Insights & Market Outlook

How’s it going?

JBhowsitgoing

I’m often asked “How is Delisle going?”

My immediate reaction is “great!”. It is really fun to work with Andrew; we have complementary skills which means that important tasks are easily handled by one of us. For example, Andrew’s recent blog on artificial technology mentions his love of technology, a passion not shared by me but I am delighted that he is so good at it!

My next thought when asked about our progress is to compare it to other businesses I’ve started: a law practice within a large firm, and two bakeries.

When I do this comparison, I see that the common threads are (1) the essential aspect of deciding on the market’s need and (2) filling that need.

In law, the “need” I filled as the only wills and estates partner was preparing cost-effective, timely wills primarily for the demanding and busy principals of the firm’s corporate clients. I remember the early days of showing how I would fill this niche by organizing inhouse seminars and speaking with senior partners about who might want estate planning at the companies they advised.

For Prairie Girl’s downtown bakeries, the need was for “centrepiece desserts” (ie eye-catching, delicious, unique..) for the many internal and external events that our corporate customers wanted to celebrate. We filled that need through a good online shopping cart, a well-trained catering desk, and so on.

As a co-founder of Delisle, it has been really interesting to work with Andrew to understand what’s missing in the Canadian wealth management industry and to build a firm addressing that need. For several years, Andrew has been excited about an independent model that’s seen explosive growth in the United States and he’s often spoken about the possibility of bringing this model here where currently most Canadians’ wealth is held across five banks.

Over the last year, on trips to visit several highly energized and focused Registered Investment Advisor* firms in the United States, and over many interesting dinner conversations with Andrew, I’ve learned what is required to establish a similar type of advisor-owned, fiduciary standard-focused firm for Canadian high net worth and ultra high net worth individuals and families.

Our January 18th launch now behind us – special thanks for their work to Strategic Video Group  https://www.signaturevideogroup.com/ and Matte PR (https://mattepr.com/ – a new phase has begun!  Working with Andrew to share our vision, and seeing such genuine interest in Delisle, it’s been a really exciting time for us both.

* In the United States, a registered investment advisor (RIA) is a specific type of investment firm.  This particular nomenclature is unique to the U.S and is not used as a defined term by Canadian securities regulators. 

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