A Valentine goes out to top-notch advisor
A Valentine goes out to top-notch advisor: "It has been a month since our Valentines invitation to happy clients to tell the world about their financial advisors. Interestingly, most of the candidates suggested by readers have come from the big bank-owned brokerages. But in more than one case, the banks did not grant permission for the advisor to be profiled for this feature.
Fortunately, not all wish to hide their light under a bushel. Our first subject -- pictured here -- is Nora McCallum, a Vancouver-based investment executive with ScotiaMcLeod.
After the article appeared, client Reg Nordman e-mailed to say, "I am very happy with my advisor over at ScotiaMcLeod." McCallum cold-called him when she was starting out more than 15-years ago. "Unlike my previous advisors, who called only around February RRSP time, she is very regular in her contacts and always has a plan and a reason for action," Nordman continued, "I have always lost money when I have ignored her advice." He ruefully cites as an example failing to sell Nortel at the peak.
More recently, "she read the oil and gas market to a T. She is very well certified and gives me great service."
When Nordman provided McCallum's co-ordinates, it was with the warning "she works all the time." Happily, we did finally connect. On her business card, four credentials are appended to her name; B.Sc., CIM, FCSI and CIMA. In addition to the science degree, the acronyms stand for Certified Investment Manager, Fellow of the Canadian Securities Institute and Certified Investment Management Analyst. She is also licensed as a Life Underwriter.
McCallum started our interview by emphasizing that clients get access to a team called "the McCallum Group at Scotia McLeod." It includes investment associate Daniel Chow, administrative assistant Anna Imperial, associate Rod Armstrong and insurance consultant Randy Soon.
Still, McCallum is the hub of the wheel. She views herself as her clients' "chief financial advisor." In that role she co-ordinates the team with external tax accountants, estate lawyers and other professional advisors.
Clients usually have at least $250,000 of investable assets -- typically business owners, entrepreneurs and retirees. McCallum boils everything down to a simple mission statement: "I help affluent families find smart, cost-efficient, holistic solutions for wealth accumulation and preservation concerns."
McCallum describes her investment philosophy as "essentially conservative in nature." Portfolios are crafted to work within each client's risk profile, so "both my clients and I sleep soundly each night."
That sentence comes from her marketing materials. In an interview she says, "the people I work with are concerned about keeping their money. They're happy when we do or if they get more than they have a right to expect. But the prevailing message is they don't want to go backwards."
McCallum subscribes to accessibility and education: She maintains a library of financial books she lends out to clients. Among the more popular titles are Barbara Stammy's Prince Charming Isn't Coming, Sandra Foster's You Can't Take It With You, Ron Dembo's Seeing Tomorrow and Moshe Milevsky's Money Logic.
McCallum says most clients understand the importance of long-term investing but find it easier to do the right things when markets are performing well. A common pitfall is holding either too few or too many securities in portfolios. McCallum asks clients to adhere to five disciplined investment principles: Establish goals, identify risk tolerance, diversify, invest rather than trade and understand market cycles.
Investments range from individual securities to index funds and actively managed mutual funds. "People would call me cheap, and [they] have. I don't base decisions just on fees. It all goes into a pot and we base decisions on whatever has the best metrics."
McCallum is gradually transitioning the business from a traditional transaction model to a fee-based one. For the latter she may use F-class mutual funds or exchange-traded funds (ETFs), particularly for global equity exposure. Her first choice is ETFs. "Following behind that would be low-cost conventional mutual funds and behind that individual stocks."
By the way, the Valentines offer is still open."
Fortunately, not all wish to hide their light under a bushel. Our first subject -- pictured here -- is Nora McCallum, a Vancouver-based investment executive with ScotiaMcLeod.
After the article appeared, client Reg Nordman e-mailed to say, "I am very happy with my advisor over at ScotiaMcLeod." McCallum cold-called him when she was starting out more than 15-years ago. "Unlike my previous advisors, who called only around February RRSP time, she is very regular in her contacts and always has a plan and a reason for action," Nordman continued, "I have always lost money when I have ignored her advice." He ruefully cites as an example failing to sell Nortel at the peak.
More recently, "she read the oil and gas market to a T. She is very well certified and gives me great service."
When Nordman provided McCallum's co-ordinates, it was with the warning "she works all the time." Happily, we did finally connect. On her business card, four credentials are appended to her name; B.Sc., CIM, FCSI and CIMA. In addition to the science degree, the acronyms stand for Certified Investment Manager, Fellow of the Canadian Securities Institute and Certified Investment Management Analyst. She is also licensed as a Life Underwriter.
McCallum started our interview by emphasizing that clients get access to a team called "the McCallum Group at Scotia McLeod." It includes investment associate Daniel Chow, administrative assistant Anna Imperial, associate Rod Armstrong and insurance consultant Randy Soon.
Still, McCallum is the hub of the wheel. She views herself as her clients' "chief financial advisor." In that role she co-ordinates the team with external tax accountants, estate lawyers and other professional advisors.
Clients usually have at least $250,000 of investable assets -- typically business owners, entrepreneurs and retirees. McCallum boils everything down to a simple mission statement: "I help affluent families find smart, cost-efficient, holistic solutions for wealth accumulation and preservation concerns."
McCallum describes her investment philosophy as "essentially conservative in nature." Portfolios are crafted to work within each client's risk profile, so "both my clients and I sleep soundly each night."
That sentence comes from her marketing materials. In an interview she says, "the people I work with are concerned about keeping their money. They're happy when we do or if they get more than they have a right to expect. But the prevailing message is they don't want to go backwards."
McCallum subscribes to accessibility and education: She maintains a library of financial books she lends out to clients. Among the more popular titles are Barbara Stammy's Prince Charming Isn't Coming, Sandra Foster's You Can't Take It With You, Ron Dembo's Seeing Tomorrow and Moshe Milevsky's Money Logic.
McCallum says most clients understand the importance of long-term investing but find it easier to do the right things when markets are performing well. A common pitfall is holding either too few or too many securities in portfolios. McCallum asks clients to adhere to five disciplined investment principles: Establish goals, identify risk tolerance, diversify, invest rather than trade and understand market cycles.
Investments range from individual securities to index funds and actively managed mutual funds. "People would call me cheap, and [they] have. I don't base decisions just on fees. It all goes into a pot and we base decisions on whatever has the best metrics."
McCallum is gradually transitioning the business from a traditional transaction model to a fee-based one. For the latter she may use F-class mutual funds or exchange-traded funds (ETFs), particularly for global equity exposure. Her first choice is ETFs. "Following behind that would be low-cost conventional mutual funds and behind that individual stocks."
By the way, the Valentines offer is still open."
posted by financeblog at
3/24/2006 11:41:00 PM
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