Financial advisors with Canada’s dealer firms have seen their books and assets swell. Why, then, do they say they are not reaping the benefits? From the June 2013 issue of Investment Executive newspaper.June 2, 2013
Steven Donald, president of Assante Wealth Management (Canada) Ltd., talks about the strategic changes that fueled Assante’s improvement in 32 out of 34 categories in the 2013 Dealers’ Report Card. He spoke with Clare O’Hara, staff reporter with Investment Executive, at the TMX Broadcast Centre in Toronto.
Pablo Fuchs, senior editor of Investment Executive, and Clare O’Hara, reporter, outline the key findings of the 2013 Dealers’ Report Card. They discuss the disparity between how advisors are performing in the post-recessionary world and how they feel about their firms. Fuchs and O’Hara spoke at the TMX Broadcast Centre in Toronto.
Most advisors and their dealer firms respect the value of the active management that mutual funds offer
The average age of advisors at dealer firms has risen, as has the number of advisors who have a succession plan in place
Advisors are dissatisfied with the material their firms send out and management's receptiveness to advisors' feedback
Advisors have long been demanding specialized services for HNW clients; it appears firms are listening
Although advisors have built up their assets under management over the past year, their pay is either going down or stagnant. Advisors also are dissatisfied with reward and recognition progams
Two firms saw their ratings rise significantly — while two firms saw their scores decrease significantly — in several categories
Average AUM and productivity are sky-high this year, and it's the channel's top producers leading the way. Not only have their books of business and client rosters grown, but these advisors are diversifying their AUM beyond mutual funds
Advisors with Canada's top dealer firms are growing their businesses, but many advisors would like to see their firms step up their efforts and provide more services in the years ahead