David Hennessey was born in Newfoundland. Just like the people showcased in the Canadian hit musical “Come From Away,) inspired by the true story of how Gander, Newfoundland residents welcomed stranded airline passengers into their homes in the aftermath of the September 11 terror attacks), David learned the value of kindness and good relationships at an early age. When he was a teenager, he moved to the Annapolis Valley of Nova Scotia with his parents.
True to his core qualities of being a natural mentor and caregiver, David ended up dividing his time between teaching (Kings County School Board) and working as an emergency medical attendant (Kings County Regional Ambulance). In 1996, David joined IG Wealth Management as a Financial Consultant.
In addition to his Certified Financial Planner (CFP) designation, David has a Bachelor of Education (B.Ed.) and a Bachelor of Arts (B.A.) from Acadia University. He also holds a Coactive Professional Coaching Certification (CPCC).
His teaching and life coaching skills, coupled with his industry experience, have allowed David to realize his life purchase – to be a lighthouse that guides others through financial transformation. “I believe that coaching people to better understand what they truly want for their financial future, and then teaching them about the planning process, is an effective way to grow and preserve their wealth,” David says.
Coaching provides a deeper opportunity for introspection and allows clients to get in touch with what’s really important to them. “As a client paints a picture of his or her perfect life, I can synchronize their life purpose with every aspect of their Living Plan. I always look at six specific aspects of financial health, including the ability to manage day-to-day, securing the future, preparing for surprises, planning for major expenses, giving back, and, if relevant, evolving their business,” David explains.
Financial Health & Well-being
Typically, David’s clients are focused on preserving their hard-earned wealth rather than on taking unnecessary investment risks. Because of the high tax brackets they tend to be in, they are also interested in minimizing tax. David works with 18 global asset managers, separately managed accounts (SMA’s), and fee-based accounts to ensure clients enjoy a holistic investment experience. “As your advisor, I offer strategies and solutions for reducing tax. I also coordinate relationships with our other professionals, including lawyers, accountants and business planning specialists.”
His clients expect value and appreciate the fact that there is more than one set of eyes on their file. He works with Lauren Chaulk’s Wealth Management practice which includes Ross Elliott. They collectively bring more than 60 years of successful “boots on the ground” expertise and experience. David also has access to an in-house team of regional IG Wealth Management specialists. These include Stephen Pittman (Investors Group Securities), Insurance Planning Specialist, Ian Burgess (I.G. Insurance Services Inc.), Mortgage Planning Specialist Bonnie Hayward (I.G. Investment Management, Ltd.), and VP of Tax and Estate Planning, Jack Courtney.
Philosophy & Approach
David believes that all of your financial needs are interconnected. “My process goes deeper and broader than the approach most people have experienced with other financial advisors. I take the time to explore all of your life goals, financial aspirations, and concerns you have for yourself, and for your family, and then I provide a comprehensive analysis of your overall financial well-being,” he says.
“My approach is personalized and holistic because every decision made in one area identifies opportunities or presents challenges in another.
Only when your financial needs are truly interconnected and synchronized, can you be sure you’re getting the most out of your money and achieving true financial well-being,” the Certified Financial Planner adds.
The top three areas David focuses on include retirement, sharing wealth, and maximizing personal and business success.
• Optimizing retirement: Clients say that David facilitated greater clarity around their goals, preserved their capital, and created the tax efficient income streams they needed to fund the cost of their current and future lifestyle.
• Sharing the wealth: Creating a customized estate plan allows the client’s legacy to continue on by supporting the causes and the people he or she is passionate about, from favourite charities to family members. David can also help clients establish a foundation so that they can give back while they are alive.
• Maximizing personal/business success: David delivers comprehensive, holistic advice and coaching that goes well beyond investment management. “Most people use rates of return as the greatest measure of success but there is more to financial planning than just strong returns. I also look at how much I can grow someone’s net worth. If I can save a client thousands of dollars by using tax efficient investments or strategies relating to the effective use of a private corporation, I’ve added a lot of value beyond just growing investments.
Up Close & Personal
David currently lives in Bedford and has two adult children, Liam, and Ali. He enjoys playing piano, sailing, and life coaching. He has given back to the community by supporting the many charities IG has been involve with as well as several years in the volunteer fire service.
As a final word, David says, “I do my utmost to make sure clients achieve their financial hopes and dreams. By helping them discover what’s important to them, I help them put an IG Living Plan in place so that they and their loved ones can get the most out of their lives and retirement with the least amount of risk. I am often told that this is life changing.”
Suzen Fromstein is the author of Suits and Ladders, Ten Proven Ways to Keep Your Job Safe - with a few jokes thrown in. Suits and Ladders was an Amazon Best Selling Book in the Career Guides Category
CFP, CPCC, BA, B.Ed
Senior Financial Consultant
Investors Group Financial Services Inc
7001 Mumford Road, 200 Halifax Place
Halifax, NS B3L 4R3