Wow, Schneider & Pollock Wealth Management Inc. (“SPWMI”) just turned 2 years old!
February 1, 2022, was the day our principal regular (the Ontario Securities Commission) approved SPWMI’s application. That same day, so too did the provincial regulators in Alberta and Nova Scotia. Since then, British Columbia has done the same.
Most don’t realize it, but to be a registered in the “portfolio manager” category within any Canadian province is akin to leaping over the high jump bar… at the Olympics… with everybody watching… and receiving a round of applause. It’s a big deal!
That’s because a “portfolio manager” has qualifications that few others share.
When you walk into a bank, chances are that the very friendly and well-trained person you chat with about your last vacation and child’s abysmal report card isn’t actually allowed to:
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recommend a stock (even a bland one like Royal Bank), or
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tell you whether it’s a wise idea to buy or sell a particular bond (even a boring one like Enbridge).
Our competition includes the large banks and insurers with a seemingly endless supply of assets (and conflicts of interest); asset management firms with billions of dollars and deep pockets for marketing budgets; and stockbrokers that lack independence.
Nevertheless, we’re holding our own.
Over the last two years, we’ve welcomed almost four dozen people to our clientele, each of which we regard as a friend. Earlier this week, SPWMI added a new client. In two weeks, we anticipate another. Next month, we plan to add 2-3 more.
Our company is well organized and divided into 8 separate silos. These silos include a dedication to Clients, Compliance, Corporate Governance, Investments, Marketing, Prospective Clients, Operations, and Financials. Each day, we have thorough meetings to discuss each topic.
In addition to these silos, our recipe for success is the following:
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Our clients come first. We have received many Saturday morning emails from clients and met them in person that same day or over Zoom. Often, the topic for discussion is a matter of personal finance that would be best left to their accountant. However, we’re a full-service firm that has committed to doing whatever it takes to help our clients.
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We keep our word. If we say we’re going to do something, we do it. That could be as small as sending a detailed report specifying their unused TFSA contribution room, or it could be a phone call to chat about the asset allocation.
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We work hard each day. A “down day” in the stock market is never fun, and we don’t have the same energy when clients lose money as we do when their stocks go up in value. However, we work hard each day and give our clients the best value for their money as possible. Our firm works on evenings and weekends if there is work to be done that our clients require.
Starting any new company – be it a lemonade stand, restaurant, or wealth management firm – accompanies its own unique challenges and opportunities.
Two years in, it was the best decision we’ve ever made.
Our infrastructure is exceptional, the clients are happy, and we’re excited to expand our footprint. One Canadian entrepreneur often said, which we echo as well, “the best is yet to come.”
-Sunni Schneider & Jeff Pollock
DISCLAIMER: The opinions expressed in this publication are for general informational purposes only and are not intended to represent specific advice. The views reflected in this publication are subject to change at any time without notice. Every effort has been made to ensure that the material in this publication is accurate at the time of its posting. However, Schneider & Pollock Wealth Management Inc. will not be held liable under any circumstances to you or any other person for loss or damages caused by reliance of information contained in this publication. You should not use this publication to make any financial decisions and should seek professional advice from someone who is legally authorized to provide investment advice to assess your goals and objectives, personal circumstances, and make an informed suitability assessment.
