Increasingly, advisors are drawn to an organization that affords them the flexibility to serve clients to the best of their abilities in a fast-changing, uncertain environment, says Jennifer Plenert, senior vice-president, national manager for Ontario at National Bank Financial – Wealth Management (NBFWM).
“They want a firm with an entrepreneurial spirit at the centre of its culture. That’s a key reason successful wealth advisors choose to work with us. They like a flat managerial structure where advisors can talk to top executives and have both their ideas and concerns heard.”
Being entrepreneurial in nature, National Bank gets advisors and their desire to grow their business in their own way, says Marie-Claude Brassard, vice-president of Development and Client Experience at NBFWM.
“We have a real bottom-up approach, so whatever we do is about making sure advisors have support to thrive,” says Ms. Brassard.
While NBFWM offers advisors the opportunity to run their practice like a boutique wealth firm with bespoke client services, advisors also appreciate knowing that a big-six Canadian bank, National Bank, has their back.
“This means they have access to the best-in-class industry technology and resources that only a large financial institution like National Bank can offer,” Ms. Brassard says.
This best-of-both-worlds culture is one reason why wealth advisors stay with the firm 21-plus years on average.
NBFWM is often recognized as a leading wealth advisory provider, and for the second year in a row was ranked number one for Advised Investor Satisfaction in the J.D. Power 2025 Canada Investor Satisfaction Study.
Happy clients are a result of happy advisors, notes Ms. Brassard. Advisory teams benefit from not only a large selection of investment products (including industry-leading alternatives), but also access to in-house marketing, and the ability to leverage National Bank’s leading market research and its tax, retirement, succession and estate planning experts.
Advisors also value NBFWM’s focus on helping them build their practice. That includes assistance bringing on new team members, from investment associates to dedicated financial or tax planners.
“A key piece of our teaming policy is offering new hires clear career paths, allowing advisors to attract the best talent to their practice,” Ms. Plenert explains.
This is especially beneficial for advisors’ own business succession, offering an organic solution where they can grow and nurture talent with NBFWM’s support. Professional development and funding mechanisms also facilitate retiring advisors’ exit, allowing the next generation to seamlessly take over their book of business.
The teaming process has other upsides. “A multi-generational team is a great way to serve multi-generational clients,” says Ms. Plenert.
Associate advisors, for example, often work with younger generations to help them build wealth and boost their financial literacy. “It’s win-win for clients, new talent and advisors,” adds Ms. Brassard.
A flexible householding policy is a further aid in serving multi-generational families. “This gives younger investors who are just starting out the ability to benefit from lower fees than they would investing on their own,” Ms. Plenert says.
Underpinning it all is industry-leading technology, and support and training to incorporate it quickly and efficiently. One recent example has been implementing an artificial intelligence tool that has created efficiencies for advisor teams, such as reducing the time involved with notetaking in client meetings.
Yet no change is made without advisors’ input. NBFWM’s advisor and associate-led councils also meet regularly to provide guidance on all corporate initiatives.
“It’s a continuous feedback loop,” says Ms. Plenert. “Advisors are the CEOs of their business, and we want to give them the tools and support so they, and more importantly their clients succeed.”
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Read this article, intially published on theglobeandmail.com.