Our Blog

Keeping You Up-to-Date and Informed

Our Blog

Keeping You Up-to-Date and Informed

Coming into wealth. Part 2.

Managing the basics

April 27, 2017

The second of a four-part blog about the implications of overnight wealth.

In my first blog post investigating the consequences of Coming into wealth, I focused on the psychology rather than the practicality of the issue. This time I want to be more down to earth. My convictions about this matter can be summed up in three words: Get a plan.

Failure to plan means planning to fail

The impact of sudden wealth highlights one of the oldest adages in wealth management: failure to plan means planning to fail.

This means that if you don’t have a wealth advisor, get one. Or, if you have a trusted advisor, go see him/her pronto. Lay out the facts. Discuss the scope of the challenge. Roll-up your sleeves. Get to work. Most important of all: resist the urge to spend. You have plenty of time for that.

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Global market backdrop remains constructive

Here's what we're thinking

April 25, 2017

Global markets since early March have continued to trade with a mildly cautious tone following strong gains of the past year. A period of consolidation should be expected as profit-taking sets in, economic forecasts catch up to the recent firming in activity data, anticipated timelines for President Trump’s pro-growth legislative agenda lengthen and geo-political noise picks up on a multitude of fronts. Given this bout of market volatility has been quite mild (S&P500: -2%; TSX: -1.7% from their late February – early March peaks) and orderly thus far, there is scope for further modest consolidation over the remainder of the second quarter within the normal bounds of this late-stage bull market. To be sure, economic fundamentals remain on solid footing with the global recovery broadening out to Europe and Asia with particularly encouraging data out of China in recent weeks. Thus, the medium-term backdrop for global markets remains constructive and we see any second quarter market pullback as an attractive opportunity to put cash to work.

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Integrated Wealth Management

The Power of Relationships

Integrated Wealth Management

The Power of Relationships

At the The Funke Group we believe in the principle of Integrated Wealth Management, an approach to investments and wealth accumulation that draws its strength from the power of relationships.

So while the relationships we build with our clients are vital, so too are our partnerships with other specialized individuals and teams within ScotiaMcLeod, Scotiabank, and Scotia Wealth Management.

The synergy created by this combination of resources and expertise, when brought to bear on individual client expectations and needs, is extraordinarily effective Wealth Simplified.

Our Solutions

The Desire for Simplicity

Canada has a well-deserved reputation for the stability and reliability of its banking system. Consequently, increasing numbers of affluent Canadian individuals, families and business owners are telling us that they wish to consolidate their banking and investment needs inside a single financial institution.

At The Funke Group we have been quick to recognize and respond to this important and growing desire among our existing and prospective affluent clients to simplify the management of their financial affairs.

Although this trend is gaining momentum, few financial institutions have assembled the broad range of integrated services necessary to confront the challenges it presents.

At the The Funke Group, we’ve done just that. Wealth Simplified.

Our Team

A Wide Range of Resources

Our Team

A Wide Range of Resources

Geoff Funke

Geoff Funke

Senior Wealth Advisor

Geoff brings significant management and administrative skills to the The Funke Group. A graduate of the University of Saskatchewan, specializing in Mathematics and Statistics, Geoff is personally pro-active and professionally entrepreneurial. With strong inter-personal and communication skills, Geoff is, above all, a gifted business builder.

Passionate about his chosen profession, Geoff is dedicated to helping his clients achieve their investment and wealth management objectives. Honest and fair in all of his dealings, he seeks to make a positive contribution in the lives of those who turn to him for advice. Not one to sit idly by, he likes momentum and strives to build upon the successes he has helped his clients achieve.

Our Services

Discovery. Analysis. Recommendations.

We begin the new client discovery process with a conversation. We are businesslike. And we ask a lot of questions.

These questions analyze each client’s financial strengths, weaknesses, blind spots and assumptions that may have been overlooked or unacknowledged.

Disciplined, systematic and goal-driven, the The Funke Group also recognizes that many affluent individuals and families have other experts they rely on for advice.

If you are one of them, we applaud you for doing so. We welcome the opportunity to work with your other advisors to develop an integrated, comprehensive plan that measurably builds, protects and grows wealth.

Equity investing has evolved significantly over the years and has taken on a whole different look with the evolution of the internet. 40 years ago, a small part of the population were invested into the stock market, but in the early 80’s and 90’s as interest rates fell, investors began looking for alternatives to GIC’s. The so called GIC refugees, used to receiving double digit returns, were now faced with a lower interest rate and an appetite for higher returns. This lead to the proliferation of the mutual fund industry, where one could invest in one product, managed by a portfolio manager, with greater access to information and expertise. The mutual fund industry saw record growth during this time and a lot of people felt there were more mutual funds than stocks. But with the crash of 2000, mutual funds began to show some warts. With massive liquidation of mutual funds, led to massive selling pressure of their holdings and we became aware of the inefficient tax consequences of holding mutual funds, as well as the embedded fees that were not hidden but were definitely out of sight.

This led to the next phase of equity investing, where investment advisors would recommend portfolio managers, or pension managers to manage the portfolio. Fees were in plain sight, stocks were individually held and your gain or loss was dependant on your own circumstances. These were named separately managed accounts. But these too had faults, especially during 2007 to 2008 crisis, where stocks were hit, yet fees which were still somewhat high, kept on being charged on the assets invested.

After 2008, the biggest question people ask are, what is this going to cost me. We have seen a proliferation of low cost exchange traded funds, where you can just buy an index, or sub-index which are passive ways of investing and now we are seeing a large number of actively managed exchange traded funds, with a slightly higher fee, but there to provide a higher return.

With all of these changes over the years, and the access to information, whether it be through the internet, BNN, or CNBC, or from your friendly cab driver, everyone has their opinion on how to invest in the stock market. We believe here we have come up with the best solution for this.

The Scotia Wealth Management Portfolio Advisory Group, are specialists who provide equity and fixed income advisory and trading services, specifically focused on the retail full service brokerage of ScotiaMcLeod, and more broadly to the Wealth Management operations of Scotiabank.

Their Vision: To partner with Advisors and their clients, providing value added services and actionable ideas supporting equity and fixed income advice, trading and portfolio strategies that allow Advisors to define themselves with their clients and prospective clients.

This group is unique within the Canadian investment world both in numbers and expertise as well as the way they manage money. It gives us the best of both worlds with the expertise behind a separately managed account but with a competitive fee structure. We have unlimited access to these individuals to discuss ideas and trends. The portfolio Advisory Group is led by Shane Jones, Chief Investment Officer, Co-Head, who is very well known in the investment circles of Canada and is a frequent commentator on BNN.

Contact Us

How to Get in Touch With Our Team

Contact Us

Get in Touch with Our Team

1676 Martin Drive, Suite 100, White Rock, British Columbia, V4A 6E7, Canada
(604) 535-4721 · (604) 531-0227