Created an in-house, integrated team of specialists who collaborate and look at all elements of a client’s portfolio in conjunction is becoming more common in the financial services industry.While many Canadians still have several financial-services providers to address their investment, insurance and financial planning needs, an increasing number are opting for a single wealth manager that offers a full-service approach.
“We’ve seen an evolution of our work with clients and we’re now firm proponents that you need to be looking at everything to give the best possible advice,” Ms. Derlago says. Indeed, Benjamin Felix, portfolio manager with PWL Capital Inc. in Ottawa, says wealth management continues to evolve into a model that considers all aspects of a client’s financial life rather than focusing exclusively on investments.
In addition to the convenience of not having to meet with multiple advisors, Mr. Ferman says it eliminates the need for clients to explain their background and goals to each advisor, making the process more efficient. “You have the investment [advisor] doing [something] over there and you have somebody else [doing something] over here – and there’s no connection [between the two],” she says. “How would the client have the expertise to say, ‘Yeah, this is working’?”
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globeinvestor Canadians!: Beware of a likely soon to happen tits up of stock markets around the world! Many entire sectors won't even exist anymore soon & many 1000s of companies will suffer! My $ would all be moved to safe money market mutual funds ASAP, 2% gains are better than 50+% losses!
globeinvestor I TRY GIVING MY FINANCIAL GUY ADVICE BUT HE DOES'T LISTEN. MY LIFE SAVINGS NEST EGG OF $9000 IS IN A LOCKED IN RETIREMENT ACCOUNT(LIRA). I MOVED $9000 FROM A HEAVY HELD OIL COMPANIES MUTUAL FUND TO A 1.8% ROI/YEAR MONEY MARKET FUND, SELL OIL STOCKS & MOVE $ OUT OF RESOURCE FUNDS!