At Spire Advisors, the deep personal connections we develop with our clients are extremely important for building trust—and these connections also help us gather the detailed information we need in order to serve their best interests.
When the world changed last year, we were restricted from meeting our clientele face-to-face. Thankfully, the close relationships we nurture allowed for a smooth transition of services rendered.
Here is an example of how a long-standing client relationship continued to work before, during, and after COVID-19 descended:
At the onset of the pandemic, Gary and Martha had been clients for 25 years. I assisted them with their taxes, tailored their financial and estate planning, and took care of their overall financial well-being for more than two decades.
Of course, during this time we grew close—and I didn’t just get to know Gary and Martha, I also enjoyed hearing all about the lives of their children, who are now adults living around the world (from Rankin Island to Vienna).
A few years ago, Gary and Martha decided to move into a retirement community/home in southern Ontario in order to be closer to their son. Regrettably, their health declined, and they had to move into the nursing arm of the facility.
I would normally travel to Gary and Martha’s retirement home and meet them in person. Due to COVID-19, these meetings were prohibited and, sadly, Martha passed away rather suddenly—leaving Gary to carry on alone.
During the months before (and after) Martha’s death, Zoom was (and is) a blessing. Although it will never be as good as an in-person meeting, it allowed us to virtually connect and I was able to “see” them both.
This was a great comfort to Martha and Gary in their twilight years (and continues to comfort many, many other clients).
After Martha left us, I was able to help Gary work through the re-registration of Martha’s holdings, her terminal tax return, and all financial matters relating to her passing. This was not easy for Gary, so we took it slowly.
Eventually, Gary’s health declined as well. When he drew closer to death, I stayed in touch more regularly. Gary joined Martha a few months ago.
Because of our close relationship over the course of many years, I had the information and intimate knowledge I needed to be able to assist their son Bob with transitioning all of Gary’s assets to his beneficiaries in a timely manner.
Furthermore, due to over two decades of carefully tailored planning, the tax implications to the estate were minimal.
As you can see, the value of the trust, confidence, and friendships we develop with our clients cannot be overstated. They serve to protect our clients’ best interests, the best interests of their families, and (as demonstrated here) have even carried us through the challenges presented by global events.
Today, we continue to be grateful for the close relationships we’re able to foster through virtual meetings, and we look forward to a time when we can meet face-to-face once again.
Senior Financial Planning Advisor
Assante Capital Management Ltd.
The case study mentioned in this video is based on an actual scenario but names and identifying details have been changed to protect the privacy of individuals. The case study is provided for illustrative purposes only to provide an example of our process and methodology. Past performance does not guarantee future results. The results portrayed in this case study are not representative of all of our clients’ experiences. Different types of investments involve varying degrees of risk, and actual results may vary materially than those portrayed herein. Therefore, it should not be assumed that the future results of any specific investment or investment strategy (including the investments and/or investment strategies recommended or undertaken in this video) will be profitable or equal the results portrayed herein. An individual’s experience may vary based on his or her individual circumstances and current/future market conditions, and there can be no assurance that any client will achieve similar results in comparable situations. The information contained herein should not be construed as personalized investment advice. Please contact us for additional information with respect to the strategies and/or investments described herein.
Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. This material is provided for general information and is subject to change without notice. Every effort has been made to compile this material from reliable sources however no warranty can be made as to its accuracy or completeness. Before acting on any of the above, please make sure to see a professional advisor for individual financial advice based on your personal circumstances.