The average Trusted Wealth Professional has a ‘book’ of $101M. Spread out across approximately 100 ‘family’ accounts; for RRSP, TFSA, RESP, business and Investment accounts, that’s about $1M per Canadian investor.
The average mutual fund investor, at a bank, Mutual Fund sales entity, or possibly a proprietary product seller, has $46k (IFIC’s number for 2015).
Why? The Trusted Wealth Professional makes a difference. It is unfortunate that generic KYC’s and IPS’s ultimately don’t differentiate a Trusted Wealth Professional based on Investment Style, but perhaps it is best to think of the $1M to $46k gap in this manner:
- Trusted Wealth Professionals = Capital Preservation
- Others = Commission Preservation (possibly)
The Wealthy don’t like to lose money, and not losing money is key to Wealth Accumulation (it is sometimes terms Capital Preservation).
‘Licensing Matters’, when you have access to ALL the Investment Products, ALL the Investment Services, and ALL the Investment Styles (including Buy & Rule), you’ll begin to understand the $1M to $46k gap.
Note: I know I am in ‘persuasion’ mode, and I am fully aware that this Posting is a commercial for the Trusted Wealth Professionals. But I think a 20x gap, from roughly $46k to $1M is a question you should address, most likely by connecting via the Locator with a Trusted Wealth Professional. It doesn’t matter if you need Growth, Income & Growth, or just Income (ie. GICs + Other), it’s worth the effort to initiate the connection.
‘Licensing Matters’; please Rule your Wealth.
If you need help, please start here: Link: LOCATOR Warmup
