Integrated Wealth Management

What does it mean?

December 7, 2017

At the The Funke Group we believe in the principle of Integrated Wealth Management. Sounds important? Correct. But what does it mean? As you can see when you check out my website, I head up a team. Or rather I should say, your team.

Your core team

When you work with us, Paul Basran is your Senior Financial Planning Consultant. Tricia McIver is your Business and Family Wealth Specialist. Anthony Windeyer is your Insurance Consultant. Litza Anderson is your Estate and Trust Consultant. And Canice Spitzer acts as your Private Banker. I act as quarterback, strategizing the plays, managing the process, and taking responsibility for the end result.

There’s nothing off-the-shelf about our approach. Clients expect, and receive, our undivided attention when they have a problem to solve or a plan to execute. A key part of my job is to deploy as many (or as few) of the individuals available to me as appropriate to manage each individual client challenge. The scale and scope of our work depends on you: your requirements, your expectations, and your needs.

Your extended team

The bench strength of our practice extends way beyond your core team. We operate under the umbrella of Scotia Wealth Management, an affiliation that enables us to draw upon the specialist skills and resources available to us through Scotiabank and ScotiaMcLeod.

As a result, we offer a dual advantage for the individuals, families, companies and institutions we advise:

  1. A wealth building experience based on direct personal contact with a responsive, competent, and motivated group of experts you know and can trust.
  2. Access, through that group of experts, to a broad range of specialized services only available through a major financial institution.

This unrivalled combination of attentive personal service, backed by powerful national and global resources, is what I mean by Integrated Wealth Management.

How we work with you

I’ve italicized the word with for a reason. We build relationships with our clients, intended to last years. There are two parts of our process that we pursue with particular diligence: getting to know you (the personal side of the equation) and discovering what you want out of life (the financial side of the equation).

Getting to know you

Typically, I think of this as an informal yet focused general conversation. What makes you tick? is one question I might ask. What are you trying to accomplish? is another. Though apparently casual, the questions I ask are intended to find out how much help you need and whether we can establish rapport and a basis of trust.

Without those two ingredients being aligned, understood and mutually accepted, very little will ever come out of the relationship – however substantial the investable assets of a new client happen to be. I’ll walk away. So should you.

What do you want out of life?

Provided all goes well during the initial discussion – one of my core convictions is that people like to work with people they like – we get to the analytical stage. Notice my use of the word we here. We – client and advisor – are building a working partnership.

I look at everything. Assets. Liabilities. Income. Tax situation. Family obligations. Time horizon. Risk parameters. Some clients already work with other advisors – an accountant and/or a lawyer, for example – so I am scrupulous about accommodating their respective roles as we proceed.

I’m flexible about the precise services I deploy on your behalf. Some clients simply need some fairly sophisticated financial and investment guidance. Others require a detailed strategic wealth plan. It depends on the circumstances and no two sets of circumstances are alike.

Circumstances dictate solutions

Every client is unique. Millennials (born between 1978 and 1998) typically, and correctly, are looking for asset growth. Baby Boomers (born between 1946 and 1964) want asset protection and income – because they’re heading into retirement or are already there.

What you need is what you get. The right team developing the right strategy supported by the right plan taking you in the right direction towards the right objective. All fully discussed, reviewed and agreed to by you.

We monitor your progress carefully, to ensure that we’re meeting your agreed goals. We issue quarterly progress reports and timely tax statements and – at a minimum – sit down with you for an annual review. If you wish to meet more frequently than that, I’ll accommodate you. Simply call me and we’ll set something up.

Success creates complexity

Taking the trouble to structure your fees so that, whenever possible, they are tax deductible is just part of our hands-on approach. An integrated team wealth management team knows each investor’s lifestyle, family, business, estate planning and tax circumstances. That’s how we deliver better results – through all market cycles – compared with those who work in silos.

Integrated, multidisciplinary advice reflects the way most clients should be served and the way that an advisory practice should be evaluated: as a whole. The sum of wealth management, as it should be executed, provides far more value than that of its individual parts. Our job is to minimize the complexity that is often an inescapable part of success.

We call it: Wealth. Simplified.

Geoff Funke, Senior Wealth Advisor, Scotia Wealth Management, 604.535.4721.