Getting to Know High Net Worth Investors in Canada: Opportunities & Expectations
The High Net Worth (HNW) population in Canada is a growth story, and it is also becoming increasingly complex in terms of the wealth-management needs and expectations of its members. Our (Login Required)new white paper addresses the opportunity for financial advisors represented by the 790,000 millionaire households in Canada. Also, the paper seeks to identify key issues that need to be considered by advisors as they seek to attract and retain HNW clients.
Here are key takeaways from the paper and a description of Mackenzie’s services to help you grow your HNW business.
- The Canadian HNW market is growing faster than any other retail segment.
- Entrepreneurs and retirees make up the two largest groups within the segment.
- The segment’s average age is just below the normal retirement age of 65.
- Advisors must focus on the financial and lifestyle needs of the family, not the individual.
- Segment growth is being fueled by liquidity events, inheritances and lump-sum employment income.
- The emphasis of advisors should be extended beyond investments to include the balance sheet, cash flow, risk-management, tax planning and estate planning needs of the client family.
- The needs of HNW clients become more complex as their wealth increases.
- Capital preservation, limited volatility and income generation are the primary investment goals of HNW investors.
- HNW families are demanding ever-increasing expertise and commitment from advisors.
- The distinction between the various advisory channels serving the needs of the HNW segment is becoming blurred.
Here's How Mackenzie Investments Can Help
Mackenzie Private Wealth Counsel is dedicated to providing a deeply personalized wealth counselling service to households with $500,000 and more in investable assets.
Our portfolio management experts and Tax & Estate Planning Team work with you to create an optimal wealth management solution that is specifically tailored to meet your clients’ needs.
Take advantage of exclusive benefits, including:
- Institutional-style investment management that uses rigorous techniques similar to those employed by pension funds and other institutional investors.
- A personal Tax & Estate Summary Report that discusses the tax implications of a client’s investment activities, including potential strategies to reduce your tax bill, preparing a will, creating a power of attorney and much more.
- Access to the Mackenzie Charitable Giving Program, a donor-advised charitable giving program that combines potential tax benefits with the ability to support your favourite charities now and in the future.
- Consolidated household solutions that allow asset allocation, tax planning, rebalancing and client reporting to be performed on a household level.
- Reduced fees that decrease even further at higher investment thresholds that may be easily attained thanks to Mackenzie’s market-leading householding policy and Automated Preferred Pricing Service.