CLEARSIGHT WEALTH MANAGEMENT, A SPECIALTY NICHE investment and retirement planning firm with offices in Toronto and Vancouver, has signed a five-year affinity partnership agreement with the UVic Alumni Association.
The firm, launched in January 2004, promises to bring alumni customers the kind of service expected from larger firms without the commission sales approach of traditional brokerages.
“We chose Clearsight because it has designed an exclusive program that offers exceptional benefits for our alumni—lower fees, professional advice and a wide selection of products,” says UVic Alumni Services director Don Jones. A residual, based on total assets administered by Clearsight, will be returned to the alumni association to support programs and services like student scholarships and grants.
The agreement between UVic and Clearsight is similar to others that the company has established with several Canadian university alumni associations—including those of the University of Toronto and UBC.
Clearsight is offering UVic alumni investment services that are based on an annual fee, as opposed to brokerage commissions. The firm targets mid-market investors with accounts ranging from $25,000 to $500,000—people often overlooked by larger investment firms that are geared toward high net worth customers.
“Our clients have experienced a lack of attention from brokers at big firms who demand a higher level of assets before treating people as full-service clients,” says Clearsight president and founder David Finley. “The retail investment industry has abandoned middle class Canadians because of a built-in cost structure that forces them to chase the high-margin, affluent individual.”
Clearsight’s professional financial advisors (typically with at least five years of experience and holding either a Certified Financial Planner or Charter Financial Analyst designation) operate on a commission-free basis. “They are on the same side of the table as our clients,” says Finley.
The company’s products and account options include wrap programs, mutual funds, fixed income investments, equities, and cash management services. The “Clearsight Alumni RRSP Stock Portfolio” includes 10 stocks selected by the Strategic Analysis Corporation and has posted a 19.8 per cent annual compounded rate of return over the past 12 years.
Clearsight is a member of the Investment Dealers Association and the Canadian Investor Protection Fund. It reaches clients and potential clients through alumni magazine advertising, e-mail and regular seminars on campus. A recent series of seminars in Victoria and Vancouver attracted 170 alumni from UVic, UBC, SFU and BCIT.
Clearsight Wealth Management is on the Web at www.clearsight.ca/uvic.
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