Growing Your Financial Advisory Practice | Insights for Financial Advisors, Planners and Investment Managers

Eight years ago, it would have been nearly impossible to imagine the incredible impact fintech would have on the financial services industry today. And even now, we’re just scratching the surface of what this industry can become in the future. 

In a change of pace, today’s episode is an introduction to one of our favourite podcasts: Fintech Impact. You’ll hear host Jason Pereira interview Tea Nicola, CEO of Wealthbar, and our own Pawel Brzeminski, CEO of Snap Projections.

The Fintech Impact Podcast is hosted by Jason Pereira who explores the fintech space and interviews its major players — both incumbents and newcomers. Whether they’re trying to make existing finance players more efficient or looking to disrupt the industry altogether, this show explores their impact on consumers and the industry as a whole.

Listen in to hear about Wealthbar’s acquisition of Snap Projections, what that relationship will look like going forward, and Tea and Pawel’s shared vision for how fintech can impact the industry — and the lives of average Canadians.

What You’ll Learn in This Episode:

• Why a partnership between Wealthbar and Snap Projections makes sense (2:05)
• What the end product looks like for both clients and advisors (6:30)
• Pawel’s product-building philosophy (16:40)
• Revealing Tea and Pawel’s wishes for their industry (23:00)
• The biggest challenges Tea and Pawel have faced in scaling their companies (27:05)
• What gets these founders out of bed every morning (30:55)

Links and Resources:

Wealthbar

Tea Nicola

Snap Projections

Pawel Brzeminski

Fintech Impact

Jason Pereira

 Quotes from the Episode:

“It just made sense to basically own software that is going to eventually become what I want to see, which is a vision for a full practice management platform for an independent financial advisor.” — Tea Nicola 

“This is technology that’s gonna enable you, not threaten you.” — Jason Pereira

“In a lot of cases, it actually takes an advisor to make adjustments. I don’t think we can really have a fully automated tool that can provide the best solution for every single case.” — Pawel Brzeminski

With their shared goal of transforming the financial services industry in Canada and making the lives of both advisors and consumers easier, Tea and Pawel’s recent partnership i

Eight years ago, it would have been nearly impossible to imagine the incredible impact fintech would have on the financial services industry today. And even now, we’re just scratching the surface of what this industry can become in the future. 

In a change of pace, today’s episode is an introduction to one of our favourite podcasts: Fintech Impact. You’ll hear host Jason Pereira interview Tea Nicola, CEO of Wealthbar, and our own Pawel Brzeminski, CEO of Snap Projections.

The Fintech Impact Podcast is hosted by Jason Pereira who explores the fintech space and interviews its major players — both incumbents and newcomers. Whether they’re trying to make existing finance players more efficient or looking to disrupt the industry altogether, this show explores their impact on consumers and the industry as a whole.

Listen in to hear about Wealthbar’s acquisition of Snap Projections, what that relationship will look like going forward, and Tea and Pawel’s shared vision for how fintech can impact the industry — and the lives of average Canadians.

What You’ll Learn in This Episode:

• Why a partnership between Wealthbar and Snap Projections makes sense (2:05)
• What the end product looks like for both clients and advisors (6:30)
• Pawel’s product-building philosophy (16:40)
• Revealing Tea and Pawel’s wishes for their industry (23:00)
• The biggest challenges Tea and Pawel have faced in scaling their companies (27:05)
• What gets these founders out of bed every morning (30:55)

Links and Resources:

Wealthbar

Tea Nicola

Snap Projections

Pawel Brzeminski

Fintech Impact

Jason Pereira

 Quotes from the Episode:

“It just made sense to basically own software that is going to eventually become what I want to see, which is a vision for a full practice management platform for an independent financial advisor.” — Tea Nicola 

“This is technology that’s gonna enable you, not threaten you.” — Jason Pereira

“In a lot of cases, it actually takes an advisor to make adjustments. I don’t think we can really have a fully automated tool that can provide the best solution for every single case.” — Pawel Brzeminski

With their shared goal of transforming the financial services industry in Canada and making the lives of both advisors and consumers easier, Tea and Pawel’s recent partnership i

It’s one thing for the general public to misunderstand what financial advisors do or be mistaken about important principles of personal finance. But what about financial advisors? What myths and misconceptions do you believe that might be holding you back from giving your clients the best advice? That’s what today’s guest is here to talk about.

John De Goey is a Portfolio Manager with Wellington-Altus Private Wealth. He has built a national reputation as a trusted authority on professional, transparent and evidence-based financial advice. He’s written for publications including Canadian MoneySaver, MoneySense and The Globe and Mail, and appeared on television programs like CBC’s MarketPlace, News World and BNN’s Market Call. He’s the author of The Professional Financial Advisor, now in its fourth edition, and STANDUP to the Financial Services Industry, released last year.

In today’s episode, he’ll discuss misconceptions commonly held by financial advisors, why advisors might hold these misconceptions, and what you should believe instead. Listen in to hear more about John’s work, research and advice for advisors and investors.

What You’ll Learn in This Episode:

• The unglamorous yet insightful reason behind John becoming an advisor (3:35)
• Common myths and misconceptions in financial advising (5:00)
• What advisors get wrong about cost (9:15)
• Why advisors ignore the evidence and recommend activities that don’t add value (18:20)
• The key beliefs advisors should focus on improving (26:35)
• Why investors will need to be part of the solution (21:55)
• Why the reason for advisors’ beliefs isn’t the most important question to explore (38:20) 

Links and Resources: 

Standup Advisors

STANDUP to the Financial Services Industry: Protecting Yourself From Well-Intended But Oblivious Advisors

Email John

Quotes by John De Goey:

“There are a lot of advisors that should be part of the solution, want to be part of the solution, but the really ugly secret that a lot of people in the industry don’t want to come to terms with is that there are many advisors that are themselves part of the problem.” 

“Any advisor who is worth his or her salt would do very well to understand that where the rubber hits the road is in the behaviour that they help to enforce or disabuse their clients of.&rdq

It’s one thing for the general public to misunderstand what financial advisors do or be mistaken about important principles of personal finance. But what about financial advisors? What myths and misconceptions do you believe that might be holding you back from giving your clients the best advice? That’s what today’s guest is here to talk about.

John De Goey is a Portfolio Manager with Wellington-Altus Private Wealth. He has built a national reputation as a trusted authority on professional, transparent and evidence-based financial advice. He’s written for publications including Canadian MoneySaver, MoneySense and The Globe and Mail, and appeared on television programs like CBC’s MarketPlace, News World and BNN’s Market Call. He’s the author of The Professional Financial Advisor, now in its fourth edition, and STANDUP to the Financial Services Industry, released last year.

In today’s episode, he’ll discuss misconceptions commonly held by financial advisors, why advisors might hold these misconceptions, and what you should believe instead. Listen in to hear more about John’s work, research and advice for advisors and investors.

What You’ll Learn in This Episode:

• The unglamorous yet insightful reason behind John becoming an advisor (3:35)
• Common myths and misconceptions in financial advising (5:00)
• What advisors get wrong about cost (9:15)
• Why advisors ignore the evidence and recommend activities that don’t add value (18:20)
• The key beliefs advisors should focus on improving (26:35)
• Why investors will need to be part of the solution (21:55)
• Why the reason for advisors’ beliefs isn’t the most important question to explore (38:20) 

Links and Resources: 

Standup Advisors

STANDUP to the Financial Services Industry: Protecting Yourself From Well-Intended But Oblivious Advisors

Email John

Quotes by John De Goey:

“There are a lot of advisors that should be part of the solution, want to be part of the solution, but the really ugly secret that a lot of people in the industry don’t want to come to terms with is that there are many advisors that are themselves part of the problem.” 

“Any advisor who is worth his or her salt would do very well to understand that where the rubber hits the road is in the behaviour that they help to enforce or disabuse their clients of.&rdq

What unique financial planning challenges do individuals face when they live full- or part-time in the US but have Canadian citizenship (or vice versa?) How can you help clients who straddle two countries? And more to the point – should you always be the one to help them? Today’s guest is diving in deep to help you understand the pertinent issues around cross-border financial advising.

Terry Ritchie is a Partner and Director of Cross-Border Wealth Services for Cardinal Point, with offices in Toronto, Calgary, Irvine, Phoenix, and Boca Raton. He is a Registered Financial Planner in Canada and is enrolled to practice before the U.S. Internal Revenue Service as an Enrolled Agent. Terry is also a Trust and Estate Practitioner affiliated with the Society of Trust and Estate Practitioners. He has been practicing cross-border financial, investment, tax and estate planning for more than 30 years. 

What You’ll Learn in This Episode: 

• What actually drives people to move between Canada and the United States (6:45)
• Why cross-border work matters to Terry (10:10)
• What advisors need to know about visas and green cards (13:40)
• Important elements of U.S. income tax (23:50)
• Investment limitations of Canadians in the US (28:10)
• How cross-border living affects estate planning (37:10)
• The biggest cross-border planning mistake you can make (43:45)
• Terry’s #1 tip for growing a career you really love (53:20)

 Links and Resources: 

Cardinal Point

Email Terry

Quotes by Terry Ritchie: 

“I can quantify the numbers that you might be better off from a tax perspective in that jurisdiction or country versus this one. But really at the end of the day, it’s truly around lifestyle. Where are they going to be happiest?”

“It’s just the nature of the business. Markets go up and down... Tax laws change. Family dynamics change.”

“Advisors have a right to say no,” he says. “There has to be a fit – on both sides.”

Terry’s firm, Cardinal Point, offers a total solution to individuals who have Canadian and American financial matters – snowbirds, those who have dependants in one country while living in the other, and those who move between the two countries. And as someone who has financial matters in both countries himself, he has unique insights into what it takes to plan for people like him.

Below, we’re sharing three key ideas from this episode:

• What actually drives peo

What unique financial planning challenges do individuals face when they live full- or part-time in the US but have Canadian citizenship (or vice versa?) How can you help clients who straddle two countries? And more to the point – should you always be the one to help them? Today’s guest is diving in deep to help you understand the pertinent issues around cross-border financial advising.

Terry Ritchie is a Partner and Director of Cross-Border Wealth Services for Cardinal Point, with offices in Toronto, Calgary, Irvine, Phoenix, and Boca Raton. He is a Registered Financial Planner in Canada and is enrolled to practice before the U.S. Internal Revenue Service as an Enrolled Agent. Terry is also a Trust and Estate Practitioner affiliated with the Society of Trust and Estate Practitioners. He has been practicing cross-border financial, investment, tax and estate planning for more than 30 years. 

What You’ll Learn in This Episode: 

• What actually drives people to move between Canada and the United States (6:45)
• Why cross-border work matters to Terry (10:10)
• What advisors need to know about visas and green cards (13:40)
• Important elements of U.S. income tax (23:50)
• Investment limitations of Canadians in the US (28:10)
• How cross-border living affects estate planning (37:10)
• The biggest cross-border planning mistake you can make (43:45)
• Terry’s #1 tip for growing a career you really love (53:20)

 Links and Resources: 

Cardinal Point

Email Terry

Quotes by Terry Ritchie: 

“I can quantify the numbers that you might be better off from a tax perspective in that jurisdiction or country versus this one. But really at the end of the day, it’s truly around lifestyle. Where are they going to be happiest?”

“It’s just the nature of the business. Markets go up and down... Tax laws change. Family dynamics change.”

“Advisors have a right to say no,” he says. “There has to be a fit – on both sides.”

Terry’s firm, Cardinal Point, offers a total solution to individuals who have Canadian and American financial matters – snowbirds, those who have dependants in one country while living in the other, and those who move between the two countries. And as someone who has financial matters in both countries himself, he has unique insights into what it takes to plan for people like him.

Below, we’re sharing three key ideas from this episode:

• What actually drives peo

It’s one thing to build up your own practice. But as we approach the end of the year, we’re taking a step back to look at what it takes to build an entire profession. Today’s guest is here to show us what the financial planning industry can become at its best.

Jason Pereira is a Senior Financial Consultant with Woodgate Financial Inc and IPC Securities Corp. He is one of Canada's most respected authorities on financial planning, the financial industry, and financial technology. He’s been awarded 7 industry designations including the CFA, CFP, and RFP. He has won and been named a finalist for several industry awards, and he is the only 3-time winner of the PlanPlus Global Financial Planning Awards. 

Jason is also the leader of a growing group of financial advisors seeking to improve financial planning, both for advisors and consumers. As the president of the newly launched Financial Planning Association of Canada (FPAC), he’s here to talk about his hopes for the future of financial planning in this country.

What You’ll Learn in This Episode: 

• Why FPAC exists and what its goals are (2:40)
• Why FPAC needed to be a new organization in order to reach its goals (10:30)
• How FPAC will benefit the public (15:30)
• How FPAC plans on handling enforcement (17:05)
• The benefits of FPAC membership to advisors (21:40)
• What types of memberships are available (27:05)
• What the reception for FPAC has been like in the industry (29:45) 

Links and Resources:

Financial Planning Association of Canada

FPCA Charter

Email Jason

Woodgate Financial Inc

 Quotes by Jason Pereira: 

“This is a coming together of like-minded individuals who want to see the professionalization of planning in Canada, and to basically move this industry and this country forward.”

“We’re trying to create the member body that basically is going to push for active change.”

“We’re not going to be able to build the industry up if we don’t provide the resources to do that.”

You might remember Jason from an earlier episode of the show (and if you didn’t, do take the time to hear his advice for competing – and winning – in the Canadian HNW segment). However, today’s show is a little different as we’ll be hearing from Jason about his passion project of transforming f

It’s one thing to build up your own practice. But as we approach the end of the year, we’re taking a step back to look at what it takes to build an entire profession. Today’s guest is here to show us what the financial planning industry can become at its best.

Jason Pereira is a Senior Financial Consultant with Woodgate Financial Inc and IPC Securities Corp. He is one of Canada's most respected authorities on financial planning, the financial industry, and financial technology. He’s been awarded 7 industry designations including the CFA, CFP, and RFP. He has won and been named a finalist for several industry awards, and he is the only 3-time winner of the PlanPlus Global Financial Planning Awards. 

Jason is also the leader of a growing group of financial advisors seeking to improve financial planning, both for advisors and consumers. As the president of the newly launched Financial Planning Association of Canada (FPAC), he’s here to talk about his hopes for the future of financial planning in this country.

What You’ll Learn in This Episode: 

• Why FPAC exists and what its goals are (2:40)
• Why FPAC needed to be a new organization in order to reach its goals (10:30)
• How FPAC will benefit the public (15:30)
• How FPAC plans on handling enforcement (17:05)
• The benefits of FPAC membership to advisors (21:40)
• What types of memberships are available (27:05)
• What the reception for FPAC has been like in the industry (29:45) 

Links and Resources:

Financial Planning Association of Canada

FPCA Charter

Email Jason

Woodgate Financial Inc

 Quotes by Jason Pereira: 

“This is a coming together of like-minded individuals who want to see the professionalization of planning in Canada, and to basically move this industry and this country forward.”

“We’re trying to create the member body that basically is going to push for active change.”

“We’re not going to be able to build the industry up if we don’t provide the resources to do that.”

You might remember Jason from an earlier episode of the show (and if you didn’t, do take the time to hear his advice for competing – and winning – in the Canadian HNW segment). However, today’s show is a little different as we’ll be hearing from Jason about his passion project of transforming f

Family businesses inevitably come with complex scenarios for a financial advisor to sort through. But the biggest complications may not be what you expect: the emotional aspect of family, business, and money is often the foremost concern when beginning conversations around business transitions. Today’s guest brings a rock-solid technical background and soft skills that helps her see the full picture and help families navigate the wealth transition landscape.

Cindy Radu is a family wealth transition advisor. She works with individuals, family enterprises, business owners and family offices to maneuver the complexities and opportunities of multi-generational wealth. Cindy has over 25 years of legal, fiduciary, trust and governance experience, giving her a bird’s eye view of the many issues families can face.

Listen to the episode to hear how Cindy frames wealth, family enterprise, and success in a way that helps her clients handle the complicated financial and emotional factors involved in transitioning family wealth.

What You’ll Learn in This Episode: 

• Rethinking the key issues around transitioning wealth and family businesses in Canada (8:05)
• The difference between a family business and a family enterprise – and why it matters (11:10)
• Cindy’s first steps when advising clients (18:45)
• How Cindy bridges critical gaps by working effectively with other advisors (25:25)
• Helping families avoid assumptions and get on the same page (33:40)
• What wealth and wealth management really mean (39:30) 

Links and Resources: 

Cindy Radu

Cindy on LinkedIn

Email Cindy

Quotes by Cindy Radu:

“Way too many families are willing to stake everything they work so hard for on basically a hope and a prayer that everything is going to turn out alright.”

“Referrals from clients are frankly the strongest possible referrals that you can get.”

“I’ve been successful in my practice because I’m able to bridge those emotional and technical aspects of the wealth planning and transition.”

Cindy has been a Chartered Accountant and estate planning lawyer, and she’s also worked with large financial institutions. And yet all of her work has had one common goal: helping families through transitions. Today, she shares her experience to reframe the conversation around family wealth transitions.

Below, we’re sharing three key ideas from this episode:

• Rethinking the key issues around transitioning wealth and family businesses in Canada
• The difference between a family business and a family enterprise – and why it matters
• What wealth an

Family businesses inevitably come with complex scenarios for a financial advisor to sort through. But the biggest complications may not be what you expect: the emotional aspect of family, business, and money is often the foremost concern when beginning conversations around business transitions. Today’s guest brings a rock-solid technical background and soft skills that helps her see the full picture and help families navigate the wealth transition landscape.

Cindy Radu is a family wealth transition advisor. She works with individuals, family enterprises, business owners and family offices to maneuver the complexities and opportunities of multi-generational wealth. Cindy has over 25 years of legal, fiduciary, trust and governance experience, giving her a bird’s eye view of the many issues families can face.

Listen to the episode to hear how Cindy frames wealth, family enterprise, and success in a way that helps her clients handle the complicated financial and emotional factors involved in transitioning family wealth.

What You’ll Learn in This Episode: 

• Rethinking the key issues around transitioning wealth and family businesses in Canada (8:05)
• The difference between a family business and a family enterprise – and why it matters (11:10)
• Cindy’s first steps when advising clients (18:45)
• How Cindy bridges critical gaps by working effectively with other advisors (25:25)
• Helping families avoid assumptions and get on the same page (33:40)
• What wealth and wealth management really mean (39:30) 

Links and Resources: 

Cindy Radu

Cindy on LinkedIn

Email Cindy

Quotes by Cindy Radu:

“Way too many families are willing to stake everything they work so hard for on basically a hope and a prayer that everything is going to turn out alright.”

“Referrals from clients are frankly the strongest possible referrals that you can get.”

“I’ve been successful in my practice because I’m able to bridge those emotional and technical aspects of the wealth planning and transition.”

Cindy has been a Chartered Accountant and estate planning lawyer, and she’s also worked with large financial institutions. And yet all of her work has had one common goal: helping families through transitions. Today, she shares her experience to reframe the conversation around family wealth transitions.

Below, we’re sharing three key ideas from this episode:

• Rethinking the key issues around transitioning wealth and family businesses in Canada
• The difference between a family business and a family enterprise – and why it matters
• What wealth an