“The core of everything I do is providing professional advice”
Mitchell Miranda, Consultant for IG Wealth Management has dedicated his career to bringing value and professional advice to his clients. “It’s all about providing a sense of well-being and peace of mind,” Mitchell says.
Born and raised in Kenya, Mitchell was the only person in his family to move overseas to Canada to pursue his dreams. Despite his limited knowledge of the financial or political frameworks in Canada, he took it upon himself to navigate these unfamiliar systems with determination and perseverance.
A Steady Climb to Financial Advising
Mitchell’s career began when he arrived in Canada in 2005 as an international student. “I was 18 at the time,” he says. “I came here by myself to study at Carleton University. Originally, I wanted to become an engineer, but I quickly realized that it felt too rigid for me – it was either the bridge stands or it collapsed – there were no in-betweens.” Mitchell decided to explore economics, which offered a better balance of math and reasoning. “Understanding how the economy behaves in different scenarios was captivating for me, and it was my first interest in the field of financial advising.”
Upon graduation in 2008, the financial crisis posed challenges in finding employment, leading Mitchell to accept a part-time role at a bank. “After a couple of weeks of training, they were impressed by my performance and offered me a permanent role in one of the back offices,” Mitchell explains. “From here, I began learning about the financial industry, exploring the many opportunities it had to offer.”
During this time, Mitchell gained valuable insights into financial transactions and all the many tricks of the trade which set him up for success in his career today. “I learned what to do and what not to do from a financial perspective. Eventually, I wondered why this knowledge was not accessible to everyone. This realization led me to take my first steps by transitioning into the role of Financial Advisor where I stayed for 10 years.”
Eventually, Mitchell discovered the importance of life insurance and its implications. “Once again, I felt as though it was the best-kept secret in the industry, with limited public awareness,” he explains. “As a child, I received guidance from my mom, who was a big saver. Although I didn’t fully comprehend it at the time, I understand the concept of putting money aside instead of impulsively spending it.” Today, Mitchell realizes that this habit taught him the importance of saving for emergencies. “Instead of indulging in immediate desires, it’s crucial to have a safety net in case unexpected situations arise,” Mitchell explains.
Motivated to make a broader impact, Mitchell sought a position where he could combine investment strategies with insurance solutions for clients, using his upbringing, experience, and education to shape his current career path today.
Mitchell’s Mission to Professional Financial Guidance
Above all else, Mitchell’s number one value revolves around providing professional advice and being a reliable figure for clients. “I recognize that financial matters, particularly related to aspects such as life insurance, may not always bring instant gratification to clients,” he says. “Clients may question its value since they don’t immediately benefit from it. However, when the need arises, and when families are involved, they find solace and appreciation.”
Mitchell’s practice stands out from others in his field due to his unique background and experiences. “Moving to Canada as an immigrant gave me a ton of insight into the world of investments,” he says. “However, it’s challenging these days because advice can be found on social media platforms like Youtube, TikTok, or Instagram where it’s not always reliable or valid. This realization helped me clarify my mission to communicate information clearly and directly.”
Mitchell recollects a pivotal experience that shaped his approach. “While working in estate administration for a major bank, I was finally able to work directly with clients, exposing me to the emotional and challenging process of settling estates,” he explains. “For instance, when settling a deceased parent’s estate, the executor faces immense pressure with beneficiaries, some motivated by money while others genuinely mourn the loss of their loved one.” This experience highlighted the importance of insurance policies and seeking professional advice to prevent such difficulties.
“Unfortunately, pride and fear often hinder people from seeking financial guidance,” Mitchell says. “In my practice, I aim to demystify banking and break the stigma surrounding discussions about salary, benefits, financial plans, and what happens following the loss of a loved one.” Mitchell believes in addressing these matters head-on, ensuring that individuals are prepared to have made provisions for their loved ones and emergencies. “From my personal experience, these matters hold great significance.”
The Value of Human Interaction and Personalized Support
One of the top challenges that Mitchell faces in this industry is the stigma surrounding seeking financial advice. “People are often reluctant to disclose if they’ve found a reliable professional, fearing judgment or assumptions about their wealth,” he says. “This causes people to turn to more self-directed investment platforms, or simply use Google to search for financial advice. While many of these tools have their advantages, they often lack comprehensive guidance beyond investments, such as tax savings and overall financial structuring.”
Though this is often the easy route, which many younger individuals tend to gravitate towards, Mitchell often asks his clients “Do you want to do what’s easy or do you want to do what’s right?”. These obstacles can be overcome, but it all boils down to building trust. When Mitchell meets with clients, he prioritizes creating a safe space where privacy is respected. “From here, I rely on receiving comprehensive information from clients. In other words, I need all the pieces of the puzzle so I can formulate accurate solutions.”
Mitchell finds that his financial advice varies from one person to the next. “A plan that suits someone at a particular stage in life may not be suitable five years down the road, as life events and circumstances change,” he explains. While there may be certain strategies or similarities that can be applied across different clients, he understands the importance of personalization in financial planning. “The beauty of financial planning lies in its adaptability,” he says. “This aspect of my job makes it enjoyable as it involves getting to know people, understanding their circumstances, and determining how to help them achieve their goals.”
Evolving with the Industry and Cultivating Long-Term Client Relationships
When it comes to licensing, the mandates for continuing education are crucial. “The financial industry is constantly evolving,” he explains. “Many of these mandates are necessary to keep up with the changes.” Continuing education enables Advisors to learn and adapt as they progress in their careers, ensuring they remain in touch with their clients and effectively serve new generations with different preferences and tools.
Mitchell's dedication to client education is evident in his approach. “When clients meet with me, my aim is for them to leave each meeting having learned at least one new thing they didn't know beforehand. I strive to uphold this motto throughout my work,” he explains.
For someone looking to enter into the financial advising profession, Mitchell advises them to continue to grow their skills, stay up to date on the latest trends, and most importantly, have patience in the process. “It is indeed rewarding, but the reward comes in the long run,” Mitchell explains. “You won’t always receive immediate gratitude from clients, but by staying the course and diligently assisting clients year after year, you will see the results. Now having worked in the industry for twelve years, I am witnessing the positive outcomes of relationships I established seven or more years ago! Rest assured that there is light at the end of the tunnel.”
Keeping the Balance: Career, Family, and Giving Back
Mitchell emphasizes the importance of finding a healthy balance between his work and professional life. “I have a newborn, so for me, balance is crucial,” he says. “Fortunately, I’m married to a superwoman. My wife plays an influential role in both my business and home life. She encourages me to pursue my goals and provides valuable support.”
He prioritizes disconnecting from work during vacations and truly unwinding. “Although some roles may require staying connected, it’s vital to find ways to decompress and enjoy life,” he says. “Having three kids who I love playing with, a fulfilling career, and other hobbies I enjoy including golfing and spending time with friends, I firmly believe there’s an opportunity to blend both worlds and find a harmonious balance.”
Outside of work and home life, Mitchell is deeply passionate about giving back to charitable initiatives that are near and dear to his heart. “Having grown up in Kenya, I have a love for wildlife,” he says. “The foundation I support is called the Sheldrick Wildlife Trust Foundation. Mitchell appreciates the opportunity to contribute to wildlife conservation, recognizing the importance of environmental approaches and the significant role hunters can play in wildlife conservation efforts.
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Mitchell Miranda, Consultant
IG Wealth Management
Investors Group Financial Services Inc.
2 Gurdwara Rd., Suite 500
Nepean, Ontario K2E 1A2