The president reviews his first year at the helm of the Canadian leader
This article was produced in partnership with Croesus.
One year after his arrival at the helm of Croesus, Vincent Fraser is breathing new life into the Canadian leader in wealth management solutions. Mandated to accelerate growth, the new president clearly states his strategy: to place performance at the center of wealth management firms, professionals and investors.
This first year under Mr. Fraser's leadership marked a turning point for the company. By focusing on performance, reorganizing its operations and reaffirming its commitment to its clients, Croesus aims to increase its leadership role in the evolution of the wealth management industry in Canada.
"We have been busy," says Fraser. During this first year, we laid the foundations for the performance culture that will characterize Croesus from now on. »
Performance at the heart of success
This strategic focus on performance is not insignificant. For Fraser, it is intrinsically linked to the success of Croesus' clients.
"We are in a business of marginal gains. Our goal is to improve the performance of our users and this will allow them to ensure the overall performance of their firm," he said.
The president of Croesus draws a parallel with the Formula 1 sector that he knows well. Just like in F1, every marginal gain improves performance. Croesus' solutions are the tools that enable wealth management teams to optimize their efficiency and perform for the benefit of investors.
"When you manage billions in assets in a high-performance way, you get additional income and profits that can be reinvested to grow and meet investors' expectations," he says.
A new chapter for Croesus
In Canada, Croesus occupies a predominant position with more than $2T in assets managed through its solutions. "Our greatest strength is unmatched in the Canadian market. It's our mastery of financial technologies, combined with the ability of our solutions to evolve with customers and meet their full range of needs," says Fraser.
"You have to invest in skills and hard data to invest where there is a significant impact for our customers and users," says Fraser. For him, this evolution requires the implementation of more reliable and predictable processes as well as increased organizational efficiency, essential levers to support the company's growth and meet market expectations.
A better-oiled mechanism
The needs of customers have always been at the heart of Croesus' development. The new vision aims to respond more adequately to the performance needs of its customers. It results in changes in the company's operations.
"In my first year, we laid the foundation for the performance culture. That is to say, we have established a strategic plan that is based on innovation and investment zones. This includes changes to the organization, management and board of directors. All this in harmony with our desire for sustainability and long-term vision," he explains.
The internal structure has been reviewed, in particular with the hiring of vice-presidents of finance and product management. This transition signals a desire to strengthen the company's expertise and strategic vision.
A fundamental transformation, according to Fraser, has been the implementation of a product management structure to get closer to the market and customers. Croesus has also multiplied by six the resources allocated to its product team over the past year.
"We're accelerating and increasing investment," Fraser said. The objective is to accelerate the modernization of existing solutions, as well as the incubation of new products that meet the performance needs of our clients and the vision of the future experience of financial advisors. »
Croesus also relies on user advisory groups, improved customer support and the evolution of its training. The WealthTech wants to offer a service that encompasses all aspects that can improve the performance of its users.
"We want to be more than just technology partners, we want to be true business partners," he says. We want to understand the reality of our customers. That's why I am personally involved in several discussions with customers where we address very strategic aspects. »
This proximity also implies better predictability of product delivery. Croesus is committed to being predictable and precise about the content of each new version, in order to allow its customers to better plan their activities.
Marked enthusiasm
The implementation of a performance culture is a source of enthusiasm at Croesus. "I feel that the employees are very engaged and mobilized. They understand our new ambitions and the goal of reaching new heights, together," says Fraser.
The echoes of the market are also enthusiastic. "Several clients have told me that they are seeing positive changes. I see a craze on the part of our clients to collaborate on new subjects. The foundation is here and now the future belongs to us," says Fraser.
"Our clients can expect to see an acceleration in the coming quarters from Croesus," concludes Fraser.
