I’m always fascinated when I overhear people talking about investing. Most of the time they’re strictly focused on performance. Frankly, it’s short sighted, but the truth of the matter is that’s the way it used to be.
For decades, when so many of us were enjoying consistent double-digit returns, all we talked about was performance. Ads for investment advisory firms and mutual fund companies concentrated solely on the numbers. “Performance” was how we positioned ourselves, how we
compared ourselves to the competition and how we sold investments.
Don’t get me wrong. I’m not dismissing the importance of returns. Of course you want returns. All investors do, that’s a given. So do I.
But to my mind, what we really should be paying attention to is the positive impact taking a comprehensive look can have on an investor’s success, especially in these unpredictable times. Taking the whole picture into account — so we can provide you, surround you, with all the services, specialists and expertise you need and deserve.
What I’m talking about is the value Investment Advisors can and should give you that goes beyond returns
None of us are one-dimensional; and none of us have just one financial goal. Yes, we want to ensure we have the funds to enjoy our dream retirement, but we also want to take care of our families, our businesses (if we own one) and leave meaningful legacies.
That’s why financial plans are so critical. The more we know about you, the deeper we can go, the clearer your goals and objectives become even to you, the more strategic we can be, the more relevant and consequential our advice, recommendations and solutions can be — and the more comfortable and successful you can be.
And that requires more than just providing investment advice and portfolio management
True success comes when all of your financial and investment needs and objectives are taken into consideration. When the “service” you receive includes counsel on how to best take advantage of all available options and opportunities — from lending to liquidity, from custom solutions to best practices, from sophisticated tax strategies to strategic philanthropy and helping you navigate more delicate matters like wealth transfer and selling or transitioning your business.
Inspiring you to include your family in the discussions so they understand, are onboard and protected and taken care of in the future. Encouraging you to think differently or step out of your comfort zone when appropriate. Shepherding you through not only the peaks and valleys of investing, but also through the often difficult and complex conversations and decisions that are part of accumulating and passing on wealth.
Providing value beyond returns. It’s the difference between simply selling you investments and being a partner in your success.
Alan Friedman is an Investment Advisor with CIBC Wood Gundy in Toronto. The views of Alan Friedman do not necessarily reflect those of CIBC World Markets Inc. CIBC Wood Gundy is a division of CIBC World Markets Inc. a subsidiary of CIBC and a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. If you are currently a CIBC Wood Gundy client, please contact your Investment Advisor.