David Little of Little Wealth Management Group HollisWealth, Industrial Alliance Securities part of this year's Wealth Professional Canada's Hall of Fame
Little Wealth Management Group
HollisWealth, Industrial Alliance Securities
Years as an advisor: 33
The recipient of the Lifetime Achievement Award at the 2017 Wealth Professional Awards, David Little came into the business when his dream of an NHL career went unfulfilled. He instead channelled his energy into education, obtaining an economics degree at Queen’s University before making his start in the advisory business in 1984. There have been some bumps in the road since then, but his dedication to the job has never wavered.
“Failure or quitting was never in the cards, despite many challenging situations,” he says. “The embezzlement of commissions – scoundrels who forged my signature and cashed my cheques – left my wife and I in a very challenging financial
situation. I persevered and never gave up.”
While Little holds the profession of wealth management in high regard and believes the vast majority of his peers have impeccable personal ethics and dedication to their clients, he acknowledges this isn’t a narrative one might glean from reading a major newspaper.
“I know some media outlets and government agencies have a dim view of financial advisors,” he says. “My understanding of their position is that advisors make far too much money for what they do. Unfortunately, I am not sure either one of these groups has a clue about the day-to-day functioning inside a financial advisory firm and what advisors do for their clients. I know in my own practice, we survey our clients regularly, and our findings confirm that our clients have confidence in our services.”
While there aren’t many advisors who speak about regulation in glowing terms, Little is willing to admit that the increased compliance headaches have had a positive impact. “Let’s face it – we’re all much better at our jobs, given the regulators’ scrutiny to be better,” he says. “Compliance has never been more complex, and that makes us better at our jobs, along with the simple fact that we’re mostly seasoned veterans who truly have a passion for doing what is best for our clients.”
