Through next-level planning, technological adaptation, and personalized advice, these teams have elevated themselves as they meet clients’ needs
With market developments, industry pressures, and evolving client expectations coming in all at once, the landscape of financial advice has certainly been tough to navigate. But for Wealth Professional’s 5-Star Advisory Teams for 2022, those challenges have been opportunities to evolve and grow.
In selecting this year’s crop of 5-Star Advisory Teams, Wealth Professional sought nominations of teams composed of at least three advisors from across Canada. The process looked for teams that meaningfully contributed to their clients through differentiated service offerings and enhanced value propositions.
Out of 45 winning teams, Wealth Professional put a particular focus on two:
Among the hallmarks that set this year’s teams apart is a focus on personalization. Rather than trying to be everything to everyone, they offer dedicated services and shape their business models to address the needs of their own specific book of clients.
“It's important for you as an advisor to understand who your ideal client is so you're able to service that client, versus trying to meld your practice around every potential client that comes in your door,” says Robyn Thompson, President of Castlemark Wealth Management, who shared her thoughts for the full report.
Technological innovation has also played a key role. While communication with clients has been particular point of focus, Canada’s leading teams leave no stone unturned, leveraging digital transformation to raise their productivity where they can.
“Our team has developed proprietary programs to increase our operational efficacy and let us spend more time in front of our clients,” says Nigel Seth, Senior Associate Wealth Advisor at the Schmidt Investment Group, CIBC Wood Gundy. “Using these programs to interactively engage with clients – when doing retirement cash flow projections as an example – has proved invaluable with our clients as it has allowed them to talk through and visually see how decisions being made now will affect their retirement outcome.”
To view Wealth Professional’s full report on the 5-Star Advisory Teams 2022, including a list of this year’s 45 winners, click here.