Shiraz Ahmed worked hard to build a career in wealth management, and now he has his sights set on furthering his purpose-built business
Growing up as the son of an immigrant in Winnipeg, Shiraz Ahmed didn’t come from a family of means. Still, he learned the importance of hard work early and was able to use that to further his goal of becoming an advisor. Now, as a financial advisor and associate portfolio manager at Sartorial Wealth at Raymond James, he’s continuing to work hard to keep building his practice.
“In high school, I read a couple books that drew me to the industry,” Ahmed says. “I was originally studying to be a doctor but realized it wasn’t the fit. So I pivoted and went into finance. I transferred from the University of Manitoba to Ryerson.”
After making the decision to move to Toronto in 2003, Ahmed was hired as an assistant to an advisor at TD Waterhouse. After a couple years, he made the switch to wholesaling, where he spent 11 years. It was an experience that provided considerable value, as Ahmed saw more than 1,500 advisors and was able to pick up what the best were doing. Taking all that he had learned, he put the final piece of his plan in place in 2013 when he started his practice with Raymond James.
“I knew at an early age I wanted to be a wealth advisor,” Ahmed says. “I have no desire to do anything else, which I think is unique.”
Now that his business is established, Ahmed is looking to make it as versatile as it can be. “I wanted to build a business that was as future-proof as possible, was modern and current,” he says. “That led me down my path, licensed in insurance and a discretionary portfolio manager in Canada and the US. We try to do good, clean work and run a true wealth management practice, looking at all facets of people’s financial lives.”
Ahmed describes his approach as all-encompassing. He got into the industry at a time when advisors were beginning to transition from traditional stockbrokers to wealth managers. He says he was fortunate to have good mentors along the way to guide him.
“I wanted to make sure it wasn’t just about the investments,” he says. “That is one component, but the biggest value-add is we do more: financial and estate planning and understanding clients’ whole financial picture – identifying where they are today, where they want to be in the future and helping them get there.”
One of the specialties Ahmed has gained along the way is cross-border wealth management. It’s a signature at Raymond James, but for him, it was much more personal.
“I come from a cross-border family – my siblings live in the US, and we had a brilliant idea to co-own assets,” he explains. “There are so many elements to it – I had to learn them the hard way, but when I became a professional, it became interesting and fun for me. Now I am well equipped to handle the more complicated scenarios.”
The unique ability to offer cross-border management is something Ahmed believes has helped his business. He says he has three distinct groups of clients: domestic Canadian, domestic American and those who have money or family on both sides of the border.
“As one of a select group of cross-border advisors in North America, having that skill set sets us apart,” Ahmed says. “We have the capability to help people, regardless of where they physically reside.”
The cross-border element is one of the reasons Ahmed enjoys being with Raymond James. The firm’s status as the largest independent money manager in Canada and one of the largest in the world is another, as it gives him access to a wealth of resources. Still, he has the freedom to create a boutique feel and run his practice the way he sees fit, within regulation, using all of his skills.
As he looks toward several more decades in wealth management, Ahmed says his goals include “building a bigger team, staying ahead of the curve and continuing to innovate. I want to do more on social media and other platforms. Many of these are things that other advisors don’t do, but I’d like to continue to reinvent myself.”
