Brandon Yanchus learned the value of proper planning from his parents. “I learned good money habits and developed an appreciation for the value of financial advice. This likely occurred because I accompanied my parents on their appointments with their financial advisor,” the CERTIFIED FINANCIAL PLANNING PROFESSIONAL (CFP® ) says.
Brandon has deep roots in the community and has lived in Guelph all his life. “I understand clients from the Guelph area. We really do share the same mindset,” he adds. Brandon joined IG Wealth Management right after graduating from the University of Guelph in 2013 – he met the man who was to become his future mentor and fellow IG advisor at a job fair.
The Importance of Having the Right Financial Plan
In his best-selling book, The Wealthy Barber, among other things, author David Chilton advised investors to, “Pay yourself first and keep your plan simple.” Brandon believes Chilton’s advice is just as relevant today as it was when the internationally best-selling book was first released in 1989.
In fact, he not only follows many of Chilton’s concepts, he encourages clients to do the same. These wealth strategies include paying oneself first, saving 20% of one’s income, living below one’s means, and owning quality companies in one’s portfolio.
The Client’s goals set the destination and the financial plan provides the script. “Sadly, it is the ‘start’ that stops many people when it comes to building their wealth. I encourage clients to produce, direct, and star in their own financial movie which I customize to reflect THEIR goals and THEIR values,” Brandon says.
“I see my role like that of a film director who is in charge of pre-production, production and post-production of the film. It is my job to help professionals, retirees, and business owners build, manage and protect their wealth and to ensure that every component in their movies runs smoothly.”
“I’m often asked, ‘Will I have enough money to….or for…’ Part of my directorial responsibilities is to identify the strategies that will allow the client to have enough money to do whatever they want or need it to do, whether it’s saving for retirement at age 55, paying off their mortgage in ten years, or funding their kids’ post-secondary education.”
Keeping It Simple
“Many of us are uncomfortable talking about money and it’s almost seen as taboo to discuss it openly in our society.” This is in addition to the fact that the financial services industry can appear overly complicated for most Canadians.”
“Clients tell me that I reduce the intimidation factor and more importantly, alleviate the stress of the unknown. My education and my experience allow me to provide the best possible tax and investment management advice. And, with legal, tax, and estate planning specialists I have on my team I have the ability to ensure every component of clients’ lives are addressed.”
Brandon also encourages clients to think of their financial plans the same way an entrepreneur thinks about a small business and of him as their personal CFO. According to https://big4accountingfirms.org/roleof-a-cfo/, the CFO is the financial strategist of the company. “Nobody knows the company’s financial performance better than the CFO. Like a movie director, the CFO plans everything from cash flow to company strategies.”
“Clients also appreciate that I simplify and demystify things for them. This is important because I have found that the most successful investors are very comfortable talking about money. I am always asking myself how I can add more value to clients’ lives and do everything in my power to create a trusting environment that encourages open and honest dialogue,” he explains.
“Clients will attest that I am willing to be there in the good and bad times, like death, disability or job loss. I am also prepared to initiate what some people call crucial conversations about death, disability, and outliving your money.”
The Greying of the Financial Advice Industry
In an article titled, “Are wealth managers really facing a shortage of financial advisers?” published in efinancialcareers, journalist Dan Butcher notes, “…U.S. advisers’ average age was close to 60 as of last year, with 43% more than 55-years-old and a mere 11% younger than 35, according to research firm Cerulli Associates.”
Brandon turns 30 this year - less than 5% of advisors in Canada are aged 30 or less. “I believe my age is a huge advantage, because it allows me to be there for the client’s entire life as well as a large percentage of their children’s and grandchildren’s lives. I am often called upon to educate multiple generations about good spending habits, the responsible use of credit, and how to effectively build wealth in a simple way.”
As part of his commitment to life-long learning, Brandon achieved his CFP® designation to better serve his clients with more in-depth tax and investment strategies. The CFP® is the industry gold standard.
Certificants have demonstrated they have the knowledge, skills, experience and ethics to examine their clients’ ENTIRE financial picture. To maintain certification, CFP® professionals must keep their knowledge and skills current by completing Continuing Education courses every year.
Certificants must also adhere to FP Canada Standards of Professional Responsibility, including a Code of Ethics which mandates that CFP® professionals must always place their clients’ interests first. FP Canada vigilantly enforces these standards.
Brandon also received his Registered Retirement Consultant designation from the Canadian Institute of Financial Planning around the same time. The CIFP Registered Retirement Consultant® is a unique and specialized educational offering that focuses on retirement planning, estate planning, wealth management and taxation during retirement.
Brandon regularly hosts educational workshops on tax planning strategies for retirees and business owners as well as multi-generational wealth planning. If you are interested in learning more or participating in an upcoming workshop, simply email him - Brandon.Yanchus@investorsgroup.com.
Up Close and Personal
Brandon was the President of his Rotary Club last year. He and his life partner, Tricia, a digital marketing professional, love to travel and enjoy food and wine from different countries. The couple believes in having a healthy lifestyle and are committed to maintaining a high level of physical fitness in the gym.
As a last word Brandon says, “Warren Buffet said that someone is sitting in the shade today because someone planted a tree a long time ago. Everyone wants instantaneous results but that’s not how you build wealth. I not only preach patience, planning ahead, and setting clear goals, I practice what I preach.”
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
Brandon Yanchus, CFP, RRC Financial Consultant
Investors Group Financial Services Inc
649 Scottsdale Drive, Suite 401
Guelph, On. N1G 4T7
519 836 6320 ext. 4278