CSI survey reveals that Canadians are looking for greater range of services to manage their growing wealth

    Financial advisors need to expand skill set to keep up with emerging
    population of affluent clients

    TORONTO, July 7 /CNW/ - As the number of affluent Canadian families
doubles over the next 10 years, the country's financial advisors will need to
develop new skills and add to their wealth management services to ensure they
meet the needs of this growing population segment, according to the latest
survey from CSI, Canada's financial education leader. The survey revealed that
high net worth families are looking for integrated wealth management, but only
1 out of 10 respondents feels they are receiving the services they need.
    "They want more than investment advice. They are looking for someone to
develop a strategic wealth plan that looks at all of their assets and is
designed to grow and preserve net worth through all their life stages," said
Dr. Roberta Wilton, President and CEO of CSI. "With this population segment
set to grow dramatically in the next decade, there is a real need for
financial professionals to add to their tool box, developing the skills they
need to fill this service gap."
    According to the survey, 80 per cent of affluent Canadians who use
multiple advisors could not identify a single one among them who could provide
comprehensive strategic wealth management. Strategic wealth management
services include tax consultation, family trust and holding company advice,
succession planning, post retirement income plans, and other wealth management
    "The survey shows that affluent Canadians have become more sophisticated
and their needs tend to be broader and more complex than the level of services
that are available. There is a clear opportunity for financial advisors who
are willing to fill this service gap and make inroads into this market,"
stated Dr. Wilton.
    The survey, which polled 400 affluent households across Canada, took
place in early 2008, with the objective to gauge the need for comprehensive
wealth management among this population segment.
    "Affluent Canadians told us they want a go-to person to have the holistic
financial depth to make sense of their success, and to get there takes
specialized knowledge and practice management skills," Dr. Wilton says. Last
year CSI introduced a wealth management program leading to the Chartered
Professional (Ch.P.) Strategic Wealth designation.
    "This program is specifically designed to prepare advisors for the role
of 'financial quarterback', which involves overseeing and managing a strategic
wealth plan with the support from other professionals such as lawyers,
accountants, trust specialists and estate planners," she said.
    Currently more than 250 advisors have the Ch.P. Strategic Wealth

    For more than 35 years CSI has been Canada's premier provider of
professional qualifications and compliance solutions for the financial
services industry helping more than 700,000 financial professionals reach
their career goals. CSI offers more than 120 courses ranging from the
well-known Canadian Securities Course to sophisticated accreditation programs
such as the Chartered Professional (Ch.P) Strategic Wealth designation. Valued
for its expertise in Canada, CSI also partners with organizations world wide
to provide financial services consulting and training projects in Asia,
Africa, Europe, the Middle East and the Caribbean. CSI can be found at

For further information:

For further information: Loretta Lam, Focus Communications Inc., (905)
305-0308 x 208, email: lorettal@focuscomms.com

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890