National Bank Financial – Wealth Management (NBFWM) continues to reach new heights of growth. And one of the keys to its success is that the brokerage offers advisors the best of both worlds — the ability to be an independent entrepreneur, while being backed by a national firm. Edward Svetek, Senior Wealth Advisor & Portfolio Manager at NBFWM, discusses why he made the transition in 2018.
Q. Why did you decide to join NBFWM?
Edward Svetek: We needed a change, and we received offers from several places. But NBFWM seemed to be the most entrepreneurial, and their technology suite was impressive. We didn’t know COVID was going to happen, but we knew technology would be very important to growing our business.
And we made the right choice. The support we received when we transferred made it an easy transition. Obviously, it’s a hard thing to do. But they brought in people from Montreal and Toronto to help us with our paperwork. And management was, and still is, very supportive.
Q. How does NBFWM differ from your previous brokerage?
ES: There’s very consistent management. They care about you growing your business. They want you to be entrepreneurial. They ask how they can help. We even get calls from Jonathan Durocher, the president of NBFWM, to see how we’re doing and if we need anything.
Again, it’s all about the technology here. During COVID, we could work from home. It was easy with the way the technology is set up and the programs they have in place, including Croesus (to manage client portfolios), Advice Suite (to manage financial and estate planning), and CRM (to keep organized). My previous firm didn’t have that technology.
The training department is also very good. They help you build your team and enhance your ability to use the technology better to run your business. And the estate planning department is top-notch for clients. They spend a lot of quality time with our clients and the output is very helpful.
Q. How has your business grown since joining NBFWM?
ES: We’ve increased our business 10% to 15% each year since we moved. And that’s even during COVID. It’s because we’re able to offer a full financial plan to clients. We look at all their money and goals and give them a road map to follow to achieve what they want. We’ve also built relationships with the bank, including various branches, and the commercial side of the business to get new clients.
Q. How does NBFWM provide the best of both worlds, in that you can be an entrepreneur that’s backed by a national company?
ES: There are five people on my team, including my partner, Mitch Robinson, and me. And while we have access to upper management to answer any questions or guide us, they let you run your business. We have different people we can turn to in the company to help us in portfolio management, on the trading side, on the bond side, or even for structured notes, for instance. We can pick up the phone and call them. But they let you be an entrepreneur and grow your own business.
And there’s no selling of proprietary products, which is the biggest thing that’s important to me. I don’t have to buy National Bank products for my clients just because I’m an NBFWM advisor. This gives me the ability to build my practice the way I see fit for my clients.
Q. How have your clients reacted to the transition?
ES: It was seamless for them. And we continue to get a lot of referrals from our clients because of the job we do for them, and how we take care of them. We have a lot of multigenerational families whose investments we manage, and then we get referrals for their friends, too.
Q. What would you say to advisors looking for a change?
ES: Everybody who wants a change should definitely look at National Bank Financial – Wealth Management because it’s a premium brokerage that allows you to be an entrepreneur. They’ll let you independently run your business but help you when you need it.
Looking for a change? Make the move: nbfwm.ca/career