Vancouver-based Canaccord Genuity Wealth Management (Canada) and the asset-management arm of Zurich-based Credit Suisse Group AG have entered into a strategic partnership that will provide financial advisors with Canaccord Genuity Wealth Management with new tools and exclusive access to some of Credit Suisse’s proprietary investment products.
The partnership will provide Canaccord Genuity Group Inc.’s wealth-management division with more resources to maintain its commitment to globally diversified portfolios and unique strategies that will differentiate its advisors from those at other firms, says Stuart Raftus, president of Canaccord Genuity Wealth Management (Canada).
“Many investment solutions at the banks and some of our competitors are very commoditized, sort of a ‘one size fits all’ offering that fits quite well in mass affluent or mass market environment,” he says. “But when you’re competing in the high net-worth or ultra high net-worth marketplace, your solutions need to be tailored and very bespoke for each individual client. You want to walk away with a very specific client experience so this partnership really leverages our existing capabilities to take it to the next step.”
Advisors with Canaccord Genuity Wealth Managment will be able to count a new portfolio management tool licensed by Credit Suisse Asset Management (CSAM) among their tools. The Portfolio Navigator tool will allow advisors to evaluate their clients’ unique risks and objectives to create custom investment portfolios to suit individual needs, according to the announcement.
The tool is a mobile app that advisors can use while in conversation with their clients, who can follow along with the advisor as he or she inputs the required information and tries out different global investment scenarios to build the customized portfolio, Raftus explains.
“The interactive nature of the [tool] and the technological approach to it makes it quite unique,” he says. “I have not seen anything like it.”
Advisors will also be able to offer products exclusively belonging to CSAM’s Capital Discipline Strategies group. These products invest in companies with sustainable dividends and are designed to provide income growth and capital appreciation with lower risk than the broader equity market. The Capital Discipline Strategies products that are now available through Canaccord Genuity Wealth Management have outperformed their respective benchmarks since their inception dates, the announcement states.
CSAM’s educational resources will also be available to advisors. Whether it’s a webinar or an event at CSAM’s New York offices, Canaccord Genuity Wealth Management advisors may find themselves learning more about specific products or developing the appropriate investment strategies for niche client groups from the asset management firm, says Raftus.
The arrangement will also benefit Credit Suisse, which is looking to grow its business in Canada.
“This is an important relationship for Credit Suisse as we continue our focus on growing our Canadian business,” says Ron Lloyd, CEO of Credit Suisse for Canada, in a statement. “Canaccord Genuity Wealth Management can leverage our additional global expertise while we benefit from the reach and quality that they provide through their domestic advisory network. It’s a win-win for both partners.”
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