STEVEN CARINCI, Senior Wealth Advisor, Foster & Associates Toronto, Ontario
“A bespoke approach to managing and preserving wealth for the long term”
Bespoke. It’s a British term that describes someone who custom makes or tailors something to suit a particular client. And “bespoke” describes perfectly Steven Carinci’s approach to wealth management: holistic, hands-on, and committed to providing the very best experience.
Steven, Senior Wealth Advisor at Foster & Associates in Toronto, has an almost old-fashioned commitment to personalized service. Creating the best experience he can for clients has been a priority since Steven started in the finance industry 25 years ago. It’s an approach that distinguishes him from other Advisors, and it has helped him gain the loyalty and trust of clients – most of whom have been with him for nearly two decades.
“My very first job was with Investors Group,” he says. “I would meet clients and prospects during the day, and at night be working in the malls, telemarketing, seminars, everything. The hours were long. And it was a great experience.” Those early years instilled in him the importance of hard work and personalized service – values that have guided him throughout his entire career.
Steven’s long career includes working at a number of respected firms over the years, where he developed his unique style and personal approach. In 2021, he joined Foster & Associates, a family-run, independent wealth management company. “It’s more of a family kind of atmosphere,” he says. “They don’t pressure you to sell bank products and they allow you to run the business as you see fit.”
Getting to know you: Understanding and managing expectations and emotions
How does Steven run his business? First and foremost, he truly gets to understand his clients, both professionally and personally. “I really like to dive in deep and know my clients in terms of their mindset and their emotional well-being,” says Steven. “We should be partners, a team with one common purpose. What are you saving for? What’s your timeframe? What are your financial and psychological needs? Then we go from there.”
With a keen focus on mitigating risks and managing both expectations and emotions, Steven develops a plan based on a client’s goals and expectations. When he meets with clients, he analyzes their risk and their investment objectives. And when he invests, he puts his money where his mouth is. “I only invest in what I would invest my own money in,” he says. I’m not going to say, invest in this area or stock or this mutual fund if I’ve never put my own money in there. I practice what I preach.”
His job, he says, is to be the quarterback. And while he recognizes that investors are more knowledgeable about markets today than when he first started out, he knows that emotions often colour an investor’s mindset, which, if not kept in check, can lead to panicked decision making. “A vast majority of clients, when they open their monthly statement and see it going up, they don’t really care. But when they see it down even a few thousand dollars, they panic.” That’s where the financial quarterback steps in, managing those emotions, navigating their actions, and adjusting their plan to best take advantage of the current market cycle – whether it’s up or down.
A holistic approach to meet all the unique needs of clients
While Steven has a strong focus on investing, his holistic approach includes looking after all aspects of a clients’ financial needs, whether it’s growing wealth, saving for retirement, or helping families with legacy planning. His bespoke method – with a strong attention to detail and personalization – ensures his clients’ plans are tailored to meet their unique needs, with an approach that is one-on-one and hands on. Always.
Even with clients across provinces, Steven still makes house calls, traveling to Alberta, B.C., and across Ontario to maintain that personal level of service with a broad range of clients, most of whom have been with him for 15 or 20 years. It’s a loyalty Steven has earned over two decades of providing personalized investment solutions that meet their financial priorities.
Clients’ compliments bring the biggest rewards
Steven’s success has been acknowledged with industry accolades: he’s been named to the President’s Council twice – once with HSBC and once with Canaccord Genuity Wealth Management, which is based on performing with the top 20 percent in those firms nationwide. He’s honoured by the industry recognition, but what matters most is the acknowledgment he gets from satisfied clients.
“Now I’m really just concentrating on servicing my clients and doing the best I can,” he says. “The most rewarding is when you put together clients’ portfolios and they compliment you in terms of how well you’re doing,” he says. “And that’s my greatest feeling, seeing how happy they are with my services.”
Steven and his team are increasing their ability to provide that same excellent service and better connect with investors and clients by building a greater presence on social media platforms like Instagram and LinkedIn. And while he’s expanding his toolkit through technology, he will also continue to do what he’s always done: be the best he can be for clients and provide the very best experience for clients using the bespoke approach that’s earned him the confidence and loyalty of his clients for more than two decades.
Steven sums it up this way: “In the end, it comes down to growing their wealth, and at the same time, preserving it. It’s about risk, mitigating and managing it. And it’s knowing your clients and how they'll handle it, knowing their emotions, knowing their mindset.”
“That's what sets me apart.”
Janice Tuff is a professional writer and communicator who got her start in radio copywriting.
Three decades later, she continues to draw upon the valuable lessons learned in her radio days: grab your audience’s attention quickly and always tell an engaging tale.
Steven Carinci, Senior Wealth Advisor
Foster Group & Associates
25 King Street West, Commerce Court North, Suite 2100
Toronto, ON, M5L 2A1
Office: 647.479.8832 Toll-free 1.855.271.2442
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