Denzil Feinberg has been a financial advisor for decades but, as an almost non-stop globetrotter, he could probably moonlight as a travel agent or host his own on-the-road reality-TV show.

Licensed by the Mutual Fund Dealers Association of Canada to practice in all provinces, Feinberg works with — and visits — clients across Canada, stretching from Halifax to Whitehorse, as well as several overseas.

An Assante Financial Manage-
ment Ltd. advisor, Feinberg spent the first 29 years of his life in his native South Africa, three years in West Germany and one in both London and Israel before settling in Winnipeg. One reason for his geographically scattered client base is that Feinberg began his career in West Germany, where, from 1974 to 1977, he focused on members of the Canadian Forces. These clients have subsequently been spread out all over the world, either to their home cities or to new postings.

Feinberg, 66, practised in Winni-peg for 29 years before pulling up stakes in August 2006 and moving to Ottawa — an admittedly unusual move for somebody in the financial services business.

Feinberg says he thought it was time for a change. So, he opened an Ottawa office seven floors below the apartment he shares with his partner, June Wells. And he rejigged his Winnipeg operations — which account for roughly half of his total client base — into a satellite office.

Why Ottawa? “It has a small-city feel and it’s close to Quebec, the U.S. and Toronto,” Feinberg says. “I just felt a change to another city was important for us. June felt the same way. We don’t have children or family here, and we’re used to travelling.”

Nonetheless, Feinberg still has feelings for “the ’Peg” — and he works hard at maintaining the connection. “I was very comfortable in Winnipeg,” he says. “I love coming back. There are so many people that I know and miss there.”

Now, Feinberg spends a week or two in Winnipeg every two months and one to three days in each of Calgary, Edmonton, Vancouver, Dartmouth, Victoria and White-horse. And from his Ottawa base, he also drives down to see clients in Toronto and London, Ont. Once every three years, he goes offshore to meet with Canadian clients in South Africa, Scotland and Germany.

Feinberg says the service to his Winnipeg clients hasn’t suffered since he traded in his 204 area code for 613. “By keeping an office [in Winnipeg],” he says, “they knew that I’d have a constant presence. I don’t think I’ll ever give that up. I’ve kept in good touch with them, just the same as if I’d been there.”

In fact, Feinberg believes his visitation rate to Winnipeg is probably greater since he moved away because he structures his time during his returns for maximum face time with clients: “If I was [in Winnipeg] all the time, people would say, ‘I’ll see you in three weeks’ or ‘I’ll drop by.’ But when I come for my week or two, some people see me more than they did [before I moved].”
@page_break@Feinberg is also in constant contact with his clients by email. And by having a “voice over Internet protocol” phone, he can talk to clients all over the world without racking up massive long-distance bills.

Feinberg provides a full range of services, including the sale of mutual funds; critical illness, disability, life and long-term care insurance; guaranteed investment certificates; and principal-protected notes. He also provides tax advice, particularly for clients who move across international borders.

He does not, however, deal in equities. “It’s far too complicated,” says Feinberg, a certified financial planner. “You have to change from the MFDA to the [Investment Industry Regulatory Organization of Canada] system. I find it’s too restrictive. Assante has several outlets [to which] I can refer clients, [and] they can get licensed advice [on stocks]. I get copies of the information, so it’s not as if I’m giving [other advisors] the client.”

Feinberg estimates it costs him about $8,000 a year to maintain his Winnipeg office, including rent and utilities, and he’s probably spending another $1,000-$1,500 on about eight return flights per year. (He books those using frequent-flyer points, so he has to pay only the taxes.) He considers the satellite office’s costs a completely worthwhile investment. “I’m very close to my clients. So far,” he says with a laugh, “they still want me to visit them.”

Feinberg says he has about 300 clients and a $25-million book, but he has frequent contact with only about 150 to 200 clients. He takes on new clients by referral, but not on a full-time basis. Instead, he provides consulting services on investments, insurance or major decisions, such as moving or buying a car, for $150 an hour: “I’m available, like a bank is, for a second opinion.”

As with many advisors, Feinberg is looking to cull the herd a little, particularly those clients for whom he works sporadically. But before a client moves on, both he and the client meet with an advi-sor Feinberg thinks would suit: “I’m not going to sell my book. But I will selectively transfer individual clients to matching advisors across the country where there would be a better fit. I’d rather do a good job with a few than so-so with many.”

In his spare time, Feinberg is an active member of Rotary Club International, a network of volunteer business and community leaders who work in their communities and raise funds. Bottle-collection drives, golf days and lobster dinners are some of Feinberg’s endeavours, with much of the money collected being donated to developing countries.

Feinberg also loves to go white-water kayaking. There are two ideal spots in Ottawa, he says, one for slalom and the other for traditional kayaking. “There’s probably not another city in North America where you can do that within the city,” he says. “Some people go all year-round.”

Another of Feinberg’s favourite activities in Ottawa is riding his bicycle to meet clients. “Ottawa is quite good with bike trails and bike lanes,” he says. “As long as it’s not cold or snowing, I use a bike.”

Feinberg also is a member of the Hash House Harriers, which he describes as “a club for drinkers with a running problem.” Some of its members did very little running before they joined the group but, over time, have developed into full-scale marathoners.

“It’s a social club,” he says, “but you get good exercise out of it.” IE