TPC Financial Group has been recognized as one of the leading advisory firms in Canada by being listed in the 2017 edition of Wealth Professional Canada's Outstanding Advisory Teams
Victoria, BC
Established: 1991
Number of employees: 12
Target clients: Professionals across Canada (primarily physicians and dentists)
In operation since 1991, TPC Financial Group has evolved as an advisory firm over time. At the outset, selling insurance was its primary focus, but this eventually morphed into a complete financial planning model.
“What changed was that we were coming across many professionals who had been sold insurance, and they did not have a need or were in no position to afford that specific policy,” says Adam Neal, an advisor with the firm.
Selling consumers products they don’t actually need might provide short-term results, but it’s not the way to build a business that lasts. TPC Financial observed an industry where the best interests of consumers were not being served, so it made putting clients’ needs first its primary objective.
“Our office provides flat-fee planning for clients in all stages of their careers,” Neal says. “We address estate issues, corporate structuring, tax planning, asset allocation, risk management, budgeting, business purchases and much more. Our flat-fee model ensures that there is no question of bias with our recommendations.”
That approach has proven fruitful, and TPC Financial has developed a reputation as one of the leading advisory firms in British Columbia. Today, technological advancements have broadened its reach way beyond BC.
“With our location on the West Coast, we can have a meeting with a physician in Ontario who has finished a shift at 7 p.m. while we are still in the office during normal working hours,” Neal says. “This is something our clients enjoy, since they don’t have to take time away from work or wait in traffic to meet their advisor.”
In terms of back-office systems, TPC has embraced the digital age. “Our office has gone paperless for the majority of our processes,” Neal says. “This saves the environment and also allows for greater access to information, as we can index our files and search for specific documents without having to filter through large physical files. This substantially increases our efficiency.”
Contrary to the popular belief that overreaching regulators are making financial advice less efficient, Neal believes compliance is a plus for firms that are already completely transparent. “With our unique value proposition that addresses all aspects of their personal and corporate finances and our flat-fee transparency,” he says, “clients know exactly what they are getting and what they are receiving for their fee.”
Established: 1991
Number of employees: 12
Target clients: Professionals across Canada (primarily physicians and dentists)
In operation since 1991, TPC Financial Group has evolved as an advisory firm over time. At the outset, selling insurance was its primary focus, but this eventually morphed into a complete financial planning model.
“What changed was that we were coming across many professionals who had been sold insurance, and they did not have a need or were in no position to afford that specific policy,” says Adam Neal, an advisor with the firm.
Selling consumers products they don’t actually need might provide short-term results, but it’s not the way to build a business that lasts. TPC Financial observed an industry where the best interests of consumers were not being served, so it made putting clients’ needs first its primary objective.
“Our office provides flat-fee planning for clients in all stages of their careers,” Neal says. “We address estate issues, corporate structuring, tax planning, asset allocation, risk management, budgeting, business purchases and much more. Our flat-fee model ensures that there is no question of bias with our recommendations.”
That approach has proven fruitful, and TPC Financial has developed a reputation as one of the leading advisory firms in British Columbia. Today, technological advancements have broadened its reach way beyond BC.
“With our location on the West Coast, we can have a meeting with a physician in Ontario who has finished a shift at 7 p.m. while we are still in the office during normal working hours,” Neal says. “This is something our clients enjoy, since they don’t have to take time away from work or wait in traffic to meet their advisor.”
In terms of back-office systems, TPC has embraced the digital age. “Our office has gone paperless for the majority of our processes,” Neal says. “This saves the environment and also allows for greater access to information, as we can index our files and search for specific documents without having to filter through large physical files. This substantially increases our efficiency.”
Contrary to the popular belief that overreaching regulators are making financial advice less efficient, Neal believes compliance is a plus for firms that are already completely transparent. “With our unique value proposition that addresses all aspects of their personal and corporate finances and our flat-fee transparency,” he says, “clients know exactly what they are getting and what they are receiving for their fee.”
WPC: What are the benefits of working with a team rather than operating a solo practice?
Adam Neal: When operating as a team, you have the resources to call on multiple backgrounds and experiences to provide assistance to a client. A team also acts as a sounding board for internal discussion within an office. In a solo practice, it can be difficult to keep new legislation in context with ongoing recommendations and strategies, but with many different minds coming together to reach a common goal, you stand a greater chance of success in achieving the desired outcome.
WPC: Do you expect to add more employees in the next year?
AN: Yes, we expect to bring on two or three additional advisors before the end of 2017 in order to help with our substantial growth over the last few months. With the new CRM2 disclosure requirements, many people are questioning the value they are receiving from their current advisors. With the ability to provide meaningful value through proven results, we are sticking by our results, and our clients are telling their friends.
Adam Neal: When operating as a team, you have the resources to call on multiple backgrounds and experiences to provide assistance to a client. A team also acts as a sounding board for internal discussion within an office. In a solo practice, it can be difficult to keep new legislation in context with ongoing recommendations and strategies, but with many different minds coming together to reach a common goal, you stand a greater chance of success in achieving the desired outcome.
WPC: Do you expect to add more employees in the next year?
AN: Yes, we expect to bring on two or three additional advisors before the end of 2017 in order to help with our substantial growth over the last few months. With the new CRM2 disclosure requirements, many people are questioning the value they are receiving from their current advisors. With the ability to provide meaningful value through proven results, we are sticking by our results, and our clients are telling their friends.
