Up Financial Team
In 2015 Elijah Kirchmaier & Nathan Wood decided to combine their respective practices to start something different. Drawing from their previous experiences they knew exactly what they didn’t want to become: just another Wealth Management Firm conforming to the old-school & backward practices of the industry. They knew the industry needed to change, and they wanted to be that change.
The two major issues We saw with the industry:
The vast majority of “financial advisors” are simply sales people. They sell products instead of giving advice and tend to work only with certain products. Investment brokers calling themselves “financial advisors” who manage investments but don’t look at the big picture, insurance salespeople calling themselves “financial advisors” but who only sell insurance, and “estate planners” who only try to sell big life insurance policies. Without title regulations in an industry already flooded with jargon and confusion it’s no wonder Canadians struggle to find good quality financial advice.
Most financial advice comes in the form of “house” products. A bank advisor will sell their bank’s products, an insurance advisor will sell their insurance company’s products. But who says those recommendations are the best ones for you? Often, they’re not. Your advisor is restricted from doing what’s in your best interest, and is instead working in the best interest of themselves and the firms they represent.
Shouldn’t there be a better way?
Practicing with a Fiduciary Standard of Care - Our sole responsibility and duty is to advise in the best interest of our clients.
No house products. The structure of our business removes this conflict of interest and allows us to focus on to delivering results, rather than potentially selling a product with a higher commission.
Up Financial is a fee based practice. Instead of being compensated by fund companies that may vary in compensation, we charge a set rate ensuring there is no financial incentive for recommending one company over another.