“How’s my portfolio doing?” That was once a client’s first and most important question. Now, many are just as likely to ask about the impact of changing careers, how to finance a wedding, or whether they should lease a car or dip into their savings for it.

As clients’ expectations evolve, is your value proposition as an advisor keeping up?

Increasingly, clients want more than portfolio updates and market commentary. They’re seeking guidance that ties financial plans to personal goals, continuity of advice for their families and businesses, and experiences that show a deep understanding of their lives.

The new value equation

Clients want to know that you get their lives and dreams, and will be there to help steer them through decisions big and small. This requires advisors to rethink how they deliver and demonstrate value.

Whether clients can afford to take time off, relocate to care for an aging parent, or invest in a passion project are questions that go beyond asset allocation. And when it comes to maximizing those assets, clients are also seeking more clarity.

We’re living in an era of information overload, market uncertainties, and, for many, generational wealth transfers. People are challenged to cut through the noise and complexity. They yearn for unbiased, trusted counsel.

Leading advisors grasp that they must redefine their relevance — to become part investment manager, part holistic planner, part coach, and part confidant.

Peace of mind is the real return

Call it a shift from beating the market to meeting the moment. The critical aspect isn’t running the numbers; that’s not hard. It’s unearthing and helping clients express what matters to them. As long as clients have the right road map and flexibility to reroute, and avoid a white-knuckle ride along the way, that’s peace of mind.

What does it take to achieve that? It transcends investment returns. Clients are exposed to an endless stream of financial headlines and hot takes. Everything has one volume: loud. Advisors need to be the voice of reason and the experts who can provide context.

Technology can help, from tools that monitor portfolios or suggest rebalancing opportunities, to AI that surfaces client behaviour patterns. At Sterling, we use such technology to give advisors the data they require to act, and the insights to anticipate concerns. Other technology relieves administrative burdens, freeing hours.

Whether using technology to gain a better view or handle more paperwork, advisors have to spend more time in front of clients having meaningful conversations.

But proactive engagement doesn’t have to centre on performance reports. It can involve education sessions, a quick call, a handwritten note, and routine check-ins. Regular contact reminds clients they have someone they can count on.

At the right stage, these conversations will also involve other family members. Part of estate planning is preparing the inheritors, and ensuring legacy goals are met. Here, the advisor’s value crosses generations.

As advisors help clients plan for their future and that of the next generation, they can’t neglect their own succession plans. If you don’t have one, you’re risking not just your business but your clients’ peace of mind.

We encourage advisors to bring along associates and introduce these next-gen advisor partners early. That supports a smooth handoff and continuity. It’s also part of the value story, conveying to clients that you’ll continue to have their back with a successor.

Future-proofing for your clients and practice

As clients’ needs and demographics transform, the advisors who succeed will be the ones who stay human and stay ahead. Personalization, in other words, stands out.

Anyone can look up the hottest funds of the day. What makes an advisor valuable is knowing how that does or doesn’t fit the client’s pathway, and showing a deep understanding — not just about the market but about what really matters to clients.

Truly knowing them, and demonstrating that you’re with them on their journey, will help to future-proof your practice and help clients secure the future they envision. In a world of noise and DIY options, advisors who show up, listen closely, and guide with purpose won’t just be valued — they’ll be indispensable.

This three-part series offers insights into what advisors can do to position themselves for success. Learn more about how Sterling Mutuals Inc. can help you meet your clients’ needs and help you plan for the future.

Advisors are in a better position to succeed when they can spend as much time as possible servicing their clients. Technology can remove some of the administrative burden. But the right tools can also help advisors make the most of their client-facing time.

What if you could not only have greater insight than ever into your clients’ needs and wants, but also anticipate them? Artificial intelligence (AI) and data analytics are making it possible, and when used in tandem with your professional expertise, that’s a powerful combination.

Integrating AI into Canada’s financial advisory sector is transformative. Balancing technological innovation with data integrity, security, and regulatory compliance is essential — so is understanding how to leverage AI’s potential.

Sterling Mutuals has been an early adopter of many technology solutions because we know how these solutions enable advisors to do their jobs even better. Recently, that has included AI capabilities. Here are five considerations for making the most of such tools.

1. Focus on where AI can fill some knowledge gaps

You may know a great deal about the top 20 percent of your clients, but it’s hard to know all of your clients intimately. While every client is an individual, and you want to paint as detailed a picture of them as you can, each client also tends to fall into a category.

An AI-generated report can place clients within a demographic group and observe trends based on aggregated data points. That’s useful intelligence.

If you want to glean more about client X, you can discover that couples like them tend to be at a particular point in their financial trajectory. That might indicate an opportune time for certain discussions, whether about products or decisions, and prompt topics to raise.

2. Use AI to become even more personalized

AI analysis may seem impersonal, but its insights empower you to deliver a more personalized experience. For instance, AI gives you the data norm. If you see your client is an outlier, why? Are they not telling you something that’s relevant to their financial future? Do they have other income or investments you don’t know about it?

You won’t learn the answers from AI, but you’ll have a solid starting point to ask the right questions to get to know your client even better.

3. Limit the risk of your clients leaving

Part of our AI platform is retention and engagement scoring. You’ll have cues for when you might want to be reaching out more, to provide extra hand-holding or increased communications.

The AI platform can also alert you to warning signs. For instance, why would a client who’s at non-retirement age be asking for monthly income routinely? Perhaps because you’ve misread their situation, and they may be growing unhappy with you as a result. These cues can help advisors to take a closer look at their clients’ situations.

4. Improve your overall efficiency

Any technology should free your time. AI is part of our OneBoss back-office system, our advisors never have to leave the platform. Know Your Client, document management, suitability reviews, voice notes — everything is in one place.

Advisors juggle many tasks, but there’s only so much time in the day. AI and other tech tools help you to ease your burden and maximize that time. It’s not just about the individual tools, but about how they can operate more seamlessly.

When advisors are considering changing firms, they have many questions. Here’s a great one to ask: What supports are in place — from tech to personnel — that enable me to spend less time on paperwork and number crunching and more time with my clients?

5. Have an open mind

As with any great tool, AI should be used to support you in meeting your clients’ needs. New technology can feel daunting, often leading to hesitation or even resistance. In a financial advisory setting, it’s completely understandable to believe that no machine could understand your clients as well as you do.

You do know them best. But the point is to develop an even deeper understanding of your client, in any way, so you can enhance your service and have more productive conversations.​ That serves the well-being of clients and advisors alike.

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This three-part series offers insights into what advisors can do to position themselves for success. Learn more about how Sterling Mutuals can help you meet your clients’ needs and plan for the future.

As retirement approaches for many financial professionals, succession planning becomes critical—not just for the advisor, but for their clients as well.

Canadian studies show that more than half of financial advisors are over age 55. The need for a clear exit strategy is pressing. While selling a practice to an outside buyer is an option, transitioning the business to a younger, internal successor often offers a range of clear benefits.

Bringing associates into the fold isn’t only a smart succession strategy for the long term, it can also bring immediate advantages and long-term gains for all parties.

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Give your clients peace of mind

Integrating a younger advisor into your practice provides clients with a sense of continuity and security. This is particularly important for sole proprietorships where the advisor is the only point of contact.

With a successor in place, clients can rest assured that their financial advisory relationship will continue, even after the original advisor retires.

Expand your client base

Advisors and their clients are typically close in age. In serving them, advisors often don’t focus enough on attracting a younger client base. Some advisors wait too long to address this, only to find that older clients begin depleting their assets in retirement. That can decrease the value of the practice.

A younger advisor can help attract a new generation of clients, ensuring the practice continues to grow and increase in value – and ultimately delivering higher returns for the exiting advisor.

Build long-term relationships

Attracting younger clients can include connecting with the next generation of a current client’s family. As wealth passes down through generations, the advisor-client relationship can continue seamlessly, maintaining value and deepening trust. This ensures that relationships and assets stay within the practice, safeguarding its long-term viability.

Gain fresh perspectives

Collaboration between seasoned and younger advisors can introduce new ideas. This can inject fresh energy into the practice, reinvigorate the veteran advisor, and open up innovative ways to work and serve clients.

While these four advantages are compelling, what steps should advisors take to ensure an effective and profitable transition?

That takes time. In setting the foundation for success, think about compatibility and the ability to build meaningful relationships with clients—qualities that go beyond just financials. Consider too the factors that entice advisors. Here are three things to keep in mind.

Advisors want the chance to grow

Grooming a successor requires careful attention. You need someone who aligns with your practice’s culture and can form strong client relationships. Providing mentorship is crucial.

Our industry often focuses on sales management, but true development involves coaching and guidance. Investing in mentorship programs can greatly benefit both the younger advisor and the practice as a whole.

To draw in the next generation of advisors, compensation structures must be appealing too. Sterling Mutuals offers a flat-fee model that allows advisors to control their expenses while exponentially benefiting from growth. Sterling’s advisors receive 100% of their commission, thereby receiving the maximum upside from the business they build.

This structure, combined with solid mentorship, ensures that your practice remains attractive to younger advisors looking for a path to partnership and succession.

Technology plays a role

Technology is an essential enabler for the success of any practice. At Sterling, we offer a suite of proprietary technology solutions—from workflow management to client service platforms—that help streamline operations.

These tools not only save time but allow advisors to focus more on what matters most: their clients. The right technology can make your practice more efficient and appealing to potential successors.

Succession planning is a journey, not an event

Succession planning doesn’t happen overnight. It’s a process that requires foresight, careful planning, and a commitment to the future. Just as advisors expertly guide their clients through retirement planning, they must do the same for their own transitions and proactively prepare for what’s next.

Advocating for younger advisors and helping them succeed isn’t just good for them; it’s good for your clients, your practice, and the health of our entire industry. By aligning yourself with the next generation, you’ll help ensure a smooth transition and set up your practice for continued success long after you’ve retired.

This three-part series offers insights into what advisors can do to position themselves for success. Learn more about how Sterling Mutuals can help you meet your clients’ needs and plan for the future.