Growing Your Financial Advisory Practice | Insights For Financial Advisors, Planners And Investment Managers

What’s the best way to offer financial advice to business-minded clients? For starters, it helps to be clear on what it means to be a business owner yourself. Today’s guest has taken serious steps to develop himself as an entrepreneur, which helps him work with his own clients, most of whom are business owners.  Dustin Serviss of Serviss Wealth Management has been featured as the number 1 Top 40 Under 40 leader in 2014 by the Kelowna Chamber of Commerce. In 2017, Serviss Wealth Management was awarded the Top 10 Wealth Builder Award by its previous investment dealer (consisting of over 800 advisors). Serviss Wealth Management was also voted one of the Top 3 Micro Businesses in Kelowna by the Kelowna Chamber of Commerce in 2018. Listen in to hear how Dustin helps business owners manage their wealth – and their businesses.  What You’ll Learn in This Episode:  How Dustin went from day trading as an engineer to running a successful practice (4:10) Dustin’s unique appro

For many families, the wealth-building process is one that crosses several generations. It’s just not always easy to keep everyone on the same page. However, the benefits of building on family values and past lessons is a huge advantage that family businesses can tap into. Jamie Townsend is an advisor who recently completed his designation in the Family Enterprise Advisor (FEA) program, which focuses on helping families manage their greatest asset through continuity. Jamie works with business owners and professionals to help simplify their financial lives. He was recently recognized by Wealth Professional Magazine for his work as a Top 50 Advisor in Canada. Listen in to hear what Jamie has to say about the challenges that family businesses face, the best ways to help, and the part of financial advising where shortcuts just won’t cut it.  What You’ll Learn in This Episode:  Why Jamie got the FEA designation and how it has served him (2:35) What it’s like being in business wit

How does charitable giving factor into wealth management? How can you help your clients pursue their charitable goals and earn great financial returns? Today’s guest has mastered helping clients balance their finances with their values—something that most financial advisors aren’t doing because they’re not taking the time to even understand their clients’ goals. Ryan Fraser is a nationally known Planned Giving expert. His firm, Quiet Legacy, helps individuals incorporate their personal values into their financial planning experience. Ryan is a past president of the Estate Planner Council of London and a past chair of the Canadian Association of Gift Planners (CAGP) London Roundtable. He has served extensively in leadership positions on boards and committees of numerous not-for-profit organizations including the Brain Tumour Foundation of Canada, London Heritage Council, Trillium Plus Music and Letters and many others. Listen in to hear what Ryan has to say about how his firm serv

Compliance has a bad rap in the financial services industry, but today’s guest has a unique perspective. Now a compliance officer, he actually started his career in the financial services industry as an advisor, so he understands exactly how compliance affects—and can even improve—your business. He’s also passionate about helping advisors run their own independent practices while staying compliant.  Joining the podcast today is Eric Wachtel. Eric is the national chief compliance officer for IDC WIN where he is responsible for maintaining and strengthening IDC WIN’s compliance programs and initiatives. He has 24 years of experience in the life insurance industry and has worked steadily to build IDC WIN’s compliance programs while maintaining a pro-business environment. Eric is also the compliance chair of Legislative Affairs for the Canadian Association of Independent Life Brokerage Agencies (CAILBA) where he participates in numerous insurance industry working groups an

The conflicts of interest within embedded compensation models are well known, but how can you actually get away from it and maintain a stable and comfortable revenue stream? Today’s guest mastered his business’ transition to a fee-based model, and he’s on a mission to share what he’s learned with other advisors.  Adam Chapman is a native of London, Ontario, where his practice is currently located. He completed his B.ACS at Western University, back when it was UWO, and has added his CFP and CLU designations since starting his business back in 2005. Adam focuses on retirees and people who are about to retire. He's paired this niche audience with a business model that has him focused on switching his services over to an almost exclusively fee-based and fee-for-service offering in the next one to two years.  What You’ll Learn in This Episode:  Why a young advisor like Adam is the perfect fit to work with retirees (3:45) Adam’s transition to a fee-based practice

Estate planning can cause rising tensions within a family. It’s not necessarily that people don’t know what needs to be done (though that can be an issue, too); it’s that the decisions are emotional and often difficult to think about. So how can you make the process as painless as possible for your clients and help them start the conversations that will make things easier for them and their families down the road? This is what today’s guest, Bill Green, tackles in today’s episode. Bill is a Certified Financial Planner, Financial Management Advisor, and Chartered Financial Divorce Specialist. With over 29 years of experience in the industry, he holds his Chartered Investment Manager designation and is a member of the Nazrudin project, an international advisory think-tank. Bill is the author of two books and now works as a fee-only financial planner on an hourly basis, largely offering second opinions and financial plans for other advisors’ clients. What You’ll Learn in

The vast majority of consumers, other than those in the high net worth segment, will only ever know about investing in the public market. However, alternative investments can diversify a portfolio and help it withstand typical volatilities. Today’s guest explains how and why she decided to make private investments available to all of her clients. Janea graduated from the University of Saskatchewan with a degree in Marketing, then decided to start her own financial advisory firm in 2008. She started as a personal financial advisor offering independent insurance and investment product, but after obtaining her CFP in 2012, she decided to drop her mutual funds license and become a private wealth advisor with Raintree Financial Solutions. Janea is listed as a top advisor within her investment dealer and her managing general agency, she has been nominated for the Women in Wealth Management Young Gun of the Year Award, and received the Saskatchewan Award of Merit for Business Leadership in 2016. What You&rsquo

Working well with other professionals is critical to helping your clients and growing your financial advisory practice. But how can you earn the trust and respect of specialists in other fields? Today’s guest will give you practical advice for working effectively with both your clients and other professionals for the benefit of everyone involved. Jamie Robb is the Principal and Senior Wealth Advisor at FIDUCIA Wealth Management. Since he began his career in 1999, Jamie has worked with Canadian business owners and families to help them successfully manage their wealth. He’s also an expert at working with other professionals and acting as the cohesive force that brings their knowledge together to help his clients achieve their vision of financial success. Listen in to the episode to hear how Jamie manages relationships with clients and other professionals, how he helps his clients decide what financial success means for them in the first place, and how he managed to build a successful business as an

How much have you thought about marketing your practice? Do you have a plan for finding potential clients, building trust with them, and retaining them? Maybe you’ve resisted because you think a marketing plan is unimportant, takes a lot of time, and costs a lot of money. Today’s guest not only understands why a marketing plan is critical to your business’ success, but he also has a simple framework for a 1-page marketing plan that you can create quickly and easily. Joining the podcast today is Allan Dib. Allan is a serial entrepreneur, rebellious marketer, and best-selling author. Over the course of his career, Allan has founded and grown businesses across several industries, including IT and telecommunications. His book, The 1-Page Marketing Plan, offers a simple, fast, and reliable way to implement a marketing plan that works for your business. Listen in to hear how the plan can work for you, a simple question to help you to identify your ideal target market, and how you can differentiate

Everyone wants to build wealth for their family, but so many investment portfolios have nothing to do with clients’ lives and the goals they are trying to achieve. Too often, advisors just sell financial products without looking at the actual needs of their clients. Today’s guest is an expert in creating a good financial planning foundation for his clients’ investments. Gregg Filmon is the President of Value Partners Investments, one of Canada’s fastest-growing financial firms. Gregg works side by side with his clients, helping them build wealth to finance their dreams for the future. Value Partners Investments has already created over $820 million in investment gains for families across Canada. Listen to the episode to hear Gregg’s insights about the critical importance of planning and how he leverages second opinions to bring in new clients. What You’ll Learn in This Episode: Why Gregg’s firm’s structure is so unique (1:10) What goes wrong for families who ar

You’re a pro at helping clients handle change in their financial plans, but how can you navigate major transitions in your own business? As an entrepreneur and advisor, you have to continue to give clients excellent service even during times of change; today’s guest is very familiar with this professional challenge. Jim Greenwood is a Managing Partner at Blue Sky Lasting Wealth. A CFP with 25 years of experience, he most recently transitioned to IPC Securities and founded BlueSky Lasting Wealth. Listen to the episode to hear what Jim has to say about managing changes — both in your career and in the industry. What You’ll Learn in This Episode: How Jim is handling major changes to his business (1:25) How Jim got into wealth management — and how the landscape is different today (4:10) Meeting high service standards with amazing communication (7:00) Approaching transition and succession plans (13:40) How a financial plan is like a marathon (16:05) The most difficult aspect of advis

You can promise a lot as a financial advisor, but do you always provide the value your clients are paying for? Today’s guest, Dean Trudeau, thinks the key is as simple as setting out clear expectations ‒ and then making sure you meet them. A Certified Financial Planner, Dean began his career in the financial services industry in 1987. Over the years, he has served as Principal of Horizon Financial Services, Sales Manager of Manulife Financial/Manulife Securities, and District Vice President of RBC Global Asset Management. His firm, OPES Wealth Management, is a boutique wealth management firm that caters to business owners and professionals. Listen to the episode to hear what Dean has to say about providing value to clients by always delivering on what you promise. What You’ll Learn in This Episode: Dean’s 3-step process for providing integrated advice (5:50) How Dean makes sure his services are worth the fees (9:20) How Dean identified his sweet spot of 125 clients (15:55) Applying Investme

When it comes to building a successful wealth advisory business, most advisors have the planning and one-on-one relationship side down pat. But what they’re often missing is the business know-how and the ability to systematically build a great client experience. Today’s guest has not only done this as a successful advisor himself; he’s also dedicated his career to helping other advisors build better businesses. Chris Reynolds is the Co-Founder, President, and CEO of Investment Planning Counsel. With over 25 years of experience in the business, he uses his knowledge and skills to work one-on-one time with advisors, helping them improve their businesses. Under his leadership, IPC has become one of the fastest-growing wealth management companies in Canada. Listen to today’s episode to learn from Chris about what advisors can learn from Disney, simple steps that can make a big difference in your business growth, and new opportunities in the sudden money segment. What You’ll Learn in

An effective financial advisor does more than help their clients prepare for their own futures: they also help them allocate their assets in accordance with their values. Today’s guest is here to share how he helps his clients live by their values, from setting their goals to planning their estates. Sterling Rempel has more than 30 years of experience in the financial services industry. Twenty years ago, he founded his own independent financial planning firm, Future Values Estate & Financial Planning, where he serves as the principal advisor. Sterling is a Certified Financial Planner, holds the distinction “Fellow of FPSC” and is a two-time finalist in the PlanPlus Canada Financial Planning Awards. Listen to the episode to hear what he has to say about estate planning practices, the importance of education for bringing in new clients, and more. What You’ll Learn in This Episode: What planners get wrong about the financial planning process (7:05) The three questions to address in e

Growing your advisory practice is certainly challenging, but there are some clear differences that separate out the most successful advisors from everyone else. Today’s guest is an expert in how advisors  rise to the top, as he spends his time developing tools, resources, and training for advisors, focusing on client relationships. Chris Paterson is the National Director of Sales Development for Ivari. He’s worked in the industry since 1995 and has many years of experience working in advisor support roles. He worked with one of North America’s largest financial services organizations where he led a multi-channel national wholesaling team of 30 specialists that doubled the number of advisors selling living benefits insurance from 7,000 to 14,000 over two years. He’s also been an advisor, consulted in the private wealth management industry, and has been an advanced case consultant for high-end financial professionals. Listen to the episode to hear Chris’ thoughts about what se

Building and managing a successful financial investment firm is easier said than done, but today’s guest has the experience and actionable tips to help you do it. Tom Bradley, president and co-founder of Steadyhand Investment Funds, joins the podcast today to tell us how his firm differentiates itself among other investment management firms by committing to radical transparency and always working in the best interest of the client. In addition to being President and Co-founder, Tom is a director and shareholder of the firm. He holds a Bachelor of Commerce degree from the University of Manitoba and an MBA from the Richard Ivey School of Business. Prior to founding Steadyhand, Tom worked first as an equity analyst at Richardson Greenshields, then at Phillips, Hager & North as a research analyst and institutional portfolio manager. While at Phillips, Hager & North, Tom eventually became the COO and later president and CEO before resigning in 2005. All told, he has more than 30 years of experience i

More education can give you more prestige as a financial advisor, but even more importantly, it gives you the knowledge and skills to better meet your clients’ needs. But what’s the best way to gain these skills? When is the right time to pursue additional designations? And how will the recently announced changes to designations affect your education opportunities? Today’s guest can help you answer all of these questions. Jason Watt is the CEO and a full-time instructor at Business Career College, delivering web-based training to students across Canada who are in pursuit of their certifications. Jason has been at Business Career College since 2006 after 14 years serving in the Canadian Armed Forces. He also spends time providing pro bono financial planning services to disadvantaged populations. In today’s episode, you’ll hear what Jason has to say about the cost and time investments you’ll need to make to earn a CFP designation, how you can get more from your continuing edu

The comprehensive services offered by family offices have traditionally only been available to high-net-worth individuals. But today’s guest, Marc Lamontagne, was determined to offer full-service fee-based financial planning to the emerging affluent ‒ folks who may not be millionaires yet but who have some investable assets built up. In this episode, you’ll hear how he built an accessible yet profitable family office practice into Ottawa's largest fee-based financial planning firm. Marc is a founding partner of Ryan Lamontagne Inc. He specializes in comprehensive financial planning, investment counseling, and tax planning. Marc has also delivered numerous seminars and workshops across Canada. He’s a recognized expert in the field and has appeared in publications such as the Globe & Mail, the Financial Post, CBC, Ottawa Citizen, Toronto Star, CTV Morning Live, and MoneySense magazine. Listen in to hear why he wanted to offer a comprehensive financial planning service that even includes ta

Because many people mistakenly believe their money is safer with big banks than with independent financial planners, it’s important to show clients the benefits of a more personal touch. Today’s guests had a vision for differentiating themselves from bank-owned financial advisory firms. They saw a conflict of interest in a profit-obsessed industry and set about creating a practice that would remove that conflict and center the client experience. Chris Rawles and Spencer Tilley are co-founders of RT Mosaic. Chris is a CFP, RFP and CIM and has 15 years of experience in the industry. In 2018, he was named a finalist for the "Multi-Service Advisor of the Year" award through Wealth Professional. Spencer, a CFP, RFP and CFA, has extensive experience in the areas of retirement analysis, tax minimization and corporate planning. Together, Chris and Spencer strive to provide their clients with an unbiased wealth management experience. Listen to the episode to hear how they show clients the benefits that ind

When an individual seeks out financial advice, they want to know that their planner has more than just the expertise needed to help them with the numbers. They also want to know that they can be fully understood without being judged and that their advisor walks the talk and knows what it’s like to track and manage cash flow. Today’s guest understands that desire and believes in practicing what she preaches to her clients. Diane Dekanic is a professional fee-only financial planner who’s been in the business for twenty-five years. Diane is the president of Financial Health Management Inc. and has extensive experience dealing with clients in a range of financial circumstances, including expatriates and clients who have been downsized or are retiring. She’s also provided more than 8,000 workshops to date. What You’ll Learn in This Episode: What Diane’s financial planning process looks like for her clients ‒ and why it may not include a follow-up (5:40) The importance of helpi