The wealth management industry is undergoing a significant transformation, shifting from the traditional model of individual advisors to a more collaborative, team-based approach. This evolution is driven by the increasing complexity of client needs, the demand for specialized expertise, and the imperative to deliver a seamless, high-touch client experience across generations. Wealth Professional’s annual Five-Star Advisory Teams list serves as a benchmark for this progress, highlighting firms that exemplify best practices and are shaping the future of financial advisory services. This year, Stenner Wealth Partners Plus, a division of CG Wealth Management, has been prominently featured, underscoring their commitment to client-centricity and innovative team dynamics.
The Imperative of Team-Based Advisory in Modern Wealth Management
In an era where financial landscapes are increasingly intricate and client expectations are constantly evolving, the concept of a solo advisor navigating every facet of a client’s financial life is becoming an anomaly. David Kitai, Senior Editor at Wealth Professional, introduced the discussion by emphasizing this paradigm shift. "Serving clients through multiple generations takes more than one talented advisor. It takes a team," Kitai stated, setting the stage for an in-depth exploration of what makes a successful advisory team.
The recognition of Stenner Wealth Partners Plus on the Five-Star Advisory Teams list is not merely an acknowledgment of past achievements but a testament to their forward-thinking strategy. The firm, led by Thane Stenner, Senior Portfolio Manager and Senior Wealth Advisor, along with five of the team’s senior leaders, represents a new vanguard in the industry, one that prioritizes comprehensive service and deep specialization.
Building a Foundation of Expertise and Collaboration
Thane Stenner articulated the fundamental rationale behind his team’s structure: "The types of clients that we deal with require and demand a high attention to detail and a high response rate." With a diverse clientele spanning across Canada, the sheer volume and complexity of client needs necessitate a robust team. "There’s only so much time in the day that we have… and in order to serve them really well, you have to have a really strong set of colleagues to really deliver the goods."
This philosophy extends to the deliberate recruitment of specialists who bring distinct skill sets to the table. Stenner Wealth Partners Plus identifies itself as an "adapter" team, a designation stemming from their financial DNA profiling. This approach allows them to offer a holistic client experience by integrating a wide array of expertise. The team boasts high levels of experience in administration, advanced portfolio management designations and training, and a proven historical performance record. A notable addition, Howard Ma, brings a background in Mergers and Acquisitions (M&A), further enriching the team’s creative capacity in wealth creation ideas. This synergy of diverse talents is precisely what clients value, creating a composite offering that is greater than the sum of its individual parts.
Navigating Cross-Border Complexity with Specialized Knowledge
One of the significant challenges in serving affluent clients today is the prevalence of cross-border interests and the intricate service requirements that accompany them. Stenner Wealth Partners Plus has strategically built its team to address this complexity head-on. Simon Jaclyn, a senior leader on the team, shared his firsthand experience: "Simon and I both worked in the United States for Morgan Stanley. We both got very familiar with a lot of the cross-border issues when it comes to tax and portfolio management and just a lot of the different products quite candidly that are available for Canadian investors."
This direct, hands-on experience in different regulatory and financial environments provides Stenner Wealth Partners Plus with a unique advantage. It allows them to move beyond theoretical knowledge of international financial matters and offer practical, efficient solutions. As Jaclyn explained, "it is a unique feature that we have as a team in that we’ve literally worked in different countries… As a group, that helps us to find more efficient solution sets for our clientele." This cross-border acumen is a critical differentiator, especially for clients with international assets, businesses, or family ties.
Pathways to Professional Growth and Enhanced Client Service
The pursuit of continuous improvement and professional development is paramount for any high-performing team. Simon Jaclyn highlighted the importance of "staying ahead on industry knowledge to enable you to advance." While continuous education coursework is considered foundational, the team also emphasizes building a robust network of professionals, both within and adjacent to the financial industry. Collaborations with experts in capital markets, tax, and accounting are crucial for structuring complex cases and fostering a mutual exchange of knowledge.
"This information gateway is… helps us to provide forward-looking and proactive advice and grow as a team at the same time," Jaclyn noted. The team actively engages in initiatives such as pursuing university-accredited programs in emerging fields like Artificial Intelligence (AI), demonstrating a commitment to staying at the forefront of innovation. Crucially, all these developmental pathways are ultimately geared towards enhancing client service: "how do these pathways help service our clients right? So how do we take these approaches and service clients well? That’s what we really focus on."
Jerome Lee, another senior member of the team, elaborated on how this team-centric approach elevates the entire advisory profession. With a background supervising over $8 billion in assets, Lee understands the multifaceted nature of financial well-being. "Life is complex. So next to physical and emotional health, our financial health is probably the most critical and interwoven into every fabric of our lives," he stated. From the intricacies of paperwork and account opening to the nuanced strategies of investment management, each aspect demands deep knowledge. Lee pointed out that their income model alone involved screening over 200 funds to select a shortlist of 30, illustrating the rigorous due diligence undertaken.
The team’s structure allows each member to excel in their area of expertise, ensuring clients receive the best from every specialist. "The team is definitely more valuable than the sum of all the parts," Lee concluded, underscoring the synergistic power of their collaborative model. This collective expertise is vital for navigating the complexities of tax, estate planning, investment, and regulatory compliance, all while providing clients with a "red carpet experience."
Overcoming the Challenges of Team Building in Wealth Management
While the benefits of an advisory team are evident, building and maintaining such a unit is far from effortless. Julia Chang, a leader within Stenner Wealth Partners Plus, acknowledged the inherent difficulties. "Building a high-performing team is never easy. In wealth management, technical and the investment knowledge is important, but it’s only one part of the equation." The more significant challenge, she explained, lies in cultivating trust, fostering a strong culture, and uniting individuals who share common values and a collective vision.
Chang outlines her leadership approach to overcoming these hurdles: "It starts with setting clear expectations. Everyone needs to understand their role, what they’re accountable for, and how they contribute to team success." She also emphasizes the importance of open communication, regular coaching, and constructive feedback to facilitate continuous growth. When team members feel supported, respected, and aligned with a shared vision, their motivation to collaborate and deliver exceptional client results is significantly amplified.
The Art of Day-to-Day Coordination and Consistency
The seamless client experience that Stenner Wealth Partners Plus provides is a direct result of meticulous day-to-day coordination. Becky Howorth detailed how the team operates behind the scenes to ensure clients perceive a unified and effortless interaction. "Most of our clients are busy entrepreneurs, executives and families with a lot going on… and making big future decisions. So day-to-day coordination really matters."
This coordination involves thorough preparation for client meetings, a deep understanding of each client’s priorities, and the strategic involvement of the right team members. Clear follow-up protocols are also essential. Furthermore, the team actively collaborates with clients’ existing advisors – accountants, lawyers, and other specialists – not to replace these relationships, but to integrate services and streamline processes for the client. The ultimate goal is to make clients feel "known, supported, and confident that things are being handled."
A core principle for Stenner Wealth Partners Plus is consistency, which is fundamental to building trust. Howorth explained, "Trust is built on the day-to-day details. And so our team really prides ourselves in being prepared, responsive, thoughtful, and actually doing what we said we were going to do." This commitment to consistent execution of even the smallest details is what underpins their success and client satisfaction.
Addressing Multi-Generational Needs Through Team Synergy
Howard Ma further elaborated on why a team-based approach is superior for serving clients across different generations. He observed that many solo practitioners tend to work with clients of a similar age demographic, leading to a potential disconnect when catering to a broader age spectrum. "I don’t think solar practitioners understand the needs of different generations," Ma stated, suggesting that a team comprised of individuals from various generations would possess a more nuanced understanding of diverse client requirements.
"Given different generations require different services, it would be harder for a solo practitioner to offer that multigenerational service," Ma added. The team approach, therefore, is not only more effective in addressing multigenerational needs but also in delivering a higher quality of service. This includes adapting to the unique financial planning, investment, and estate planning considerations that arise with intergenerational wealth transfer, a growing focus within the industry.
The Future Trajectory: A Commitment to Continuous Improvement
The Five-Star recognition serves as a powerful affirmation of Stenner Wealth Partners Plus’s strategic direction. Thane Stenner expressed immense pride in the team’s work, emphasizing their unwavering focus on client service. "We’re serving our clients. That’s our focus on a daily basis. And without great clients, we don’t have a great business." The development of their team over the past five years, particularly since Stenner and Jaclyn returned to Canada from the US, has been a source of great pride.
Stenner likened their approach to craftsmanship, where taking pride in one’s work and amplifying that dedication with a team that shares common priorities leads to exceptional outcomes. This collaborative spirit fosters continuous learning and collective striving for excellence. He also referenced the Japanese principle of "kaizen," or constant and never-ending improvement. In the realm of wealth management, especially when serving the top echelon of investors, maintaining high standards is non-negotiable.
The team actively embraces emerging technologies and trends, such as AI, to enhance their practice and benefit clients. "The last two years, as a group, we’ve leaned into AI in a big way as to how we can try to apply its usage in many different ways to our practice for the benefit of our clients." This proactive approach to learning and adaptation is critical for staying ahead of the curve in all aspects of wealth management.
As Stenner concluded, "it’s not easy. It’s not easy to do. If it was easy to do, everybody would do it." This sentiment encapsulates the dedication and strategic effort required to build and sustain a leading advisory team. The Five-Star recognition is not a destination but a catalyst, inspiring Stenner Wealth Partners Plus to continue their pursuit of excellence and redefine the client experience for years to come. Their commitment to continuous improvement, specialized expertise, and a deeply collaborative culture positions them as a model for the future of wealth management advisory services.
