“We value our on-going and evolving relationships
and welcome that intergenerational transfer”
In a business so principally built towards succession planning, what better than depending on a wealth management practice that’s beautifully working through their own succession plan? That’s exactly where Andrew Bradshaw, CFP®, CIM®, RIAC, MFA-P™ and Senior Investment Advisor with iA Private Wealth is at today. Since 2013, he’s been working alongside his father Michael, who’s successfully built and run the family practice for 40 years. “We have a lot of next and third generation clients between my father’s clients and their families,” says Andrew. “Just as we value these on-going and evolving relationships and welcome that intergenerational transfer coming down, I feel they appreciate dealing with the same family at our practice as well.”
That blend of an already strong foundation with revitalized energy and strategy has seen the practice’s assets more than double over the past seven years as their team advise individuals, businesses, and institutional investors to achieve their financial goals. Andrew’s tailored financial plans and investment solutions are built upon his commitment to trust, privacy, and top-quality performance.
Andrew is the third generation Bradshaw working in the world of finance in Antigonish, N.S. The family continues to operate out of the same building they’ve been in for over 35 years. It’s long been a cornerstone of their community and clients feel welcome to stop in anytime. “We very much have a walk-in or call-in anytime kind of shop here and that’s what I think people really enjoy,” says Andrew. “One of us is always here and there’s no ‘1-800’ number appointment making process. Clients call me directly and come in to talk as changes come up, maybe they’ve sold a house, they’re thinking about retiring, they’re ready to start investing, essentially wherever they’re at.”
While Andrew’s continuation of the family’s financial business legacy has long been in the works, he followed his own impulse towards gaining some larger world experience outside the family practice first. This allowed him to complement Michael’s experience and well-formed client relationships with a diverse and renewed business outlook to the practice’s future.
To start, he attended St. Francis Xavier University to earn his Bachelor of Arts degree with Honours and an advanced Major in Bachelor of Information Systems. After graduation in 2000, Andrew gained that real world experience he desired, consulting for various small businesses, institutions, and international companies across Canada and around the world, including in the Middle East. Next, he worked as a security analyst with the Canadian Government until 2013.
With over a decade of international experience, Andrew and his partner, Theresa, were ready to come home to Antigonish, get married, and settle in where jobs awaited both at the family practice. Andrew quickly got to work gathering an impressive collection of further education and professional designations, starting with his Certified Financial Planner (CFP®) and Chartered Investment Manager (CIM®) professional designations. More recently, his Master Financial Advisor – Philanthropy (MFA-P™), which has become a topic of special interest for Andrew. “Many of our clients are aging and have estate planning needs,” he says. “The MFA-P is relatively new. It focuses on planned giving and philanthropy for clients, especially for those who are elderly, single, and have a lot of capital gains. It’s a great way to minimize taxes now rather than pay more on the estate later. It’s beneficial to both the client and the causes they care about.”
Andrew’s enhanced educational pursuits also align with his excitement to help younger generations through his Responsible Investment Advisor Certification (RIAC) designation. “This work is geared towards my younger clients and some early baby boomers who were looking for some innovative alternatives to traditional investing,” he says. “This group tends to value the environmental, social and government aspects of responsible investing.”
In a rapidly evolving industry, the timing for Andrew and Theresa to join the thriving practice couldn’t have been better. “We came into this business right at the time so many new rules came into play,” he says. “Because we’re newer to the business, our knowledge is in line with all the new compliance issues. My father’s been able to move a lot of the assets over to me to manage and he can step up into that overall advisory role to support me and our team.”
Andrew also believes his entry provided a stability and security for many existing clients, aiding in client and asset retention. “They knew I was the next step in my father’s succession plan,” he says. “I was able to meet with each of them when they came in for meetings and I helped develop retirement plans for many. A lot of older people often have assets held at various institutions and when they realized I was going to be there and see them through retirement and beyond, a lot of them consolidated their assets here.”
In fact, much of Andrew’s first five years’ work involved asset consolidation projects for their clients. “This allowed me to offer advice to many high-net-worth individuals,” says Andrew, recalling a particular high note. “I worked with a client who had approximately $50,000 with one bank, $100,000 with another firm. When we worked through and consolidated all his assets, he had no idea how much money he had until we showed him. Today I manage over $1 million in assets for him.”
Working in their beautiful rural Nova Scotian community, the Bradshaws deal with many farming and fishing operations, as well as professionals working at the local hospital and university. It’s helping these hardworking people access opportunity that Andrew especially enjoys about his job.
“I love finding people money they didn’t know they had,” he says, recalling a memorable experience working with a widowed client who was unaware of company shares she’d inherited upon her husband’s passing. “While I was working with her and examining her taxes, I noticed she was being paid a dividend for many years and traced it back to her husband’s passing. We contacted her various banks and determined there was an existing bank account she wasn’t aware of, finding all this money she didn’t even know about. She’d paid taxes on this money for 20 years, unaware, and now she calls that discovery a ‘windfall.’”
Andrew credits much of his growth strategy for clients to a strong planning focus, and a wellrounded team. “My career has been driven by a lot of holistic financial planning,” he says. “We also have a great team in our office. My wife’s background is in working on pensions and benefits consulting. We can offer those services and we also run an accounting preparation and consulting business here. Once we understand an individual’s tax situation, it’s advantageous to offer them advice not only around tax, but also strategic investing to minimize tax in the future.”
It’s no surprise Andrew prioritizes risk management in his financial planning services. “Before starting this job, I worked as a risk manager for the federal government conducting threat and risk assessments,” he says. “That drives a big part of my philosophy for clients – whether it’s a young married couple or an elderly widow, what are some strategies we can put into place to mitigate financial risk? We’re proud to offer our clients the services of our life insurance division here as well to ensure we cover that risk management aspect for them.”
That care for his clients is extended to Andrew’s community, especially as the learnings from his MFA-P have developed into a passion project. “I’ve been working with our local hospital foundation’s campaign to fundraise for an endowment,” says Andrew. “I speak on the importance of planned giving on behalf of the foundation to various stakeholders.”
It’s an area of the investment world gaining in momentum and interest. “I recently spoke on on planned giving and responsible investing to a couple of local charities,” says Andrew. “One board member called up one week later looking to combine all their assets with me, and I gained four other accounts through those meetings as well.”
As he manages the practice’s continually growing assets, Andrew begins work on his Portfolio Manager designation next year. “I honestly love my job every day. I look forward to passing on the knowledge we have here in our office and creating additional jobs in the community to serve our long-time clients. One day, I aspire to hire a younger me to serve the next generation.”
This presentation was prepared by Natalie Noble, an independent journalist, and does not necessarily reflect the opinion of iA Private Wealth Inc. The opinions expressed are based on an analysis and interpretation and do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. *Insurance products are provided through iA Private Wealth Insurance, which is a trade name of PPI Management Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund
Natalie Noble’s love of writing stems from her passion for hearing and sharing people’s stories. Over the years she has written for various business, real estate, and agriculture publications. At the heart of her work is a desire to continuously learn and connect.
Andrew Bradshaw, CFP®, CIM®, RIAC, MFA-P™
Senior Investment Advisor
iA Private Wealth Inc.
Insurance Advisor | iA Private Wealth Insurance
268 Main St. Antigonish,
NS B2G 2C2