With over a decade in the industry, 5-Star Wholesaler says adaptability has been a vital tool
Andrew D'Iorio takes pride in his position as the district vice president of Manulife Investment Management in Montreal, Quebec. He's worked for the company for about 12 years, which amounts to roughly the whole of his professional career after earning a management bachelor's degree from Concordia University.
“The foundation of our business is being adaptable to different environments. Every year is different,” D’lorio, one of Wealth Professional’s 5-Star Wholesalers for 2022, said in an interview. “2021 was more challenging because of the absence of face-to-face meetings.”
According to D’Iorio, he and his team have been able to keep supporting their advisor clients at the same level by embracing the use of digital communication technology. They also unlocked greater flexibility and efficiency in organizing meetings using several real-time video and audio chat platforms, which, according to him, has led to unprecedented flexibility and effectiveness – but also greater expectations of accessibility.
“There has been a higher level of contacts across the spectrum. The volume of contacts that the investment advisors receive from the investment community has increased substantially,” he said. “Advisors needed to manage multiple priorities in their day-to-day work, and the investor’s appetite for information has increased as well during the pandemic.”
The landscape of investment products has also changed due to the changing regulatory climate, forcing advisors to discover ways to streamline their operations while maintaining efficiency. Even as many advisory firms work to simplify and downsize their selection of investment product options, asset managers and fund companies are launching new products whose complexity is increasing to answer new market needs.
“The ongoing pressure on fees and demand for sustainable investments are also transforming the industry,” D'Iorio said. “This has pushed us to become product and subject matter specialists for advisors to help them navigate this new investment environment.”
To see WP’s full profile coverage with Andrew D’Iorio, click here.