Firm: National Bank Financial
Location: Regina, SK
Year established: 2017
Employees: 5
AUM: $310 million
Target clients: Families, intergenerational
Last November, the Schneider Financial Group of National Bank Financial was recognized at WP’s Women in Wealth Management Awards as the top women-led advisory team. It was quite an honour for investment advisor and senior vice-president Donna Schneider, as it was recognition of her team’s focus on listening to clients to truly understand their needs and goals.
Schneider has been in the industry for 27 years. She began as an associate to an advisor, whom she worked with until he retired in 2017. During that time, Schneider stayed with the practice as it moved from Midland Walwyn, which was acquired by Merrill Lynch, to TD, to Wellington West, which was sold to National Bank. When the advisor retired, she decided to buy the business and continue building on the work they had established throughout the years.
“It was an easy transition because I was already connected to the clients,” Schneider says. “Those I may have known less well, I started to meet more and connect with. Our client retention was 100%.”
Since then, Schneider has grown her team to five members, including two advisors, two associates and an administrator. Before she took over the business, her daughter, Stephanie, had joined the practice as a senior administrator. Now she’s followed her mother’s footsteps and has earned her own credentials to become an advisor. “I hope that now she can work with clients through the next transition when I decide to retire,” Schneider says.
The Schneider Financial Group’s approach to working with clients aims to be all-encompassing. “We look at portfolios last,” Schneider says. “We are more focused on what is going on in people’s lives. What are their goals, what do they want to accomplish, what things might be coming up? We incorporate insurance and financial planning and make sure we have all parts looked after.”
One of the areas where Schneider feels her team members stand out is in their ability to listen to clients. “There is an emphasis on listening,” she says. “Many people who have been referred to us say they were told that we take the time to listen, ask questions and try to understand the client’s complete situation.”
This approach is something Schneider takes great pride in. “I really do empathize with each client’s situation, and I genuinely care,” she says. “I approach each client by trying to help in any way I can. I don’t always have all of the answers, but if I don’t, I will find them, because that’s the level of service I am committed to providing.”
A veteran of the industry, Schneider has watched it evolve over the years. While she says her approach hasn’t changed, one major area where she has seen changes is fee structures.
“I have always been open about how people are charged and what the underlying costs are,” she says. “One major enhancement was the evolution of fee-based platforms. At National Bank, our myWealth program provides complete fee transparency for clients and allows us the flexibility to group households together to reduce management fees for all family members. Unlike years ago, when client fees were largely hidden in embedded costs, regulatory reform and program evolution have allowed us to show clients what they pay and give them options to save.”
The myWealth platform is just one of the benefits Schneider has seen from partnering with National Bank. She also points to the support the firm offers with financial planning, insurance, CRM tools, research and managed accounts.
“It is a very open structure for clients, and the support for advisor teams is first-class,” she says. “NBF really understands what advisors need to look after clients. We wholeheartedly connect with the organizational mission to have a positive impact in clients’ lives to help them achieve their goals.”
Schneider adds that she’s been impressed with the support NBF has shown to women in the financial industry, highlighting the Young Women’s Mentorship Program, which promotes the wealth management profession to young women in business schools.
Having access to these tools has allowed Schneider to create efficiencies in her business, freeing up time to concentrate on other areas. She says one of the biggest challenges is staying on top of the ever-changing industry, but it’s something she embraces. The team prepares for external factors, such as issues impacting aging clients, to support clients and their families through all stages and life events.
Schneider is proud of the work she’s done and the impact she and her team have made in their clients’ lives. Moving forward, her goal remains the same: to help as many people achieve their goals as she can.
“I think it is an honour to do this job,” she says. “There aren’t many industries where you can be as involved in an individual’s life and make such a significant impact. I feel very blessed to have a career built on helping people.”
National Bank Financial – Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA).
