2018 Ranking and Reviews: Best Financial Planners in Vancouver


2018 Ranking of Best Vancouver Advisors. What Should You Look for When Hiring a Vancouver Financial Advisor?

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Financial advisors can help clients in any number of ways, from creating the ideal investment portfolio for their needs to helping them with business-related issues, such as succession planning.

Essential to choosing a Vancouver financial advisor is a sense of trust, transparency, and expertise, particularly if you have a specific or complex financial situation.

The following are specifics to keep in mind as you select a financial advisor in Vancouver:

  • According to CBC, there are as many as 100,000 people in Canada who describe themselves as financial consultants, advisers or planners, but they’re not all the same.  The first step when hiring a Vancouver financial advisor should be an understanding of your specific needs, as many firms specialize in one area or another.
  • When people start their search for a financial advisor in Vancouver, they often forget one of the most important elements—a personal connection, or at least a feeling of comfort. You’ll need to feel comfortable sharing your personal financial life with a Vancouver financial advisor.
  • While financial planners in Vancouver may have what seems like an alphabet soup of letters beside their name, the two most important credentials tend to be CFP® (Certified Financial Planner) and RFP (Registered Financial Planner).

For a discussion on the differences between fee-only versus fee-based firms (and why our review favors fee-only wealth management in Vancouver), see the section below.

 

Top 10 Best Financial Advisors in Vancouver, BC, Canada | 2018 Brief Comparison & Ranking

Best Wealth Management Firms in Vancouver Highlighted Features 2018 Ratings
Cypress Capital Management Clients have access to exclusive Cypress Pooled Funds 5
Elevate Wealth Management Discretionary investment platform 5
Macdonald Shymko & Company Highly certified financial advisory team 5
Money Coaches Canada 7 Stages of Financial Well-Being® 5
Nicola Wealth Management Private investment pools for greater diversification and exposure to asset classes 5
Oldum Brown Disciplined, value-based approach to investing 5
Pacific Spirit Investment Management, Inc. Highly accredited team of Vancouver financial advisors 5
RGF Integrated Wealth Management Comprehensive suite of financial services 5
T.E. Wealth Dedicated Aboriginal Services practice 5
Chartwell Financial Group Insurance planning expertise 3

Fee-Only vs. Fee-Based Vancouver Financial Advisors

When it comes to evaluating financial advisors in Vancouver, there are typically two types of firms to consider: fee-only and fee-based advisors.

How do you know which type of Vancouver wealth management firm is right for you? Below, we’ll provide you with a brief overview of everything you need to know about the differences between fee-only and fee-based investment advisors in Vancouver.

Fee-Only

When an investment firm or a financial advisor in Vancouver says that they are “fee-only,” this means that they do not accept commissions or third-party referral payments.

Because an advisor’s only source of income comes from the client, a fee-only pricing structure minimizes the inherent conflicts of interest that come along with recommending and selling investment products.

In short, a fee-only financial advisor in Vancouver is in a better position to act solely in the interest of their clients.

Fee-Based

Fee-based firms will receive some direct compensation from clients but are free to accept commissions from the companies who provide their financial products.

While a fee-based structure does create some potential conflict, many fee-based firms are also fiduciaries, which often counteracts the potential for conflict.

Wealth management firms in Vancouver that adopt a fiduciary commitment are legally responsible to fully disclose any conflicts of interest and are required to put the interests of their clients ahead of their own.

AdvisoryHQ’s Selection Methodology

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services and products that are ranked on its various top-rated lists?

Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.

 

Nicola Wealth Management Review

Nicola Wealth Management is a financial advisor in Vancouver that services high-net-worth individuals and their families with a primary focus on entrepreneurs, business owners, and executives.

As a fee-based wealth management firm in Vancouver, we have chosen Nicola for their wide range of financial services and their large, talented team.

Key Factors that Enabled Nicola Wealth Management to Rank as a Top Wealth Management Firm in Vancouver

Unique Investment Opportunities

With Nicola, you have access to investment opportunities otherwise hidden to other investors. This includes the ability to partake in a Nicola wealth management investment pool.

You have the chance, for example, to own investment-grade commercial real estate. Due to innovative thinking and the inroads they’ve forged within the financial services industry, Nicola can open doors that most Vancouver wealth management firms cannot.

Many private investments preclude a large segment of the investing population due to their selective nature and requisite high minimums. With Nicola, however, you have access to such assets, affording you the potential for greater returns through more numerous, higher-quality investments.

Additional unique opportunities include alternative strategies like commercial mortgages, private equity, private debt, and direct real estate ownership.

Performance and Reporting

The Vancouver financial advisors at Nicola are committed to keeping clients up-to-date on their portfolio’s performance and progress while providing education on why investments are behaving the way they do—and what can be done to maximize them.

To that end, Nicola provides clients with:

  • Rate of Return Statements—Distinguishes between deposits and actual investment returns to provide clients with a clear picture of performance
  • Cash Flow Statements—Shows exactly how much cash is generated by your portfolio (after fees are deducted)
  • Fiscal Report Statements—Provides detailed reporting to assist accounting professionals with annual tax filing

Additionally, your Vancouver financial advisor will schedule either a face-to-face meeting or a phone call at least once every quarter, and work with a network of advisors and consultants to ensure that your financial plan is both synergized and maximized.

Rating Summary

As one of the top financial advisors in Vancouver, BC, Nicola Wealth Management provides clients with an expert, diversified approach to comprehensive wealth management.

All financial plans and portfolios are highly customizable and built to address a variety of financial challenges at once, making Nicola Wealth Management one of the best investment firms in Vancouver to consider partnering with this year.