2019 Rankings and Reviews: Best Financial Planners in Vancouver


Ranking of 2019’s Best Vancouver Wealth & Financial Planning Firms.

View the original article online

Residents of Vancouver, BC enjoy a coastal locale that’s also the third most populous city in Canada. One thing that many residents have in common are certain financial goals for the future.

Many of us are looking to do certain things with our money that take strategic planning to accomplish, such as saving for a comfortable retirement, funding a child’s future education, or supporting an organization through philanthropic gifts.

Professional financial advisors in Vancouver have the skills and experience to help individuals and families manage their finances and grow and protect their wealth. But many people aren’t sure how to get started with a financial planner or how to choose the right one.

There are a few determining factors when looking in Vancouver, British Columbia for a top wealth management firm that can help you zero in on the perfect one for your needs. These include:

  • Fee structure they work with (we’ll explain in the next section)
  • What types of clients they serve
  • Any minimum investable asset requirements
  • What their specialties are (retirement planning, entrepreneurs, etc.)

 

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

Best Wealth Management Firms in Vancouver  2018   Ratings
Cypress Capital Management  5
Elevate Wealth Management  5
Macdonald Shymko & Company  5
Money Coaches Canada  5
Nicola Wealth Management  5
Oldum Brown  5
Pacific Spirit Investment Management, Inc.  5
RGF Integrated Wealth Management  5
T.E. Wealth  5
Chartwell Financial Group  3

Fee-Only vs. Fee-Based Vancouver Financial Advisors

As you’re reviewing financial advisors in Vancouver, you’ll find two main types of fee structures to consider: fee-only and fee-based.

What’s the difference between these two similar-sounding terms? How do you know which Vancouver wealth management firm is right for you? Below, we’ll give you a short overview of everything you need to know about fee-only and fee-based investment advisors in Vancouver.

Fee-Only

“fee-only” wealth management firm in Vancouver is one that does not accept commissions or third-party referral incentives for recommending financial products or services.

The only source of income for these Vancouver financial planners comes from the client, which minimizes the inherent conflicts of interest that come along with recommending and selling investment products.

In Canada, you’ll also see the term “advice-only” used to describe the fee-only structure. This type of fee structure makes it easy for an advisor to always act in their client’s best interest.

Fee-Based

“Fee-based” investment management firms in Vancouver will receive some direct compensation from clients but are also free to accept commissions and incentives from companies who provide their financial products.

The fee-based structure creates some natural potential for conflict of interest for the advisor, which is why many fee-based firms are also fiduciaries.

Both fee-only and fee-based firms can also be fiduciaries, which means they are legally required to fully disclose any conflicts of interest and are obligated to put the interests of their clients ahead of their own.

2019 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 Review

Founded in 1994, Nicola Wealth is a financial advisory firm in Vancouver that has additional offices in Kelowna and Richmond, BC and Toronto, ON. They work with high-net-worth families, entrepreneurs, and professionals.

The firm is a fee-based wealth management firm in Vancouver. We have chosen Nicola Wealth for their wide range of financial services, their fiduciary commitment, and their large, talented team.

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

Unique Investment Opportunities

With Nicola, you have access to investment opportunities that aren’t always available to investors. This includes the ability to partake in a Nicola wealth management investment pool.

For example, you have the chance to own investment-grade commercial real estate. Due to innovative thinking and the inroads they’ve forged within the financial services industry, Nicola can provide opportunities that are unique to their firm.

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

Additional opportunities offered by Nicola Wealth include alternative strategies like commercial mortgages, private equity, private debt, and direct real estate ownership.

Performance and Reporting

The Vancouver financial advisors at Nicola Wealth are committed to keeping clients proactively informed about their portfolio’s performance and progress while offering education on how investments behave and what can be done to maximize them.

To that end, Nicola Wealth 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: Offers 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 each quarter and works with a network of advisors and consultants to ensure that your financial strategy is both holistic and maximized.

Rating Summary

Nicola Wealth operates under a refreshingly open and transparent philosophy. From investing beside you to proactive communication and performance, they give clients peace of mind that they’re operating with integrity.

With a customized approach and a talented and attentive team, Nicola Wealth solidifies its 5-star rating as one of the best investment firms in Vancouver to consider partnering with this year.