The parents of CERTIFIED FINANCIAL PLANNER (CFP®), Andy Glavac, came to Canada in 1955 and settled in Welland, ON. “My mom was a housekeeper for a number of prominent people. Because she was very astute, she mirrored her clients, and did what they did to be financially successful, including buying income properties.”
“I like to joke that my mom was my first financial planner and a Beatles movie my first financial lesson. The year was 1964 and I was 8 years old. Although our family wasn’t destitute, we couldn’t afford many additional luxuries. My mother suggested I pick the peaches off of the trees in the backyard and then sell them to get the money to go to the Beatles movie. With gross sales of fifty cents, my first backyard business was a success. As the family CFO, Mom held onto 25 cents of my peach sales. That left 5 cents to spend at the movies. I put 10 cents in my piggy bank for long term savings. Another 10 cents went to popcorn,” Andy says with a smile.
Andy followed a direct route to a financial consulting career. His first “real” job was in retail. He worked his way up, transitioned into sales, and when he reached the glass ceiling, returned to his first love – finance! That was 33 years ago.
People, Plan, Process – The 3 P’s
For Andy, it all begins with People. Chaim Potok, author of Davita’s Harp, says, “…Everything has a past. Everything – a person, an object, a word, everything. If you don’t know the past, you can’t understand the present and plan properly for the future.”
Andy wants to know your story. At the first meeting with Andy, the only thing he has in front of him is a blank piece of paper. His first question is always the same, “What does money mean to you?” His follow-up questions are just as thoughtprovoking, and include, “What’s the best and the worst investment you ever made? If he is meeting with a couple, Andy asks both parties these questions - just because people are married, doesn’t mean they think of money or priorities in exactly the same way.
“I have to understand where you’ve been, before I can take you where you want to go. If you want to improve your physical health, you might hire a personal trainer. But, if your trainer didn’t know that you had a bad knee and couldn’t do squats then an exercise program that includes squats wouldn’t be appropriate for your specific situation. You can’t customize an appropriate exercise program, without understanding someone’s health history, goals, priorities, and challenges. Talking to someone about their financial goals and dreams is just as important. I believe that the IG Living Plan can be customized to anyone’s financial needs and goals. Much like a toolbox that contains specific tools so is the IG Living Plan. The tools are readily available all we have to do is make use of them.
Andy helps clients plan a path to achieve their short, medium, and long-term personal, business, financial, and lifestyle goals. Educating clients about their options is always top of mind. Many clients are entrepreneurs and professionals, and like Andy, run their own family businesses. Long-term clients, entrepreneurs Steve & Joanne Quinn of Quinn Automotive Group say, “…We have been working with Andy and his team for over 30 years now. A seasoned veteran of the wealth management industry, Andy and everyone he works with have always had our best interests in mind. He treats our money like it is his own!...He’s got a great eye for “what’s coming down the road” and that’s important to us. We fully support his move to IG Wealth which will give us greater investment options, family pooling to lower our costs, and a look inside the IG Living Plan.”
Perhaps Idowu Koyenikan, author of “Wealth for All: Living a Life of Success at the Edge of Your Ability,” says it best, “When you do the things in the present that you can see, you are shaping the future that you are yet to see.” Here’s where ongoing professional financial advice really pays off. Let’s say a client wanted to go on an extended vacation and planned on removing $10,000 from his or her TFSA to pay for the trip.
“I would ask, how did you come to the conclusion that you should take the money out of your TFSA? Have you explored other options? Maybe it is better to take the $10,000 from a non-registered which can trigger a capital loss which might be beneficial to your overall tax situation. I always look at what’s most efficient, makes the most sense, what other plans you had for the money that will no longer be available, and if you have any plans for returning the money. Failure to think of these things is what the Armchair Detective, Kelli Jae Baeli, describes as “Leaping off a precipice and trying to knit yourself a parachute on the way down.”
Your Financial Plan changes and evolves as your life changes and evolves. “My mom is 87 and living on her own. Her plan today is very different from the one she had when she was 47. My uncle has Alzheimer’s. His needs today are also very different than they were 5 years ago. These are two personal examples from my own family that demonstrate how the 3P’s help us plan for an unknown future.”
Retired professionals Pat & Connie Healy agree. “Andy and his team are very knowledgeable and understanding. Their focus on planning and portfolio construction gives us peace of mind in our retirement years. Andy and his team have a great client service standard, always accessible and reply back to us in a most timely manner. We always feel like they put our needs first and we would not hesitate to recommend the Glavac Team.”
Clients also appreciate Andy’s responsiveness and availability. According to Jeff Reuter, President, Reuter & Reilly Insurance Brokers, “Working with the Glavac Team has kept us up to date and organized for many years. We meet for regular reviews and discuss new strategies. The team is always working hard to be innovative and offer objective financial advice…”
Niagara Region IG Wealth is hosting a public Small Business Seminar TAX PLANNING FOR BUSINESS OWNERS on Tuesday February 11, 2020. If you are interested in learning more or want to attend this seminar, please email him directly at Andrew.Glavac@investorsgroup.com
Up Close & Personal
Andy is an amateur photographer as well as a CERTIFIED FINANCIAL PLANNER (CFP®), and Elder Planning Counsellor (EPC™) . These industry designations equip him to help clients manage their finances.
In addition to a dedicated team of wealth planning and retirement planning specialists, a banking team, and an insurance team, his wife, Jeanne, and his daughter, Melissa, both assist Andy in his practice.
Andy believes in giving back to the community that has been so good to him. He spent over 20 years in the Rotary Club of Welland, led the club as President in 1999-2000 and served as District Foundation chair for 3 years. During his tenure he made many impactful changes to the club including bringing back the Youth Exchange Program. Andy and his family lead by example and hosted Marcos Schmidt, a student from Brazil, for one year. Andy was honoured to receive the Presidential Citation and the very prestigious Paul Harris Award. He has also received the Dale Carnegie Leadership Award.
Andy really only has one job and that is to help clients feel confident and empowered about their financial future. As a last word, he says, “I’ve had clients I’ve known since I was their paperboy. I come from the Brian Tracy school of thought outlined in his book, The Gift of Self-Confidence, “A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power. I love my family, and my five grandkids. I also love coming to work every day and having an opportunity to help clients build, manage, and protect their wealth. I recently moved my financial practice to IG Wealth Management. I’m often asked why I made a major change after 33 years with the same company. My answer is “I want my clients to have the best financial experience that I can provide for them and I plan to keep on learning, improving and helping my clients do the same.”
This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice and is not intended as a solicitation to purchase securities. For more information on this topic or any other financial matter, please contact Andy Glavac of IG Wealth Management
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
ANDY GLAVAC, CFP®, EPC
75 Lincoln St. West, Unit #3
Welland, Ont., Canada L3C 5J3