KAY PAUL, CFP®, RRC®, Consultant, IG Wealth Management, Ottawa, Ontario
“I’d say the most common advice I give to clients is to stick with the plan”
Kay Paul, CFP, Senior Consultant, IG Wealth Management is not interested in convincing people to purchase her services. “I don’t want to twist anybody’s arm to work with me. Oftentimes, after a few short conversations, many clients realize that I am not trying to sell them anything, but instead want to help them create plans for their future.”
Being in the business for 21 years has given Kay the opportunity to hone her skills, work with a broad range of clientele, and offer intentional, thought-provoking advice that leads to greater financial well-being.
From Self-Startup Restaurant Owner to Senior Consultant at IG Wealth Management
In her early business days, Kay took a chance on opening a restaurant in Ottawa, just next door to where the Senators NHL hockey team played. While this business brought about plenty of success, Kay quickly realized that it wasn’t for her.
Following this revelation, she switched gears and began searching for something new! “The next thing I knew, I was working as an office manager for IG Wealth Management where I worked alongside a number of high-performing Advisors,” Kay says. In working in this environment, Kay quickly realized her passion for Financial Planning. Kay absolutely loves what she does and hasn’t looked back since!
“While we always hope for the best, it’s important to plan for the worst.”
“I provide holistic financial planning,” Kay mentions. “For me, I view holistic planning as a way to not only help clients choose investments that match their risk tolerance, but I also provide them with a financial plan that takes them from today, well into the future”. With this approach, Kay emphasizes the value of anticipating “what-if” scenarios that inevitably arise over time.
Kay added, “I also have my insurance license which enables me to provide valuable assistance in managing risk and protecting individuals from unexpected life events.” While Kay always hopes for the best, you can rest assured she won’t ever sugarcoat anything. “I begin my conversation with clients about what could happen, and we make alternative arrangements just in case,” Kay mentions. “I want clients to be prepared for anything, even if it’s something they weren’t expecting. It’s important to me that our clients feel secure and confident in their financial future, no matter what’s to come.”
Overall, Kay’s holistic approach to financial planning prioritizes comprehensive planning to support clients in achieving their short and long-term goals. “I believe this approach has a positive impact on most people; they always leave feeling better.”
Working with Single Women and Small Businesses
Of the many different clientele Kay works with, she finds herself drawn to helping single women. “Often when women leave their relationship, they are uncertain since their former partner has been the one to look after their financial life in the past,” she says. “The biggest question I answer is, am I going to be able to live the same lifestyle that I had before I was with my partner?” The short answer is yes! According to Kay, women are often times more receptive to taking advice. Many of which are willing to apply her strategies and gain control over their future with greater confidence and self-assurance.
“I also like working with small business owners.” Kay believes that many business owners have the misconception that their accountant will handle their entire financial situation. However, Kay points out “While accountants are meant to look back and tell you how you did, Advisors can look ahead and tell you how you’re going to do it”. Kay mentions that “together, we are able to start saving in the appropriate places and address key concerns that may arise once they begin to make a profit.”
What Sets Her Apart from the Crowd
One thing that sets Kay apart from others in the industry is her ability to provide clear financial advice using plain and simple language. “I don’t like to throw around jargon and technical terms, even with experienced clients,” she explains. “I compare it to driving a car – I can drive my car, but I can’t always talk to my mechanic about what’s wrong. That’s why I strive to explain financial matters in a way that clients can easily understand and put into action.”
As such, Kay takes pride in helping a range of clients discover greater financial well-being. “Untangling the web of financial ideas can be challenging for clients,” she says, “but that’s where I come in.” Loyalty is a large part of her professional values. Kay ensures that every client continues to stay on track to meet her financial goals by making smart, intentional decisions, sticking with a plan, and adjusting over time.
According to Kay, continued learning and professional development are crucial aspects in the world of financial planning. “I think it’s just like medicine. There are so many knowledgeable and innovative individuals in this industry who are always coming up with new ways to help clients manage their finances and minimize tax burdens,” she says. Kay can deliver the most up-to-date advice and strategies to clients by continuing to educate herself and gain insight and support from her colleagues.
The Human Experience
Financial planning is not just about numbers and calculations; it’s about learning, understanding, and addressing the individual needs of clients to help them make the right financial decisions. For Kay, having the opportunity to meet in person is essential for her practice. Although, since 2020, IG Wealth Management has ramped up its technology services, she values having face-to-face discussions with clients. “Sometimes I don’t get the same feel from video or virtual meetings that I get from in-person consultations.”
Since being an avid horseback rider since the age of 10, Kay carries with her a level of patience, kindness, empathy, and understanding. “It’s all about making people feel comfortable,” she says. “I take a lot from what I learned with horseback riding to implement into my profession, such as actively listening to the needs of clients and paying close attention to their goals and concerns so that I can provide the most accurate advice and recommendations.”
A Glance into the Future
Above all, Kay recognizes the importance of having a strong team to prove the best possible service to clients. “Over the past few years, financial planning has become a necessity for individuals, business owners, and families,” she says. “Since many Advisors are approaching retirement age, there will be opportunities for new Advisors to get involved in the industry. Personally, I think this is an indication that I need to expand my practice.” As the financial planning industry continues to evolve, it’s clear that Kay is committed to staying ahead of the curve and ensuring that clients have access to the best possible advice and guidance in the industry.
Alongside these initiatives, Kay also plans to continue volunteering for the 100 Women Who Care of Lanark County as one of the founding members. “The organization supports various community initiatives, such as after-school programs for kids, helping women in abusive relationships, and animal welfare,” she says. Kay’s involvement showcases her love for learning and discovering new ways to support and give back to her community.
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Kay Paul, CFP, RRC
IG Wealth Management
Investors Group Financial Services Inc.
400 March Road, Suite 240
Kanata ON K2K 3H4
613 - 591 - 7639