We are excited to announce that all three of the advisors on our team - Michael Holden, Rob Parrish and Andrew Chowne - have been elevated to the status of Portfolio Manager, the highest level of industry accreditation for an Investment Advisor in Canada.
Fewer than 3% of Canadian financial advisors have attained the proficiency requirements to become a Portfolio Manager, and for good reason. Applicants must meet or exceed education and work experience hurdles. We also needed to submit full documentation - a business plan, the proposed security selection process, our investment philosophy, benchmarks, a sample Investment Policy Statement (IPS) and our service model - to a review committee of senior managers. The whole process is rigorous and well beyond the industry norm.
We believe upgrading to this new platform is the most significant improvement we have made to our business in the past 20 years.
Being Portfolio Managers allows us to employ a discretionary approach to managing investments, meaning that if we need to change an investment in our client portfolios, we can now adjust all discretionary accounts on the same day. In the past, we had to contact each client directly in order to attain the required authorization for the change. Our new designation enables us to be more proactive and nimbler. It also offers our clients a wider range of investment choices.
Our investment philosophy has not changed – this is simply a better way to manage money.
Of course, we do more than managing your investment portfolios. We spend a significant amount of time ascertaining your priorities; helping you to incorporate insurance to protect your families; making the most of your mortgage options; accumulating for your children's education; reducing your tax bill; coordinating your retirement income; and exploring estate planning issues for you and your extended family. Now that we can make portfolio adjustments faster, we have more time to spend on those other aspects of our practice to create even more value for our clients.
But at the end of the day, you want your portfolios to go up in value - and you want to have some downside protection in these uncertain times. Our new discretionary platform will give us significantly better options for achieving this!
We look forward to meeting with you to outline the benefits in more detail and address your questions. We are very excited about the direction our business is heading and we believe you will be as well!