Quotes From the Show:  “All of the early advisors that were doing this knew it made sense, knew it was the right thing, knew it was very friendly for clients.”  “The idea of at least understanding tax sensitivities is huge for an advisor, and it’s a huge value-add for clients.”  “If a client buys into all the following things and wants to have the sort of comprehensive approach that we’re dealing with, wants to be engaged, is serious, wants to see themselves reach their goals, and subscribes to the investment approach, then I think we’ve got a really nice connection.” With an expansive career in the industry, Keith has become an expert on ETFs and passively managed strategies. His knowledge and experience can help you evaluate your processes, no matter what career stage you are in.  Below, we’re discussing three key ideas from today’s episode:  How Keith Pioneered the use of ETFs  How to Set Up Clients for Success with a Thorough Onboarding Process Keith’s Advice for New Advisors

People in different fields and with different types of learning styles think about finances in different ways. There is more than one right way to talk about finances and financial planning – the trick is finding the language that works for you and the language that can best speak to your segment of clients. And that’s what today’s guest is here to talk about. Chris Enns is not just a financial planner – he’s also an opera singer. Over the last 10 years as a performing artist, he’s learned the hard way that ignoring money doesn’t really work. That’s why he founded Rags to Reasonable - an advice-only financial planning & money coaching firm that specializes in working with creatives and people with other non-traditional financial situations. Listen to today’s conversation to hear what Chris has to say about non-traditional financial planning, Chris’s biggest challenges and successes, and what it’s like to speak a different kind of financial language.  Topics Discussed in This Episode: Who Chris’s firm usually serves (8:48) Chris’s strategies for coaching and planning (14:30) What happens after clients improve their financial stability (19:50) Using different financial language for different kinds of people (28:55) What things Chris believes have contributed to his success (31:37) The biggest challenges Chris is facing (35:37) Chris’s advice for financial planners (49:53) Links and Resources:  Rags to Reasonable Quotes by Chris:  “The truth is, the things that make people great artists, and really good at their craft, are the exact things that are going to make them good at their finances.” “I think that one of the things we need to think about more in the financial space is that the answer cannot be that we talk about money in one way.” “I have never had a real job in my life – I’ve worked for myself my entire life.” Chris is using his performative background to portray a new type of story - a story of financial success for his clients. By helping his fellow artists rethink their ability to handle money, he has found success in the niche he has created to help those with unique financial situations. His experience in growing his advisory practice teaches businesses both young and old that customizing a client’s experience and solidifying a client/planner relationship is the key to maintaining success. Below, we’re sharing three key ideas from this episode:  How to work with variable income clients How mentorship and financial independence helped Chris start his practice How to use relationship building as a client acquisition tactic in times of market instability

What does it mean to think outside the box when it comes to financial planning? And what do financial advisors need to know about working with clients through turbulent and volatile events, such as the coronavirus pandemic? Today’s episode will explore some of those questions. Lucas MacMillan has been working in personal finance for 10 years. He is a Certified Financial Planning Professional and graduated from the University of Manitoba with a Bachelor of Science. Lucas manages Camber Private Wealth’s financial planning effort; where all prospects are given a financial plan before investing and all clients receive ongoing financial planning support using Camber’s immersive custom financial dashboards. Lucas also leads Camber’s data science team. What You’ll Learn in This Episode  How Camber approaches building a plan with clients (5:43) How client dashboards work and what their goal is (12:06) How Lucas starts with dashboards (14:30) The client response to recent market volatility (24:20) The goal of Lucas’s data science project (30:49) How Lucas’s firm has been acquiring clients (37:35) Lucas’s advice for listeners (43:31) Links and Resources: Lucas MacMillan Camber Private Wealth Quotes by Lucas: “We really wanted to go way outside the box on financial planning.” “Just getting people a financial plan is a huge win.” “It isn’t extremely important that you get their financial life 100% accurate the first time you touch them. It’s something that you can massage over time, as you get to know the client.” Lucas provides a fresh perspective on the future of the financial planning industry. His practice is using technology and data science to change the way their clients interact with their financial plans, creating a unique way to attract and retain clients. Whether you’re a seasoned wealth manager who is comfortable with status quo, or you are building your financial advisory practice and want to employ fresh tactics, you can learn from the innovative ways Lucas approaches his work. Below, we’re sharing three key ideas from this episode: How Lucas customizes client experience using data visualization How Camber is leveraging data to combat low conversion rates in the financial industry The importance of client education and continuous marketing during times of financial instability To tune in to the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link at the top of this post.  How Lucas Customizes his clients’ experience using data visualization Coming from a background working in a centralized planning division at a larger firm, Lu...

In theory, everyone wants to constantly be improving their financial planning skills, but what does it mean to put that into practice? Today’s guest is a relatively new financial planner who has already achieved more than many who have been in the industry much longer. He’s here to share his proven methods for improving his craft. Zak Smith is the Senior Manager of Financial Planning and Wealth Strategies at Sagium, an independent wealth management firm in Calgary. He is a founding member of the newly formed Financial Planning Association of Canada and volunteers his time as a mentor for the Mount Royal University business department as well as with the CPA Financial Literacy Program. His recent successes include being named the 2019 winner of the PlanPlus Canada Financial Planning Awards, and 2nd runner up of the PlanPlus Global Awards program for the Americas region.  Listen in to hear Zak talk about how feedback and competition make him a better financial planner, how he’s helping clients through the recent volatility in the markets, and what it’s like to serve clients as a team. What You’ll Learn in This Episode:  What made Zak switch from accounting to planning (3:20) Zak’s typical process for clients (6:00) How Zak prepared clients for volatility in the markets (11:30) How feedback and competition make Zak a better financial planner (15:05) The challenges Zak encounters in his practice (23:45) How Zak’s team can provide a personal touch while working as a group (30:30) How Zak applies different perspectives to his work (34:15)  Links and Resources: Zak Smith Sagium Why Financial Planning Software Doesn’t Make Advisors Faster Quotes by Zak Smith: “Whether volatility exists now or in the future, we know it’s going to happen.” “I was always cognizant that hey, is there any metric to what we actually do in this industry as far as a standard for what we’re delivering to our clients?” “Clarity became the utmost piece in developing our plan reports so that it just made the conversation a lot easier with the clients.”  Zak is unique as a guest on this show: he’s only five years into his career as a financial planner, and he doesn’t run his own practice. And yet, he’s built into his career ways to constantly improve himself as a planner. So whether you’re just starting or have been doing this a long time, and whether you run your own firm or not, you can draw from his experience and find ways to build on your skills. Below, we’re sharing three key ideas from this episode:   How Zak prepared clients for volatility in the markets How fe...

When it comes to the question of how open to be with clients, at what point of the spectrum do you fall? Do you teach them enough that they feel invested in the plans that you build? Do you bore them to tears with lectures about the industry that have nothing to do with them? Today’s guest has found the balance between transparency and relevance, and he’s here to show you how you can increase the value of your service for your clients. Sasha Djurdjevic, CIM, FMA, DMS, is a portfolio manager serving global private and institutional clients at his firm, River Wealth. He has extensive capital markets experience and has held senior investment roles at prominent investment companies in Canada. Listen in to hear what Sasha has to say about his educational approach to financial planning, his tricks for communicating complex ideas to clients in a way that’s relevant to them, and how he balances his business with raising four children. What You’ll Learn in This Episode:  Sasha’s unusual niche (6:40) Sasha’s 70% rule for financial planning (13:10) How Sasha acquires clients who live abroad (20:00) How Sasha uses idea generation to communicate complex ideas to clients (24:20) The value of transparency and openness (28:05) How Sasha balances running his practice with his personal life (38:20) Why it’s important to know yourself as an independent advisor (46:10)  Links and Resources: Sasha Djurdjevic Aligned Capital Partners Inc. Quotes by Sasha: “Trying to bucket people, and say that if you’re a non-resident you have these unique issues, is useful to a point, but the reality is that every client is different.” “Help people to understand the context a little more, and you’ll end up with a more satisfied or self-actualized client, who then will value your work more highly.” “Instead of trying to come up with a perfect plan, come up with a plan that does a pretty good job of reflecting what’s in front of you and what you know, then put your full effort into that plan.” With Sasha’s experience working with a mix of institutional, retail, and global clients, he’s had to shift contexts, meet people where they’re at, and translate difficult concepts into learning opportunities relevant to each unique client. Below, we’re sharing three key ideas that he’s imparting to you: How Sasha approaches educating his clients The value of transparency and openness Sasha’s 70% rule for financial planning For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above. How Sasha approaches educating his clients When...

Financial advising is a profession that draws in an eclectic mix of individuals who come from different backgrounds and whose career paths haven’t always been straightforward and predictable. Today’s guest formerly served in the military as a forensic accountant; now he not only runs his own financial practice, he’s also the world’s first (and probably only) forensic accountant blockchain professional. He joins the show to share what he’s learned from his military experience that has helped him serve his clients and grow his practice on referrals alone. Robert Watterson is the owner of Watterson Financial Solutions, a firm that handles financial planning, accounting, compliance, insurance, asset protection and tax services. Listen to hear what Robert has to say about how working in forensic accounting informs his current work, how he remains focused with so many different areas of practice, and how his interest in blockchain technology helped him develop an audit-ready bookkeeping system. What You’ll Learn in This Episode:  How Robert moved from military forensic accountant to advisor (5:00) How his military experience informs the way he acquires clients (9:10) Staying focused while providing different offerings (18:40) How the different parts of Robert’s business build on one another (21:40) The blockchain’s impact on the financial industry (23:40) Robert’s audit-ready bookkeeping system (30:30) Robert’s biggest challenge in growing his practice (35:10) Why service is the most important part of running a practice (38:00) Links and Resources: Watterson Financial Send Robert an email Quotes by Robert: “In the military, one of the things that they taught us was never look for what’s good for you; look for what’s good for the overall project you’re working on. And if you’re working with a client, that means the overall good for the client.” “Make yourself referable… If you are referable, they will come back to you for work or they will have somebody come to you for work.” “If you don’t worry about making money off every client, the client will worry about making sure you make money.” With Robert’s different interests and areas of expertise – forensic accounting, blockchain technology, compliance and financial planning – it can be difficult to see how everything fits together. And yet, he’s able to pull knowledge and skills from different areas to create a unique practice in a way that we can all learn from. How Robert’s military experience informs the way he acquires clients Robert’s obsession with learning Robert’s biggest challenge in growing his practice For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above.

Higher returns often mean higher volatility — so how do you know when it’s worth it to be more aggressive and when you should settle for a lower, but more stable, return? And how can you help clients trust that you’re taking the right approach? Today’s guest is always thinking about risk and return and has a framework to help you balance the two. Martin Pelletier is a portfolio manager and managing director at TriVest Wealth Counsel, a division of Wellington-Altus Private Wealth. He is a Chartered Financial Analyst (CFA) charterholder and has extensive investment industry experience, including senior roles in capital markets, private banking, venture capital, wealth management, and family and multi-family office. Martin is regularly featured in the media and is a weekly contributor to the Financial Post's Investment Pro section. He is a member of Thomson Reuters Canada’s top 40 social influencers in finance, innovation and risk (2017), was a top-10 finalist for the BlackRock Award for Canadian Portfolio/Discretionary Manager of the Year (2018) and was recently named to Wealth Professional Canada Magazine’s Leading Portfolio Managers (2019). Listen in to hear what Martin has to say about risk, return, and the foundation of his success. What You’ll Learn in This Episode:  How Martin (accidentally) avoided the financial crisis (2:05) How goals-based benchmarking removes unnecessary risk (6:25) How asset management differs between high net worth and ultra-high net worth clients (12:30) Building trust at scale (17:00) How thinking big and building small has contributed to Martin’s success (21:55) How advisors need to reposition themselves to succeed in a changing industry (28:20) How Martin has eliminated the most challenging aspect of his business (33:40) Why he thinks you should never get comfortable (40:40)  Links and Resources: TriVest Wealth Martin Pelletier Email Martin Quotes by Martin:  “With ETFs coming out, it’s democratized the investment industry, and commoditized it.” “It’s all about building relationships. The number one reason why someone’s going to decide to go with you is trust.” “If you really want to impose change, you have to think big and build small.” Martin Pelletier’s financial advice is sought after both by the media, and high and ultra-high net worth families. Today, he’s sharing his expertise with us. Below, we’re sharing three key ideas from this episode: How goals-based benchmarking removes unnecessary risk How asset management differs betwe...

Eight years ago, it would have been nearly impossible to imagine the incredible impact fintech would have on the financial services industry today. And even now, we’re just scratching the surface of what this industry can become in the future.  In a change of pace, today’s episode is an introduction to one of our favourite podcasts: Fintech Impact. You’ll hear host Jason Pereira interview Tea Nicola, CEO of Wealthbar, and our own Pawel Brzeminski, CEO of Snap Projections. The Fintech Impact Podcast is hosted by Jason Pereira who explores the fintech space and interviews its major players — both incumbents and newcomers. Whether they’re trying to make existing finance players more efficient or looking to disrupt the industry altogether, this show explores their impact on consumers and the industry as a whole. Listen in to hear about Wealthbar’s acquisition of Snap Projections, what that relationship will look like going forward, and Tea and Pawel’s shared vision for how fintech can impact the industry — and the lives of average Canadians. What You’ll Learn in This Episode: Why a partnership between Wealthbar and Snap Projections makes sense (2:05) What the end product looks like for both clients and advisors (6:30) Pawel’s product-building philosophy (16:40) Revealing Tea and Pawel’s wishes for their industry (23:00) The biggest challenges Tea and Pawel have faced in scaling their companies (27:05) What gets these founders out of bed every morning (30:55) Links and Resources: Wealthbar Tea Nicola Snap Projections Pawel Brzeminski Fintech Impact Jason Pereira  Quotes from the Episode: “It just made sense to basically own software that is going to eventually become what I want to see, which is a vision for a full practice management platform for an independent financial advisor.” — Tea Nicola  “This is technology that’s gonna enable you, not threaten you.” — Jason Pereira “In a lot of cases, it actually takes an advisor to make adjustments. I don’t think we can really have a fully automated tool that can provide the best solution for every single case.” — Pawel Brzeminski With their shared goal of transforming the financial services industry in Canada and making the lives of both advisors and consumers easier, Tea and Pawel’s recent partnership is a match made in heaven. Today, they’re opening up about what that vision is, how it brought them together, and the impact they hope to have on Canadians. Bel...

It’s one thing for the general public to misunderstand what financial advisors do or be mistaken about important principles of personal finance. But what about financial advisors? What myths and misconceptions do you believe that might be holding you back from giving your clients the best advice? That’s what today’s guest is here to talk about. John De Goey is a Portfolio Manager with Wellington-Altus Private Wealth. He has built a national reputation as a trusted authority on professional, transparent and evidence-based financial advice. He’s written for publications including Canadian MoneySaver, MoneySense and The Globe and Mail, and appeared on television programs like CBC’s MarketPlace, News World and BNN’s Market Call. He’s the author of The Professional Financial Advisor, now in its fourth edition, and STANDUP to the Financial Services Industry, released last year. In today’s episode, he’ll discuss misconceptions commonly held by financial advisors, why advisors might hold these misconceptions, and what you should believe instead. Listen in to hear more about John’s work, research and advice for advisors and investors. What You’ll Learn in This Episode: The unglamorous yet insightful reason behind John becoming an advisor (3:35) Common myths and misconceptions in financial advising (5:00) What advisors get wrong about cost (9:15) Why advisors ignore the evidence and recommend activities that don’t add value (18:20) The key beliefs advisors should focus on improving (26:35) Why investors will need to be part of the solution (21:55) Why the reason for advisors’ beliefs isn’t the most important question to explore (38:20)  Links and Resources:  Standup Advisors STANDUP to the Financial Services Industry: Protecting Yourself From Well-Intended But Oblivious Advisors Email John Quotes by John De Goey: “There are a lot of advisors that should be part of the solution, want to be part of the solution, but the really ugly secret that a lot of people in the industry don’t want to come to terms with is that there are many advisors that are themselves part of the problem.”  “Any advisor who is worth his or her salt would do very well to understand that where the rubber hits the road is in the behaviour that they help to enforce or disabuse their clients of.” “This is perhaps the only industry in the world that I’ve ever found where the low-cost products are the best products.”...

What unique financial planning challenges do individuals face when they live full- or part-time in the US but have Canadian citizenship (or vice versa?) How can you help clients who straddle two countries? And more to the point – should you always be the one to help them? Today’s guest is diving in deep to help you understand the pertinent issues around cross-border financial advising. Terry Ritchie is a Partner and Director of Cross-Border Wealth Services for Cardinal Point, with offices in Toronto, Calgary, Irvine, Phoenix, and Boca Raton. He is a Registered Financial Planner in Canada and is enrolled to practice before the U.S. Internal Revenue Service as an Enrolled Agent. Terry is also a Trust and Estate Practitioner affiliated with the Society of Trust and Estate Practitioners. He has been practicing cross-border financial, investment, tax and estate planning for more than 30 years.  What You’ll Learn in This Episode:  What actually drives people to move between Canada and the United States (6:45) Why cross-border work matters to Terry (10:10) What advisors need to know about visas and green cards (13:40) Important elements of U.S. income tax (23:50) Investment limitations of Canadians in the US (28:10) How cross-border living affects estate planning (37:10) The biggest cross-border planning mistake you can make (43:45) Terry’s #1 tip for growing a career you really love (53:20)  Links and Resources:  Cardinal Point Email Terry Quotes by Terry Ritchie:  “I can quantify the numbers that you might be better off from a tax perspective in that jurisdiction or country versus this one. But really at the end of the day, it’s truly around lifestyle. Where are they going to be happiest?” “It’s just the nature of the business. Markets go up and down... Tax laws change. Family dynamics change.” “Advisors have a right to say no,” he says. “There has to be a fit – on both sides.” Terry’s firm, Cardinal Point, offers a total solution to individuals who have Canadian and American financial matters – snowbirds, those who have dependants in one country while living in the other, and those who move between the two countries. And as someone who has financial matters in both countries himself, he has unique insights into what it takes to plan for people like him. Below, we’re sharing three key ideas from this episode: What actually drives people to move between Canada and the United States The biggest cross-border planning mistake you can make

It’s one thing to build up your own practice. But as we approach the end of the year, we’re taking a step back to look at what it takes to build an entire profession. Today’s guest is here to show us what the financial planning industry can become at its best. Jason Pereira is a Senior Financial Consultant with Woodgate Financial Inc and IPC Securities Corp. He is one of Canada's most respected authorities on financial planning, the financial industry, and financial technology. He’s been awarded 7 industry designations including the CFA, CFP, and RFP. He has won and been named a finalist for several industry awards, and he is the only 3-time winner of the PlanPlus Global Financial Planning Awards.  Jason is also the leader of a growing group of financial advisors seeking to improve financial planning, both for advisors and consumers. As the president of the newly launched Financial Planning Association of Canada (FPAC), he’s here to talk about his hopes for the future of financial planning in this country. What You’ll Learn in This Episode:  Why FPAC exists and what its goals are (2:40) Why FPAC needed to be a new organization in order to reach its goals (10:30) How FPAC will benefit the public (15:30) How FPAC plans on handling enforcement (17:05) The benefits of FPAC membership to advisors (21:40) What types of memberships are available (27:05) What the reception for FPAC has been like in the industry (29:45)  Links and Resources: Financial Planning Association of Canada FPCA Charter Email Jason Woodgate Financial Inc  Quotes by Jason Pereira:  “This is a coming together of like-minded individuals who want to see the professionalization of planning in Canada, and to basically move this industry and this country forward.” “We’re trying to create the member body that basically is going to push for active change.” “We’re not going to be able to build the industry up if we don’t provide the resources to do that.” You might remember Jason from an earlier episode of the show (and if you didn’t, do take the time to hear his advice for competing – and winning – in the Canadian HNW segment). However, today’s show is a little different as we’ll be hearing from Jason about his passion project of transforming financial planning from a sales-based industry to a robust profession in Canada. Below, we’re sharing three key ideas from this episode: ...

Family businesses inevitably come with complex scenarios for a financial advisor to sort through. But the biggest complications may not be what you expect: the emotional aspect of family, business, and money is often the foremost concern when beginning conversations around business transitions. Today’s guest brings a rock-solid technical background and soft skills that helps her see the full picture and help families navigate the wealth transition landscape. Cindy Radu is a family wealth transition advisor. She works with individuals, family enterprises, business owners and family offices to maneuver the complexities and opportunities of multi-generational wealth. Cindy has over 25 years of legal, fiduciary, trust and governance experience, giving her a bird’s eye view of the many issues families can face. Listen to the episode to hear how Cindy frames wealth, family enterprise, and success in a way that helps her clients handle the complicated financial and emotional factors involved in transitioning family wealth. What You’ll Learn in This Episode:  Rethinking the key issues around transitioning wealth and family businesses in Canada (8:05) The difference between a family business and a family enterprise – and why it matters (11:10) Cindy’s first steps when advising clients (18:45) How Cindy bridges critical gaps by working effectively with other advisors (25:25) Helping families avoid assumptions and get on the same page (33:40) What wealth and wealth management really mean (39:30)  Links and Resources:  Cindy Radu Cindy on LinkedIn Email Cindy Quotes by Cindy Radu: “Way too many families are willing to stake everything they work so hard for on basically a hope and a prayer that everything is going to turn out alright.” “Referrals from clients are frankly the strongest possible referrals that you can get.” “I’ve been successful in my practice because I’m able to bridge those emotional and technical aspects of the wealth planning and transition.” Cindy has been a Chartered Accountant and estate planning lawyer, and she’s also worked with large financial institutions. And yet all of her work has had one common goal: helping families through transitions. Today, she shares her experience to reframe the conversation around family wealth transitions. Below, we’re sharing three key ideas from this episode: Rethinking the key issues around transitioning wealth and family businesses in Canada The difference between a family business and a family enterprise – and why it matters What wealth and wealth management really mean For the rest of the episode, find the podcast on iTunes or Stitcher, or hit...

Everyone says they put their clients’ best interests first, but what’s the best way to set yourself up for success in this regard? By introducing portfolio management companies into his business model, today’s guest has structured a financial advisory practice that allows him to focus on his clients first. Peter Cishecki started Everything Financial Group in 1996 after working for many years at one of Canada’s leading insurance companies. He has created an all-in-one financial experience for his clients where he built trusted, long-term relationships by providing complete financial strategies and solutions for financial peace of mind. Listen to the episode to hear about how Peter came to work with portfolio management companies on a referral basis and how it’s affected his business.  What You’ll Learn in This Episode:  Why more advisors don’t work with portfolio management companies (9:30) Why your clients wish you worked with a portfolio management company (14:35) How Peter structures his fees – and how he provides enough value to earn them (18:55) How Peter’s work culture transformed when he began working with portfolio management companies (27:30) The biggest challenges Peter has faced in his career (30:40) Three misunderstandings about wealth management (33:50) How Peter gets in front of prospective clients (35:20)  Links and Resources: Everything Financial Group  Quotes by Peter Cishecki:  “When I can get people to change their outlook on life and start to enjoy their money while they’re young and healthy, that’s huge satisfaction.” “If you’re going to collect a fee, do something for the person.” “Truly look yourself in the mirror every day and say ‘What am I gonna do today to make a client’s life better?’” In late 2010, Peter noticed he was already running his practice like a portfolio management company – offering six different model portfolios and spending all his time on administrative work. He realized that by working with an actual portfolio management company, he could let other professionals handle that work while focusing his efforts on what he really wanted to do: building financial plans. Since making the switch, his practice has grown by at least 500%, and his entire office culture has changed into less of a team and more of a family. Below, we’re sharing three key ideas from this episode: Why your clients wish you worked with a portfolio management company Why more advisors don’t work with portfolio management companies How Peter makes sure he provides value and earns his pay

When growing your book of business, you can either build it from scratch yourself or join up with another advisor and purchase their practice. Today’s guest is most experienced in the latter, and he’s here to share the insights, benefits, and perils of buying (and selling) your business. Brad Amlin has put in more than 17 years in the financial services business. His primary area of expertise is financial, estate and tax planning, focusing on strategies that include the use of life insurance and investment vehicles. He works with both business owners and high net worth individuals. Brad has also been through numerous business transitions, both as the advisor buying practices and, more recently, as the one selling his own business. Listen in to hear how Brad built a $30 million AUM business to $150 million – and why he decided to sell. What You’ll Learn in This Episode:  How Brad sought out clients in his early days as an independent advisor (8:15) How Brad built Cornwall Wealth Management from $30 million to $150 million AUM (12:35) What Brad looks for in clients (24:45) How to help your clients through a business transition (28:50) Why Brad’s practice has both MFDA and IIROC advisors (31:30) Major challenges when undergoing a business transition (33:35)  Links and Resources:  Email Brad Cornwall Wealth Management The Personal Coach  Quotes by Brad Amlin:  “Success really revolves around the continuity of who the client’s dealing with.” “Even if you do want to, over time, rebrand the company, I think maintaining the brand… for a specified period of time post-transition really helps the continuity and maintains that client.” “I find the challenge to be maintaining confidence and maintaining that ‘up’ feeling in an environment that seems to be rapidly shifting through regulatory change.” While Brad started his financial services career working for a bank, he’s since had quite the career building and buying financial advisory businesses; at its peak, his practice had $150 million AUM. In his mid-forties, he decided it was time to sell his business to another advisor and get back to what he loves best: time and working directly with clients. Below, we’re sharing three key ideas from this episode: What Brad looks for in clients How to help your clients through a business transition Solutions to 3 major business transition challenges For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above.

You’re an expert in your field, but what do you do when you come across a planning situation that’s out of your depth? Today’s guest works with advisors and their clients to create better financial and retirement plans. Yvonne Martin-Morrison is a financial planner with Raymond James Ltd.’s Retirement and Financial Planning Group. In 2019, she was the winner of the PlanPlus Global Financial Planning Award for Canada. She provides planning services, advice, and tax intelligence for Raymond James advisors and their clients. Her work also involves creating educational materials, presentations, and publications to empower advisors and help them better serve their clients. Listen to the episode to find out what Yvonne has to say about her no-nonsense approach to financial planning, her principles of good financial planning, and how to approach decumulation.  What You’ll Learn in This Episode:  How Yvonne approaches working with advisors and their clients (5:25) When advisors should reach out to Yvonne for support (13:20) Overcoming clients’ objections to planning (17:35) Yvonne’s basic, no-nonsense definition of financial planning (19:45) Yvonne’s approach to decumulation in retirement (36:20) The power of principles (40:40) Common mistakes advisors make when bringing in an outside expert (50:45)  Links and Resources: Raymond James  Quotes by Yvonne Martin-Morrison: “It’s very important that I avoid getting lost in the details right at the beginning.” “What is the point of planning if you’re not implementing the strategies and solutions?” “When we get those outputs and those software results, that allow me to really dig into analysis. And I think that’s one of the challenges for a lot of advisors is they think an output is the end. For me, that’s the beginning.” Yvonne has been through it all as a financial advisor – from her uncertain rookie years to taking on some of the most complex situations in the business. Now, she steps in to help other advisors create integrated and comprehensive financial and retirement plans for their clients. Below, we’re sharing three key ideas that Yvonne has to share in this episode:   How Yvonne approaches working with advisors and their clients Overcoming clients’ objections to financial planning The power of principles in retirement planning For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above. How Yvonne approaches working with advisors and their clients Yvonne approaches working with advisors the same way you probably approach working with your clients. She asks them about where they are at in their planning, how they’ve been doing, what’s been...

Helping people succeed financially isn’t about dollars and cents or numbers on a spreadsheet. It’s really about uncovering and understanding where clients are in life and how they’re feeling about it. Today’s guest runs a practice that helps his clients uncover their goals and find smarter ways to achieve them. Mark Shimkovitz has been providing financial planning advice and managing investment portfolios for 25 years. He works together with his wife Robin, a life coach, to take a life-first approach to financial planning. This approach allows him to build personalized financial plans and investment strategies. Listen to the episode to hear what life-first financial planning is, what it was like for Mark to start an independent practice after over twenty years working for banks and why he’s excited about giving back. What You’ll Learn in This Episode:  How Mark compares working for a bank to running an independent practice (5:10) How Mark brings his philosophy into the conversation with clients (12:30) Mark’s three-dimensional planning process (14:45) How Mark and his team help clients create – and stick with – a budget (26:10) Why investment management is just a small slice of the wealth management pie (31:15) Mark’s focused approach to acquiring clients (37:40) How giving back is – and isn’t – part of Mark’s business (49:25)  Links and Resources:  Mark Shimkovitz Living Richer Podcast  Quotes by Mark Shimkovitz:  “I’m very clear, in fact, in saying that you know when you’re hiring me, the investment management component is only one slice, and it’s not a very large slice.” “We need to be able to articulate and demonstrate why we deserve to be paid more than, you know, 30 or 40 basis points that could perhaps be attributable to the investment management.” “Let’s really look at the big picture. Let’s look at what’s really most important to you. Those should be your benchmarks for measuring success.” With plenty of experience working for banks and now running his own financial practice, Mark has figured out a lot about what works in financial planning – and what doesn’t. He has a clear philosophy and strategy for his own business, so it makes sense that’s exactly what he helps his clients with in their own lives. Below, we’re sharing three key ideas from this episode:   A three-dimensional planning process How Mark and his team help clients create – and stick with – a budget Why investment management is just a small slice of the wealth management pie For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above.

Most people know that divorce can take a financial toll. So what’s the best way for clients to protect their assets during a divorce? And more importantly, how can you help your clients plan for the future given their new financial reality? Today’s guest will answer these questions and more. Debbie Hartzman is a financial advisor, holding CFP, CLU, CDFA (Certified Divorce Financial Analyst), TEP and CEA designations. She’s also an author and a national expert on helping individuals undergoing separation or divorce proceedings. Listen in to hear what she has to say about becoming an advisor, understanding the nuances of working with divorcing or separating couples, and the benefits of using a financial advisor during separation or divorce.  What You’ll Learn in This Episode:  Understanding the difference between separation and divorce (12:30) The benefit of having a financial advisor during a divorce (16:20) The tax implications of divorce (29:10) How Debbie approaches potential conflicts of interest (23:30) How new advisors can begin specializing in divorce (48:30) Staying focused when helping clients through a separation (53:40)  Links and Resources:  Hartzman and Associates To order Debbie’s book, Divorce isn’t Easy, But it Can be Fair, contact her through her website above.  Quotes by Debbie Hartzman:  “If I’m going to be in this business, I’m going to be that bus driver. I’m going to be the coordinate between the lawyer, between the accountant, and the client so that there’s somebody watching the big picture and helping the client make good financial decisions.” “That’s where my value comes in. It’s being able to help them understand how that’s going to impact them not today, not tomorrow, but in ten or fifteen years down the road.” “I wouldn’t be a good planner if I didn’t plan for myself. So my plan for myself was: I love this business, I love giving back, I love helping people, but I also want to do it on my terms instead of the business running me.” Now approaching a quarter-century in the business, Debbie has (literally) written the book on having a divorce that is fair and ensures long-term financial stability. Coming from a legal background, she understands how to work with lawyers to help clients make the most of marital separation. Below, we’re sharing three key ideas from this episode: The benefit of having a financial advisor during a divorce Staying focused when helping clients through a separation How new advisors can begin specializing in divorce   For the rest of the episode, find the podcast on iTunes or Stitcher, or hit the link above. The benefit of hav...