What Is Holistic Wealth Management

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1) What is Holistic Wealth Management

-let's start with the traditional kind of view of a stock portfolio manager or a stockbroker or a stock trader. Historically, the model used to be that you would go out there, you would hire someone to buy and sell securities for you, and you would pay some sort of commission or some sort of fee in order for them to do that.

-our view about proper wealth management, a holistic view of wealth management is that there's much more in managing someone's wealth than simply picking stocks. Specifically, today we're going to talk about two different parts, two different avenues to holistic wealth management. The first one is the stuff that I do.


2) Investment management.

-that's my passion. That's why I went to school. That's the day to day stuff. We're talking about asset allocation. How much should you have in stocks, bonds, alternatives, actual stock selection, you know, should we buy Google and Amazon instead of, Royal Bank or Suncor, the actual stocks. And then geographically, should we have more Canadian, U.S., or global? We've historically been overweight U.S. and global, but that's another part of our day to day job. Sector allocation, should we have more financials and less energy, or whatever that may be.


3) There's a whole bunch of different sectors, for example: tech and growth.

-how much should you have of that? I'm also re-balancing the portfolio; the market has moved dramatically. Are you going to be selling some stocks as your stock portfolio grows and then maybe shifting asset allocation towards bonds or fixed income, tax efficiency of investing? How are you allocating the tax efficiency... the more tax efficient investments relative to your portfolio? You and I talk about this when we do the planning, it's very important to have the tax efficient investments in the non-registered account or the corporate accounts, and to have the least tax efficient investments, you know, perhaps in an RRSP or a nontaxable account, because when you're drawing it out, it makes a ton of sense, right?

4) Alternative asset classes, we want to have assets that are uncorrelated to the stock market that are generally going to perform, no matter what happens in the stock market. They do wonders for volatility, reducing volatility and for risk adjusted returns.

-the entire portion of holistic wealth management that happens to do with investment management ends up falling on the portfolio manager's shoulder. In this case, that's me and my entire team. The analysts, the wonderful people at Canaccord Genuity that provide us with the research, provide us with the economists, the macro-economic stuff, the global, any technical analysis that we do on stocks, theory around asset allocation, theory around risk adjusted returns, all of that fun stuff.


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