Back on his father’s team

Today, Silicz, 31, is an investment advisor with National Bank Financial Ltd.‘s (NBF) wealth-management division in Winnipeg, where he is a member of his father’s team.

Yet, despite that early start in the advisory business, Silicz pursued other career paths before returning to the financial services sector.

Silicz attended the University of Manitoba, from which he earned a bachelor of arts (honours) degree, a master’s degree in political studies, a bachelor of laws degree and a master’s degree in public administration. He also served as comment editor for the Manitoban, the university’s student newspaper.

After university, Silicz worked as a lawyer at a downtown Winnipeg law firm for a few years before joining the provincial government’s justice department as an analyst. There, he was involved with drafting legislation for the Provincial Offenses Act, which covers matters such as speeding tickets.

“I had learned all I could in government,” Silicz says. “[Becoming an advisor] was an opportunity I couldn’t turn down. I took the plunge and couldn’t be happier.

“We always talked [about the financial services business] at the dinner table,” he adds. “It’s interesting, dynamic and moves a lot faster than justice and public policy.”

Silicz joined NBF last year, working alongside his father – who worked for Wellington West Capital Inc. before it was acquired by NBF in 2011 – and fellow advisor Charlene Birdsall. Michael’s primary role is to engage the next generation of the team’s client base.

Silicz admits that his father’s position helped him, the son, enter the business and that his father’s influence is strong.

“He’s my mentor,” Michael says. “It’s such an advantage to have a mentor. Together, he and Charlene have more than 60 years of experience in the industry. For young people today, it’s so difficult to get established. Having somebody who can give you tips and you can look up to, that’s half the battle.”

Moving from a government office position, in which interaction with the public was a rarity, into an advisory role required a major change in Silicz’s outlook. For example, he had to get comfortable making phone calls, often to people he doesn’t know. Luckily, that didn’t take too long because he leveraged what he believed to be one of his biggest strengths: his youth.

“I’d ask if they were working with anybody and if they said yes, I’d ask when their broker is retiring. They often said, ‘In a few years.’ That’s the opportunity for young guys like me.”

When the final step in the second phase of the client relationship model (CRM2) comes into effect next year, financial advisors will be required to report to clients in detail how the advisors are compensated, among other things. Many clients are going to be taken aback and may decide to look for another broker, Silicz says. NBF is already breaking down its fees for clients so the firm can be ahead of the curve.

While Silicz’s youth can be an advantage in dealing with younger clients, he knows youth also can be a drawback; some clients may doubt his experience. But he has dealt with this issue for years, particularly when he was a lawyer.

The only way to combat those doubts, Silicz says, is to be confident and demonstrate your knowledge. “I’m excited and ready to handle this career,” he says. “I think my experience in [university] journalism, law and public policy makes me really great at this. Journalism gives me communication skills, law is connections and public policy gives me insider knowledge of taxes. I feel very lucky.”

Being one of the youngest people in the office means Silicz often is the go-to guy when others have trouble with various forms of technology, whether it’s keyboard shortcuts or retrieving a deleted email message. He doesn’t mind the interruptions.

“If you grow up with this stuff,” he says, “it’s second nature. If you didn’t, it can be tough to learn.”

Naturally, Silicz is comfortable using social media. He uses his LinkedIn profile for business, but he also is aware of the perils of social media. He knows of other professionals who have gotten into trouble for posting fraternity-party pictures on their Facebook pages or mouthing off on Twitter.

“The best piece of advice I learned as lawyer,” he says, “is that your reputation is your most valuable asset. That definitely applies in this industry, whether it’s the Internet or [what you do] after work.”

When helping clients allocate their money, Silicz is a big believer in responsible investing. Being young and adept with technology, he says, he sees investment trends that others don’t in this emerging field. “You want to invest for impact,” he says. “You’re looking for social returns in addition to financial returns.

“At one end,” he adds, “you have stocks, bonds and mutual funds. And, at the other, philanthropy and charity. Socially responsible investing is in the middle. You want good returns while screening out things like tobacco and negative companies and screening in positive companies that are socially responsible and environmentally friendly.

“Companies that are socially responsible,” he concludes,”will be better off in the future because the future will require that sort of company.”

In Silicz’s spare time, he likes to run – primarily with his wife, Alison. The couple recently completed the Winnipeg Police half-marathon, crossing the line holding hands at 1:47:30. His fastest time for such an event is 1:41.

The couple has competed in runs all over the world, including races in California, Italy and British Columbia. The Siliczes hope to run the Las Vegas half-marathon in November.

Silicz gets out in his community by attending events such as Winnipeg Chamber of Commerce luncheons and joining various running clubs.

“It’s the same principle in law,” he says. “Just go out and be yourself. When somebody needs to buy a house, hopefully a friend says, ‘I know a lawyer who can help you.’ Now, when people get an inheritance or want to know how to plan for their newborn child’s education, hopefully my name comes up. It’s a slow process.”

Once Silicz decided he was going to become a financial advisor, there really wasn’t any doubt which firm he was going to join. His impression of the Winnipeg office has only improved since Wellington West was bought by NBF, which has been named one of the world’s 20 greenest banks. And, last year, CEO Louis Vachon was named CEO of the Year by Canadian Business magazine.

“It was the opportunity to work with a firm that’s growing,” Silicz says, “that made me really want to come here.”

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