What's behind the Wealthbuilding Group's success?

5-star advisor shares what sets his practice apart from competitors

What's behind the Wealthbuilding Group's success?

With a long history in the industry and a solid book of satisfied clients, Dan Noonan, an investment advisor at The Wealthbuilding Group with Harbourfront Wealth Management, has established himself as one of Wealth Professional’s 5-Star Advisors for 2021.

In an interview recognizing his achievement, Noonan shared his "secret sauce" and the primary factors driving his practice's expansion.

One thing that sets the Wealthbuilding Group apart from competitors, he said, is their openness to talk about taxes. “Banks will suggest to you that you do not talk about taxes. Yet taxes are one of the most important things for most Canadians,” he told Wealth Professional.

As part of that service, Wealthbuilding Group offers clients a comprehensive, tax-sensitive financial plan, which many banks do not want to get involved with. He also highlighted the firm’s pension-style model of asset allocation, which goes beyond stocks and bonds to include exposures to private real estate, private debt, and private equity.

When asked about his practice’s success, Noonan puts it down to their commitment to increasing client knowledge, along with an adherence to some basic principles. That includes the “magic of compounding,” which relies heavily on the exponential effect of time.

“Something early is much more important than lots later on,” he explained.

The Wealthbuilding Group also believes in the principle of reversion to the mean, which dictates most asset classes have a certain rate of return that can be expected over a five or ten-year period.

“If you’re getting above or below that, you’re probably borrowing from future returns, or making up for returns that didn’t exist in the past,” he said.

Consistent emails to clients, Noonan added, offers them a touchpoint to communicate back to the company.

“We’ve had so much change,” he said, reflecting on the past 20 years of his career. “And definitely we have a belief that when the facts change, we change.”

To view Wealth Professional’s full video interview with Dan Noonan, click here.