Thinking generously nabs advisors the high-net-worth client

Thinking generously nabs advisors the high-net-worth client

Thinking generously nabs advisors the high-net-worth client One advisor’s unique business model gives his wealth management firm a solid foundation for growth.

“Most who are financially comfortable are well aware of those who aren’t so fortunate,” says Mark Van Mourick, CEO of Optivest Wealth Management. “Through the Optivest Foundation, we do our best to make as much of an impact as we can for these people.”

Philanthropic advisors aren’t necessarily unusual but this particular firm just might be, donating 10% of top-line revenue to its foundation. Since 2007, the foundation’s disbursed over US$2.5 million to a variety of causes around the world including a malaria clinic in Indonesia, homes in Mexico, the teaching of business skills to vulnerable Rwandan women and many other important causes.

“In my working experience, where I have been exposed to thousands of financial advisors, I have not seen a model like this,” says Amy Parvaneh, a California-based wealth management consultant who helps investors’ select financial advisors. “In an industry focused almost completely on asset gathering and performance, what they are doing is very unique.”

Van Mourick, who’s been an advisor for 36 years, believes that the work it does through its foundation provides the wealth management business with insights into philanthropy that can’t be gleaned from a how-to-manual. As a result it’s able to provide clients with the maximum benefit when it comes to their own planned giving including the mitigation of tax.

Closer to home, Kirk Brugger runs Brugger Wealth Management in Brandon, Manitoba. Recently, Brugger spoke with WP about winning The Dundee Goodman Private Wealth Award for Best Community Service Effort of the Year at the inaugural Wealth Professional Awards held June 5.

Philanthropy, as the award suggests, is a key part of Brugger’s philosophy in business and in life.

“I do a lot of charitable giving. I’ve always told the kids there’s only so much you need and beyond that go out and make a difference in other people’s lives,” says Brugger. “I’ve noticed over the years that philanthropy is really starting to grow in our industry.”