Darren Dalchand from Aviso on directing advisors on enhancing client relationships and efficiency with innovative investment platform
By embracing digital strategies, modern financial advisors can offer an optimal blend of expert advice, relevant and compliant information, and engaging digital communication. However, succeeding at this goes beyond merely translating traditional practices to a digital format. It involves exploring and utilizing digital platforms that are genuinely interested in the success of financial advisors and their clients, positioning advisors to make significant strides in connecting with a younger, tech-savvy demographic.
Darren Dalchand, director of national accounts at Aviso, parent company of digital wealth platform Qtrade Direct Investing (Qtrade), emphasized the platform's position as a digital tool of choice for advisors, stating, “Working with Qtrade introduces a component of efficiency in advisors' overall practice, allowing them to focus on their strengths.”
He elaborated on the importance of efficiency in managing client relationships and accounts, highlighting Qtrade as a tool that enables advisors to deliver superior financial advice while also offering an avenue for clients interested in self-directed investing.
Qtrade can act as a partner to advisors, providing them with tools to maintain high-quality service across their client base. This partnership is built on the premise that advisors can extend sound financial advice while enabling clients to explore self-directed investing through a reputable platform.
Advisor practice efficiency and enhanced service quality
The sentiment towards partnering with digital wealth platforms among advisors in Canada is increasingly positive. Despite initial hesitations about losing control over client relationships, the inclusion of digital wealth solutions has shown to enrich client experiences and asset accumulation.
Advisors note a significant improvement in their practice efficiency, allowing them to concentrate on core services that matter most to their clients. The platform allows them to prioritize their time and resources on accounts that offer the most value. This approach is grounded in the Pareto principle (the 80/20 rule), suggesting that advisors should concentrate on clients who contribute most significantly to their business.
“If you're dedicating your time to managing your practice and client relationships, particularly the day-to-day activities, it's understandable that an advisor may prefer not to allocate the majority of their time to smaller accounts,” Dalchand points out.
Qtrade distinguishes itself through its advisor-based tools and a digital referral tool specifically designed for advisors.
“Surprisingly, a considerable portion of our effort is dedicated to educating advisors on utilizing our platform's tools designed specifically for them. It might seem paradoxical at first—using a DIY digital wealth platform that clients can independently use for investing, yet we also offer tools tailored for advisors.
“Our Digital Referral Tool allows advisors to seamlessly integrate digital solutions into their practice, referring clients to our platform while maintaining their advisory role and enhancing their service offering. This approach not only modernizes their practice but also enriches the client experience.”
Fostering strategic partnerships and continuous improvement
With over 300 strategic partnerships and a steadfast investment in both platform and people, Qtrade stands as a testament to the power of collaboration and innovation. These partnerships span across mutual fund dealers, insurance platforms, and affiliate spaces, showcasing Qtrade's versatile appeal and commitment to providing comprehensive digital wealth solutions. Regular accolades as the industry's best platform, including being ranked the #1 online brokerage 28 times over the past 18 years, underscore Qtrade's excellence. Feedback from platforms like MillionDollarJourney in 2023 highlights the unmatched customer service, user-friendly applications, and a track record of innovation that sets Qtrade apart.
A vanguard of independent investing
For over two decades, Qtrade has been at the forefront of empowering Canadian investors. As one of the pioneering online brokerages in Canada, they’ve cemented a reputation as a trusted platform. This trust is not just built on robust technology but also on a deep commitment to continuous improvement and customer service. Qtrade's innovative spirit and adaptability have allowed it to thrive. By investing in its platform and promoting innovation, Qtrade has stayed ahead of the digital curve, proving that the path to success in the digital age is through continuous improvement and a commitment to excellence.
“We encourage the advisor community to view us as a tool for enhancing efficiency, fostering a partnership that enables them to continue providing top-notch financial advice.”
Want to learn more about how Qtrade can enhance your wealth offerings?
Access expert advice and further insights on how Qtrade can make a difference to your practice, by contacting Darren Dalchand.
To find out how to become a partner you can reach Darren at [email protected].
