Financial services traditionally has been built on relationships. But the foundation is shifting, says Bob Owens, CEO of Owens MacFadyen Group in Saint John, N.B.

“Young people will have to be a little smarter and more worldly,” he says. “Relationships will matter less than value. It might be just as important to belong to a book club as a golf club.”

Clients are demanding this change in approach. “Your ability to give intelligent advice to clients is going to be absolutely critical, and it is going to have to be more global,” Owens says.

“Clients will want advice in all kinds of areas — how to manage their finances and how to manage their lives,” he adds.

— DONALEE MOULTON