The future for advisors

The future for advisors

The future for advisors by Nicolas Heffernan

The portfolio manager designation is taking the industry by storm.

“I know it’s the future for IIROC advisors in my mind,” said Rob Tetrault from Rob Tetrault Wealth Management Group. “I think it’s a must and it has absolutely taken my practice to another level in terms of efficiency, performance and respect that has garnered me some growth and some new clients. The PM designation really helped out my practice a lot.”

The designation has really started to gain traction over the last few years as advisors realize the potential boost it can give their business.

“I got my designation three years ago,” said Tetrault. “I was one of the few in our branch here and one of the significant minority in Winnipeg. Just in our branch we’ve seen another half dozen or so get their designation in the past year or so and across Manitoba we’re seeing a lot more PMs. It’s becoming much more prevalent.”

It’s easy to see why. The education requirements behind it – advisors need to already have the CFA or CIM – as well as the flexibility and efficiency it offers an advisor almost make it a no brainer to get – especially in the post CRM2 world.

“Aside from being recognized as leader in our field because we’re PMs, it also allows you to simplify and be way more efficient in your practice because you can now trade on a discretionary basis,” says Tetrault. “Discretionary manager can be a lot more efficient and it’s allowed us to increase our performance because you get to act a lot more quickly.”

Tetrault won the Blackrock award for Portfolio/Discretionary Manager of the Year at last year’s WP Awards.

“It was very humbling,” he said. “I was blown away. “We’ve always known we’ve done right by clients in terms of performance and service but to have one of the leaders in our field recognize me as such, it’s quite rewarding and it makes all our efforts worthwhile,” said Tetrault. “I used it in some marketing campaigns. It’s made the rounds with my clients. It increased my referrals and it was certainly very positive.”

Advisors will have their chance to be recognized for their work as a Portfolio/Discretionary Manger as well as across 18 different categories on June 2nd at the 2016 WP Awards at the Liberty Grand in Toronto.

"We are thrilled to have the opportunity to once again celebrate the exceptional individuals in our industry,” said Warren Collier, Head of iShares, BlackRock Canada. “In a time of increased market volatility, with the Portfolio/Discretionary Manager of the Year award, we wanted to recognize the outstanding efforts of an individual who has gone above and beyond, and delivered results, exceptional service to their clients, and distinguished themselves from the pack."