Steven Switzera local financial advisor, was recently included on The Globe and Mail’s Report on Business 2022 ranking of Best in Province wealth advisors.
In partnership with SHOOK Research, The Globe and Mail list identified the most effective and successful financial advisors in each province. Advisors were ranked based on the results of quantitative and qualitative data provided during the nomination and research periods. The ranking algorithm considered qualitative metrics, such as ratings on best practices learned through in-person, virtual and telephone due diligence meetings, credentials and a review of compliance records and firm nominations; and quantitative measures, such as: client retention, industry experience, and growth rates.
Switzer was evaluated to be the 69th best wealth advisor in Alberta.
“It’s pretty rewarding in the context of being interviewed by some of your peers, and not internally, and to have them recognize that you’re trying to do your best work for your clients and to be recognized that you are doing exactly that,” said Switzer on receiving the accolade. “It reiterates that what we’re doing is the right thing for the clients. And we’re trying to be more educational to the clients in years like this. With clients understanding what they own and why they own it, we are all sleeping much better at night, and I think that’s why we’re on the list of some of the top wealth advisors. You have to adjust with the times moving forward. And too many advisors in this industry are looking behind them at previous products that worked before, that aren’t going to work moving forward into 2022 and 2023.”
In its ranking, The Globe and Mail reported the Switzer team asset values at $186M, the typical size of the firm’s household accounts to be between $220K-1.6M, and the typical net worth of relationships to be between $125K-$5M. .
Switzer says that the key to good wealth management involves forward thinking. “It’s about positioning clients into the assets that are going to continue to grow and make money and evolve over time.”
“In the world I live in I continue to see that 90-95% of the vehicles on the road utilize the energy industry and that energy will continue to be a big factor in the world. So what we want to do is find the energy companies that have high quality ESG scores to continue to try to help this world evolve through to a much cleaner environment for us — but we still have to keep our heat and our lights on. And many of the clients in Fort Saskatchewan agree with those theories. So we’re trying to align the clients with what is really happening in the world. We have a shortage of oil, and we have companies that continue to innovate and grow, and that’s what we’re trying to do to put into their portfolios.”
Switzer says that Switzer Financial Services focuses on getting cash in hand.
“We don’t need to get into crazy things that retirees don’t understand and we’re not trying to speculate for them, we’re trying to get them the cashflow that they need.”