When you’re building a fast-growing Canadian investment dealer, you must constantly improve. But sometimes, you also must improvise.
At Designed Wealth Management’s 4th Annual Conference in Calgary this October, I shared 10 trends shaping the future of investment advice in Canada, and what they mean for advisors and clients.
From technology-driven personalization to regulatory shifts and evolving client expectations, these trends aren’t just headlines. They’re signals of where our industry is headed. For advisors, understanding these changes isn’t optional; it’s essential for staying relevant and delivering real value.
Improvement is about planning. Improv is about adapting. Both matter when the pace of change accelerates.
1. The rise of AI agents
AI is no longer a buzzword. The technology is transforming portfolio management, compliance and client engagement. Advisors who embrace this shift will gain efficiency and insight. Those who resist may lose efficiency and competitiveness, and struggle to scale and meet client expectations for speed and personalization.
2. The race away from independence
Independence was once the holy grail for Canadian advisors. Today, many are moving toward vertically integrated firms combining advisory services and proprietary asset management. The tension between autonomy and infrastructure is growing. For advisors who value independence, the question is clear: Will independence remain viable, or will integration become inevitable?
3. Banks are winning
Big banks dominate through brand trust and integrated services. Independent dealers must differentiate with agility, personalization and niche expertise. The real challenge isn’t scale. It’s infrastructure. Custody and banking (both private and transactional) remain gaps for independents. Solving these isn’t technical; it’s strategic. The firms that innovate here will define the future of independence in Canada.
4. Increasing demand for in-person interaction
Despite digital convenience, clients still crave human connections — especially for complex planning. Hybrid models will define the next era of client service. Firms that overrely on digital channels risk losing clients who value in-person interaction. Without adopting hybrid approaches, attrition becomes inevitable. The future isn’t digital-only. It’s digital plus human.
5. Succession planning and M&A
Advisor demographics and consolidation pressures make succession planning non-negotiable. Expect more mergers, acquisitions and structured exits as aging advisors face rising M&A activity. Without a plan, firms risk business continuity and client trust. Succession planning isn’t about selling your book. It’s about ensuring a smooth transition that protects clients and preserves the firm’s legacy.
6. Unified managed accounts
Advisors doing things status quo can still succeed, but the landscape is shifting. Unified managed accounts (UMAs) are gaining traction as clients demand simplicity and advisors seek scalable solutions. UMAs aren’t just a trend; they’re becoming essential for firms that want to stay competitive. In a complex world, UMAs deliver efficiency, integration and a differentiated client experience.
7. The need for private banking
High-net-worth clients expect concierge-level service, and dealers that integrate private banking capabilities will win loyalty. Without these offerings, firms risk losing affluent clients to competitors with integrated solutions. Meeting these expectations isn’t optional. It’s a strategic move to protect relationships and remain competitive in a market where premium service defines success.
8. Rising interest in alternatives
Private markets and alternative investments are no longer fringe. They’re mainstream. Advisors need education and access to meet growing client demand. Without both, they risk missing opportunities and losing sophisticated investors to competitors. The ability to deliver alternatives isn’t optional. It’s becoming a core expectation in modern wealth management.
9. Single sign-on and integrated platforms
Technology fragmentation is a major pain point for advisors. Single sign-on and integrated platforms are no longer nice-to-haves — they’re essential for reducing friction, improving efficiency and enhancing client experience. But integration alone isn’t enough. Advisors also want customization to reflect their unique workflows. Seamless, personalized systems create scalability and compliance confidence. Integration with flexibility is the future.
10. Cross-border services
With more Canadians living, working and retiring across borders, cross-border tax and estate planning is becoming critical. Advisors who ignore this growing need risk compliance pitfalls and missed opportunities. Delivering expertise in cross-border planning is a huge opportunity and a strategic advantage for attracting and retaining globally mobile clients in an increasingly interconnected world.
The advisory landscape isn’t just evolving. It’s polarizing. Some advisors are pursuing portfolio manager status, while others consider leaving licensing entirely. This creates regulatory uncertainty, career instability and client confusion. Adaptation defines relevance.
Michael Konopaski is managing director at Designed Wealth Management.