What is HollisWealth?
HollisWealth is a wholly owned subsidiary of Industrial Alliance Securities Inc. One of Canada’s largest independent financial advisor networks, HollisWealth is committed to helping its advisors help Canadians achieve financial security. Completely independent, HollisWealth advisors are never tied to one specific solution and can offer the financial products, partners and services that best meet their clients’ needs.
What is PWM Private Wealth Counsel?
PWM Private Wealth Counsel is part of HollisWealth’s premier network of financial advisors and your partner in helping you attain financial peace of mind through a wealth of knowledge, ethics, integrity, experience and a unique level of service.
What services do you offer?
We specialize in fee-based, discretionary wealth management. We also offer traditional wealth management, complete retirement planning services, a multitude of insurance and risk management products, as well as personal and corporate tax return services.
What is discretionary wealth management?
Few organizations are permitted to provide discretionary management. To do so, Portfolio Managers must complete the most demanding educational, experiential and organizational requirements and meet the highest conditions of registration with securities commissions.
What is a Portfolio Manager?
Portfolio Managers are fiduciaries who must meet the highest conditions of registration with the securities commissions and are held to a very strict code of conduct. Less than 5% of all investment advisors in Canada are licensed Portfolio Managers. To receive PM licensing, an advisor must hold either a Chartered Financial Analyst® (CFA®) designation or a Chartered Investment Manager® (CIM®) designation, as well as complete a rigorous application process with their firm and the regulators.
What is a fiduciary?
Portfolio Managers have a legal obligation, or fiduciary duty, to act with care, honesty and good faith, always in the best interest of clients. Investment decisions must be independent and free of bias. This differs from advisors who are not Portfolio Managers and who merely have a “duty of care” required. Fiduciary duty puts a much higher level of trust placed on Portfolio Managers.
What is an Investment Policy Statement (IPS)?
A Portfolio Manager develops a written agreement called Policy Statement, or IPS. This IPS sets out the investment goals and objectives of the client and describes the investment strategies suitable to meet those objectives. The IPS takes into account specific needs, including risk tolerance, time horizon and investment philosophy. Your IPS is the basis upon which we select an appropriate mix of investments and make discretionary adjustments to your portfolio, and it lays out the framework for how your portfolio is managed.
Who do you serve?
Our advanced designations and depth of experience give us the ability to handle very large portfolios, as well as those of farm families, small to medium-sized business owners, professionals, corporations, associations, foundations, pre-retirees and retirees. Our current minimum household account size is $250,000 in Saskatchewan and $750,000 in other provinces, with specific exceptions.
Who benefits most from your services?
Our services are suited to investors who prefer to have trusted professionals make day-to-day investment decisions for them, or who may want to access investments typically only available to ultra-high net worth investors and pension funds. Any client who has a complex financial, tax or investment situation, a need for a more sophisticated level of financial planning and investing, or who simply wishes to plan prudently for his or her financial future will benefit from the services we offer.
How are you paid?
As Portfolio Managers, we charge a percentage of the investments we manage for you. This fee is transparent and generally much less than those of typical mutual funds, which are often embedded as a cost of doing business. Fees vary depending on the size of your portfolio and are not paid by commission based on the volume of buying or selling investments. For clients who choose a mutual fund portfolio, we receive commissions from the mutual fund companies. Speciality products such as flow-through shares may also pay a direct commission. Our commitment is to be as visible with costs as possible so that you always know what you’re paying for.
Are there any fees or charges associated with transitioning to a discretionary account?
No. There are no fees or charges to switch.
Do I have to complete new paperwork?
Yes. Please allow for additional time at our next meeting and ensure you and your spouse (if applicable) are there.
Will all my accounts be fee-based?
Not necessarily. Some accounts may be more efficient outside this program. Ask us for details.
Will I be able to purchase investments of my choosing?
This is not an option in a fee-based account. However, you can still have a supplementary non-fee based account where you can hold investments and make trades.
Is there a minimum investment required for a fee-based account?
Yes. The minimum portfolio size is $250,000. Current clients who do not meet the minimum will be considered on a case-by-case basis to determine if they can benefit from discretionary management.
What will I be invested in?
We’ll discuss an asset allocation plan with you. You may continue to hold some of the investments you currently own.
Will I still have regular meetings with my Investment Advisor?
Yes, though not as frequently. Discretionary management frees up our regular meetings to focus on a long-term financial plan rather than day-to-day investment decisions.
What is a financial plan?
A financial plan is a written document encompassing an overall review of your financial situation, taking into account your goals and objectives. It focuses on such areas as: income tax planning, asset management, estate planning, risk management, education planning, and retirement. The plan analyzes and recommends strategies that can help you to achieve your financial goals.
What method of analysis do you use to analyze investments?
We focus on a fundamental approach to investment analysis. In other words, we take into account such variables as prevailing economic conditions, specific industry outlook, historical data and performance, the strength of company management, earnings growth and potential, as well as any applicable tax benefits. Above all, we attempt to select investments that harmonize well with your goals and objectives. Our Investment Committee typically meets weekly to formally review existing holdings, and discuss investment changes and new investment ideas. Committee discussion, analysis and, at times, outside counsel help us make well researched, collective decisions based on the risk metrics of each of the different portfolios we manage.
Do you have a succession plan for your Portfolio Managers?
All of our advisors are working toward their Portfolio Manager designation and all play a key role in planning and building our clients’ portfolios. By only hiring highly educated and experienced professionals, we ensure your future needs will always be met.
Is client information kept confidentially?
Yes, client information is kept in the strictest of confidence.
How do I get started?
Simply contact our office at 975-9500 or 1-800-652-7472 for more information, or to book your first appointment. Your initial consultation will take approximately one hour. From there we can decide together if there is a good fit. You can also find more information throughout this website.