Comprehensive, Integrated Financial Planning services
Innovation and forward thinking have made Canfin Financial Group an industry leader in this demanding and fast-paced industry. Canfin provides a full range of wealth management products and solutions for all facets of life. Clients (personal and commercial) enjoy custom-tailored solutions, developed specifically for them, that fit perfectly.
Founded in September 1995 by three partners and Tony Mahabir (who continues as CEO of this private corporation), the company is divided into three distinct divisions: the Wealth Preservation Unit, which is the insurance division, providing life insurance, property and casualty insurance (with Kumar Kumar as President); the Wealth Management and Distribution Unit, a fee-for-service operation that includes tax planning, estate planning and financial planning, budget and credit counselling, management consulting for businesses (with Robert Carducci as President); and the Wealth Creation Unit, responsible for increasing a client’s net worth, handling mortgages, savings and investments (with Manny DaSilva as President). Business units meet monthly to share ‘wow’ moments, best practices, benchmarks and insights.
Indeed, Canfin Financial Group is a unique organization catering to the complete needs of today’s wealth management practitioners and clients. They are pioneering a new path, providing a qualified approach to wealth solutions that begins with a comprehensive diagnostic to identify strengths and weaknesses of a client’s current situation, followed by development of a plan.
Canfin provides its advisors with a full suite of products and a detailed process to follow, with full support and encouragement. Clients are offered convenient and flexible options: some clients prefer a fee-for-service relationship; some prefer a fee-based arrangement, and others prefer the more conventional, commission-based alternative. “Our advice does not and should not matter, regardless of the choice,” says Tony.
A ‘service menu’ is time-triggered to guide advisors in staying in touch with each client. “Our goal is to provide a higher level of service than a client would expect, not just minimal services,”shares Tony. “We want to go above and beyond what clients would feel is comparable.” One significant component is what Tony refers to as ‘anticipatory contact’. Advisors are taught to anticipate a client’s needs and provide the right information at the right time. Advisors go that extra mile to provide unexpected but valuable advice. “We train our advisors to provide that kind of service,” says Tony, “in order to create that ‘wow’ experience.”
Currently operating throughout Ontario, British Columbia, Alberta and New Brunswick , the company has a team of over 160 administrative staff, wealth management advisors, and business consultants, and is executing on their national expansion strategy (wherever it is viable). With their corporate head office in Oakville, Ontario.
To ensure the company is in alignment and providing relevant and timely strategies, services and support to advisors, quarterly meetings are held with an executive ‘inner circle’ comprised of top advisors. “While we have an overall vision that unites each business unit,” shares Tony, “these leaders who understand the overall game plan can provide valuable insights. The process also facilitates succession planning and eliminates the ‘silo’ mentality that could be fatal.”
Frequent training programs, seminars and workshops are provided, including full-day business development seminars (twice yearly) and monthly seminars covering the most current wealth creation, preservation and management tools, products and services. Supplementing this is customized, one-on-one training, coaching and mentoring, including information on how to leverage technology to improve productivity and efficiency. The organization also has a comprehensive rewards and recognition program.
Giving back to their communities is also a focus. Each year, Canfin Financial Group takes part in a number of local community activities. Staff regularly volunteer as coaches and captains of children’s sporting events.
Canfin’s principals are passionate about what they do. They are constantly scanning the business environment, both internally and externally, to identify current and future opportunities and threats that could impact advisors’ or clients’ lives. Over the long term, goals include hiring and training wealth management advisors across Canada to transform the company into ‘the’ premier wealth management advisory organization from coast to coast.
It’s clear that the organization is raising the bar when it comes to service. “We go above and beyond value-added, niche marketing, competitive prices to address the latent needs where we can win the heart, mind and soul of a client. If we can do this, winning their trust, confidence and business is a non-issue. We enjoy bringing out the full potential of our wealth management advisors. When this happens, it’s a win, win, win all around. Most importantly, the fulfillment of building and growing something worthwhile, as well as having a positive impact on the lives of our advisors and the Canadian consumer, is so rewarding.”
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