6 Faisal Karmali, Popowich Karmali Advisory Group

Faisal Karmali of Popowich Karmali Advisory Group is rank 6 in Wealth Professional Canada's 2018 Top 50 Advisors

6 Faisal Karmali, Popowich Karmali Advisory Group
Popowich Karmali Advisory Group
CIBC Wood Gundy

Calgary, AB

Celebrating a decade in the advisory business this year, Faisal Karmali marks the occasion with his first appearance on Wealth Professional Canada’s Top 50 Advisor list. The fact that he’s making his debut in sixth place – after accumulating assets of $450 million – is even more impressive. Serving 464 clients, Karmali has shifted his business to a fully discretionary model, which has proven popular with the families he provides financial advice to in Calgary. “Clients want to understand the products,” he says, “and they want to know how and why an investment fits into the big picture for them.”

It’s a challenging role, but one that still brings him a great deal of pleasure. In particular, Karmali enjoys the ability to really make a difference in people’s lives, particularly when it comes to their golden years. “The best part of my job is helping clients ensure that their lifestyle never retires,” he says. “It is working with my clients on four main areas of growth, income, health and legacy, while incorporating a tax-minimizing strategy.”

In that respect, he believes the role of a financial advisor has evolved so that it’s less about investment products and more about proper financial planning. “The product for the client is not the first conversation,” he says. “In fact, in my practice, it comes down at the bottom of the list.”