PAID CONTENT
Jackie Porter decided a long time ago that access to a comprehensive product shelf, without pressure to sell one thing over another, would give her a competitive advantage and allow her to build a successful financial planning practice.
“Clients really like to work with people who they feel are offering them unbiased advice that’s not linked to quotas,” says Porter, a financial planner with Carte Wealth Management Inc. in Mississauga, Ont. “I have access to the top investment companies that are in the marketplace [and] I can actually do what I tell clients I do, which is be a fiduciary, work in their best interests [and] offer them investments that are competitive in fees.”
Since Porter joined Carte in 2007, she has appreciated the depth and breadth of the firm’s product line. She says she can compete directly with index funds, offer insurance solutions based on need, and find the best product fit for each individual client. She also likes that her firm is “nimble,” often responding with a “yes” when she suggests adding a new product or service to benefit clients.
In 16 years, her business revenue has tripled to seven figures and she’s built a team of five. She credits her ability to scale her business in part to Carte’s brand development and business coaching support. Her online presence now generates 20% of her leads, she has co-written a book, Single By Choice or Chance, and she is a sought-after speaker on financial planning topics.
“I’ve really benefited from my longstanding relationship [with Carte],” Porter says, adding, “Carte put my name forward for industry awards [including two “Female Trailblazer of the Year” awards and the 2023 “Advisor of the Year” award from Wealth Professional], and that’s really helped me to build my brand awareness even more.”
Individual strength, team spirit
A top priority for Carte’s president, Maria Jose Flores, is to recognize each advisor’s individual triumphs while cultivating a strong sense of community.
“We provide the compliance, the back office, the technology, but we want each advisor to have a very successful independent business,” she says. “We want the advisor to be the one shining in front of their clients.”
Meanwhile, the firm provides venues for advisors to share successes, challenges and strategies without treating each other as “the competition.” The result is advisors building practices supported by the best ideas of their peers.
“Advisors need to be connected with their peers, they need to be part of a community, [and] we can grow together,” says Flores.
Sean Colangelo places a high value on Carte’s “extended family” atmosphere. Since he joined as a financial planner in 2021, he’s been a regular participant in the firm’s “power group,” where deeply experienced and relatively new advisors discuss complex cases and weigh the pros and cons of potential solutions.
“Everyone is welcome,” Colangelo says. “No one is scared to share concepts and ideas for fear of being outdone … We all want each other to succeed. That was one of the first special things that I noticed, probably the first week I joined.”
Supporting advisors’ success
Colangelo had considered other firms, but Carte stood out because it combines a dealership for investments and a Managing General Agency for insurance. This enhances his productivity and enables him to offer more integrated advice to clients.
He was also attracted to Carte’s state-of-the-art technology, including exceptional financial planning software, as well as the way the firm facilitates access to portfolio managers and resources like webinars to help advisors stay on top of industry developments.
Another huge boost to his efficiency, Colangelo says, is the support Carte offered to help him build an online presence and plan social media marketing initiatives. He especially appreciated the fact that he didn’t have to research and source suppliers – there was a one-stop solution ready to go.
Since joining Carte, Colangelo has won a Young Achiever Award, and he emphasizes that his client relationships have increased significantly in value.
“Carte is a cutting-edge firm. They provide you with the best tools, at your fingertips, to stay current, modern and provide the absolute best for your clients. [And] it’s a family culture that cares as much about your clients as you do, and they care as much about your clients as they care about you.”
Colangelo adds that Carte feels “like home.”
“These are people that have my best interests and my clients’ best interests at heart, and they have this way of motivating us that is based on the client experience,” he explains.
“It’s been wonderful. It’s been [an environment] of supported growth and a strategic partnership … in an ever-changing landscape [to] enhance what my dream was for my practice.”
