WELCOME BACK to the country’s most comprehensive ranking of financial advisors in Canada. For the third year running, Wealth Professional has crunched the numbers to come up with an exhaustive list of the best-performing advisors in the country.
WP launched a survey two months ago, asking advisors to submit basic data about their businesses. The competition was stiffer than ever, as hundreds of submissions came through – and high-quality submissions, at that. We spent six weeks verifying all the data submitted to come up with this year’s list.
WP’s unique formula opts for a scien-tific approach and is what sets this list apart from other rankings of industry players. We went beyond AUM alone and relied instead on several key metrics of an advisor’s performance and success. Our weighted formula takes into account a slew of variables, from growth in book size and AUM per client to account retention and the addition of new clients. The end result is a list that pinpoints some of the strongest advisors working today’s increasingly complex and shifting landscape.
This year, advisors will be striving more than ever to show their value. CRM2 will take full hold in July, and advisors around the country have been preparing for its implica-tions. Demonstrating worth by going above and beyond is the new reality for advisors looking to thrive. The advisors who made this list have all successfully transitioned their businesses and are flourishing now.
And it’s interesting to note that the vast majority of advisors on this list operate under a fee-based model. As the debate continues to rage around embedded commissions versus fees, it appears many top advisors have decided that the fee model is best suited to the new regulatory environment.
On top of the obvious regulatory issues, turbulent markets also made 2015 difficult for advisors, who had to focus on protecting wealth as well as walking clients through a traumatic period. Other challenges that forced advisors to change and adapt included the rise of robo-advisors; the growth of ETFs; the opening of exempt markets, especially in Ontario; home-country bias; the state of interest rates and the search for yield; China; and the dollar.
This list represents those advisors who successfully navigated their way around these challenges. Congratulations to every advisor included.
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