PHIL BROOMES PFP®, FCSI®, Senior Wealth Advisor, CIBC Wood Gundy, Financial Planning, Investment Strategies, Hamilton, Ontario

NATALIE NOBLE
Jan 14
6 min read

PHIL BROOMES

"Investing in Your Success: How Phil Broomes Supports Your Financial Journey"

For professionals at the top of their game, daily work is never just a job. It’s their passion. That truth is held tightly by Phil Broomes PFP®, FCSI®, Senior Wealth Advisor with CIBC Wood Gundy in Hamilton, Ontario. “I take my role as a Wealth Advisor very seriously,” says Phil. “I am dedicated to looking after clients and their family members for the long term, staying the course with their families after they retire or pass on. I create personalized plans that help ensure their goals can be met and look at everything holistically.”

This August, Phil celebrated three years with CIBC Wood Gundy, a turning point period in the brokerage world. “I’ve worked really hard for that validation of rapid success,” says Phil. “This is a monumental moment in my life. At age 45, I set out to do this and three years later, I’m proud of this success. Now, I will keep going, focusing deeply over the next two years on refining, but also growing, my offering by continuing my mission to do what is in the best interest of my client, ensuring they have access to the best possible service.”

Long before this celebration, Phil says he entered the finance world by luck. A travel enthusiast, he decided an international business major would unite his career and personal goals. With an eye to practicality, Sheridan College’s Ontario College Advanced Diploma in Financial Management proved the best route. “It was amazing. I had much more hands-on experience with professors who worked in the field, on Bay Street, some owned their own financial planning firms, some were VPs at big financial companies and Fortune 500 companies,” says Phil.

Right after graduation, Phil started with a leading American-owned bank. “That’s where I got my feet wet,” says Phil. “I started back in mid-office roles where I learned the trade for four years.”

However, thanks to a college professor’s advice, Phil understood the importance of a broader learning experience. “He said, ‘finance is a very robust industry. You do not want to avoid moving around,’” says Phil. “So, every two years, like clockwork, I would look for the next opportunity to grow my knowledge and experience in many areas of the financial industry with different high-performing teams.”

My experience includes working at a private company, followed by roles at several major Canadian financial institutions and then a Bay Street brokerage firm. “That’s where my interest in the Advisor role ignited, working in that frontline people-facing role,” says Phil, adding that Thomas Caldwell, the brokerage firm owner, was a major influence. “He pulled me aside one day and told me something that changed my life. He said, ‘people like you are where the future of the industry is going. You understand the backend and how things work, and you are personable, so people feel comfortable speaking to you.’”

Thomas encouraged Phil to complete the Canadian Securities Course (CSC), and that is how he was able to onboard clients alongside Thomas. “I’ve always aimed to listen to what people in the industry have to say, and action that advice” says Phil.

Dedicated to continuing education, Phil currently holds the Personal Financial Planning (PFP®) and Fellow of the Canadian Securities Institute (FCSI®) designations and the Life License Qualification Program (LLQP) certification. Next on his agenda is to complete the Chartered Investment Manager (CIM®) designation. “The FCSI was a big accomplishment. It takes a lot of courses and a high level of professional development to achieve that honour. When I did, I was thrilled,” says Phil.

Prior to all those achievements, as he first worked on his CSC and continued trading, Phil began onboarding clients. From there, he spent nine years at a national financial services firm that specialized in supporting medical professionals. “They did the financial planning and investment management for Canadian doctors,” says Phil.

When the firm was acquired by a major Canadian bank in 2018, it was time for another change. “I was ready to do this on my own as an independent broker,’” says Phil. “I researched and explored opportunities with various brokerage firms and decided that CIBC Wood Gundy was where I wanted to continue to grow my wealth advisory business. I have not looked back since.”

Phil says the difference-maker at CIBC Wood Gundy is its open shelf. “I can go out anywhere within the bank across the country and work with any product, Advisor, or specialist I need in the best interest of my client. It feels great that I have the freedom to do that,” he says. “What attracted me here was the ability to work with the people I want to work with. It is not regional or territorial. I can figure out what works in terms of the client experience and ensure my team is well-rounded. I provide a high level of service for clients, and I want the other people around them, especially specialists, to meet that also.”

That openness at CIBC Wood Gundy is critical to what Phil means when he talks about holistic service. “It’s so important to have that teaming aspect and specialized support,” he says. “I work with my clients’ external parties, such as their accountants, lawyers, mortgage brokers, and we connect regularly when needed to help ensure we are all on the same page. That builds trust and transparency.”

In addition to providing clients choice, Phil works to educate them along the way. “I’m a staunch advocate of financial literacy,” he says. “No matter how much money you have, you should get the same quality level of advice, whether just starting out or already having achieved wealth. I look at everyone through the same lens. Yes, you are different from a financial and planning perspective, but at the end of the day, you are trying to accomplish something. It’s my role, no matter what you have today, to help you accomplish those goals.”

Within Phil’s holistic approach to clients’ long-term needs, serving business owners has become a specialty, especially crafting their transition plans, focusing on their children and beneficiaries. “Once you have a holistic plan, children should be included,” says Phil. “We should be discussing together so everyone knows what role they will play and all be on the same page. We need to take a wide lens view so that if anything were to happen to Mr. X or Mrs. Y, their children can step in seamlessly and know what their options are. I want them to know they have a dedicated person in me to take care of them through that transition and to help them get to the best position possible.”

Phil’s family focus and empathetic nature make him a strong ally when transition planning is needed. “I treat every client like a family member. I celebrate and support my clients during birthdays, kids’ graduations, unfortunately deaths, all these life events. I check in and share back and forth. I want clients to feel that level of comfort and know that I am here for them.”

Phil does not just prioritize family at work. He lives that same value at home in Stoney Creek with his wife Rebecca and their three children aged eight, five and one. “Rebecca is fantastic. She is the rock in our family. During my transition to Wood Gundy, she made a lot of sacrifices in her own career and aspirations to support me,” says Phil. “It’s paid off because we can now provide our children a good level of stability. In this job, I can turn work off as soon as I walk out of my office in downtown Hamilton, unless there is a client emergency of course. Going home to them and seeing their smiles with not a worry in the world means everything to me.”

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.