As 2025 draws to a close, we asked industry professionals what they thought their firms should focus on in 2026, what they feel optimistic about for the new year and what keeps them up at night.
We posted a social media poll in early December; 53% of the 32 respondents said they wanted their firm to prioritize AI adoption and planning technology, followed by 22% who wanted stronger client relationships and 19% who wanted to grow their practice.
Industry experts we spoke to had largely the same ideas. They wanted to better serve clients with technology, grow their reach with more products and services and support advisors in growth and succession.
However, some were also concerned about market trends as investors flock to certain investment types, and how general macroeconomic trends might impact business.
Embrace tech development, be cautious of thematic excitement
Anthony Messina, president and head of wealth at Guardian Capital, wants to use technology to enhance client communication. While some people frequently use the online portal, others prefer meeting with their advisor face-to-face once a quarter.
“[We want] to tailor communication using technology in a way that reaches the 25-year-old and the 75-year-old in the way they want to be communicated to,” Messina said. The firm has about a half-dozen different client types, and technology can help the firm figure out how best to stay in touch with each client segment.
Desjardins announced it will buy Guardian Capital in the fall, Messina is excited about the acquisition and looks forward to serving markets that Guardian hasn’t served in the past.
At the same time, Messina is worried about market behaviour as investors are focused on select sectors like gold, AI and crypto assets.
“It reminds me of the 1997 – 2000 period where there was this lumpy kind of excitement and exuberance around different things … usually internet-connected,” Messina added. “Our clients ask us to make sense of it; sometimes we’re at a loss for words.”
Capture dissatisfied bank wealth customers
In 2024, Colin White, portfolio manager and CEO at Verecan Capital Management, registered the firm in the U.S. to serve those with cross-border accounts and started offering basic tax filing for clients. Next year, he wants Verecan to expand its estate and trusts services.
Offering more services can help the firm attract customers who may not be satisfied with bank advisor services, White said. “[The banks] focus on improving the performance to shareholders, so the client experience doesn’t necessarily get prioritized,” he added. “You’re going to see the average client experience … get worse next year and we think that we can position ourselves as an alternative to that.”
AI will give advisors more time to strengthen client relationships, White continued. But he’s also selective about tech vendors. The founders of smaller tech firms may be chasing an exit sale, so he doesn’t want to implement a new tech tool just to have the vendor change hands.
“There’s so much hype around the space right now,” White said. “But for us to implement something, we want to make sure that it’s stable.”
Preparing for succession
Ron Malis, a financial advisor and owner of Reegan Financial, isn’t retiring soon, but he is thinking about succession planning.
Malis’ entire book of business is clients with disabilities. While his expertise offers greater client retention, there are fewer advisors who would be suitable to take over the business.
“I think it’s a little bit more challenging for my book of business,” he said.
Malis wants to spend more time educating younger advisors about his area of specialization and attract someone to take on this strategy. “That kind of work excites me and scares me at the same,” he added.
Grow, grow, grow
Harbourfront Wealth Management made two acquisitions last year and another two this year. Its target is to acquire two to three more firms in 2026, said Kim Thompson, company president.
The firm also wants more advisors to join and for advisors to grow their books, but organic growth can also lead to stagnation, Thompson said. “There’s a startup phase, there’s a run phase and then there’s a tendency in the later part of an advisor’s career that their desire for growth might not be as strong as it was in the earlier days.”
The same goes for a larger firm. As it grows, new layers of management distance leadership from revenue generators, diluting an organization’s culture. To remedy this, Thompson prioritizes supporting advisors.
“I don’t add in layers of management,” Thompson added. “Of the 125 emails I get a day, if 10 of them come in from advisor, those are my first response … because they’re the [revenue] engine of the firm.”
AI optimism
“There’s more excitement than there is caution for 2026,” said Paul Savage, head of individual insurance in Canada at Manulife. “Maybe I’m an optimist.”
AI is a “game changer” for the industry and will help Manulife better serve clients and advisors, Savage added. The insurer will continue to invest in the digital platform so clients can follow investment growth and view contract information online.
Meanwhile, Savage is also concerned about how the rising cost of living may make insurance payments a lower priority for Canadians. “When … you’re debating between putting food on the table and paying for rent, all of a sudden your insurance protection may not be the top thing on your mind,” he said.
Savage is looking forward to speaking with advisors to understand client needs and see how insurance products can provide Canadians the protection they need at a price they can afford.