Driven by a vision to be Canada's best independent mutual fund dealer, Carte Wealth Management forges a new collaboration with Rapport Credit Union
It’s no small feat to be recognized as the top independent dealer in Canada for one year, let alone three consecutive years. But with consistent professionalism and passion for service, Carte Wealth Management has managed to achieve just that.
“We’re very fortunate to have advisors who speak highly of us,” says Maria Jose Flores, Chief Compliance Officer at Carte Wealth Management. “Each year that we’re recognized raises the bar of expectation, and we strive to exceed it every time.”
According to Flores, Carte’s driving vision is to be the number one choice out of all Canada’s mutual fund dealers on three fronts: technology, experience, and freedom. That commitment shines through in all the firm’s endeavours, including a new partnership it has forged with Rapport Credit Union, a member-owned financial institution in Ontario offering a full range of banking services.
“Credit unions do a lot to support Canadian households. By offering savings accounts, loans, and other financial services, they support the everyday needs of many consumers,” Flores says. “For those credit unions that expand to include a wealth division, that’s when a firm like us can get involved.”
“When we made the decision to go to Carte, we were 110% behind it,” said Kim Leak, CEO at Rapport Credit Union. “We knew that they not only had the technology, but they also had the advisor support we were looking for.”
Carte was an early adopter of technology; even before the pandemic, Flores says the firm had already put electronic signatures and digital account transaction processes in place one year earlier. By opening those types of capabilities to Rapport, the partnership has not just freed up valuable time for its advisors, but also unlocked new ways for members to take control of their financial future.
“Our members now have the ability to actually do transactions and interact with their portfolio, which is critical in this digital world,” Leak says. “We’ve had people asking for a more digital experience, so it really has removed that frustration.”
While it has a strong technological focus, Carte also makes sure to not lose sight of the human element. From training to administration and compliance, Flores says the firm draws on its depth of experience to anticipate issues wherever possible, and adjust to speed bumps that may crop up along the way.
“We’ve been updating our advisors on changes happening in the industry, including the recent client-focused reforms,” she says. “For me, it’s so important to call our partner firms and ask what they need, because at the end of the day this is a relationship business: just as advisors build trust with clients, we do the same with our partners.”
As an independent dealer, Carte is also able to give Rapport access to a wide diversity of mutual fund companies. From that universe of choice, the credit union can select the most suitable investment offerings for its members, including mutual funds, ETFs, and ESG products, which Leak says have been gaining interest within Rapport’s network.
“We don't force advisors to choose one versus the other. We leave it up to them,” Flores says. “They make the decision based on their clients’ profile and circumstances.”
“Our staff can't say enough about how positive the transition has been, and how much they're looking forward to continue the relationship with Carte,” Leak says. “They just think it really has enhanced what they do as advisors, as well as their relationships with our members.”
