Aaron Arnold of Luft Financial is part of the Wealth Professional Canada Young Guns 2017.
Investment advisor
LUFT FINANCIAL (HOLLISWEALTH)
Age: 33
Years in the industry: 10
Marking a decade in the wealth management business this year, Aaron Arnold has witnessed a lot of change across the industry in that time. His firm, HollisWealth, is currently in the process of being acquired by iA Financial Group; such deals are becoming the norm for independent firms. The shift to a fee-based model is another trend, and Arnold believes advisors who prefer the commission model have a harsh adjustment period ahead of them.
“I think we will continue to see consolidation amongst smaller independent dealers in the short term, which will eventually lead to new dealers opening up,” he says. “Embedded commissions will be a thing of the past, and more advisors will transition to discretionary portfolio management. I think we will see a reduction in fees across investment products, which will benefit the investor.”
