Innova: 2021 Year in Review
“Every day the clock resets. Your wins don't matter. Your failures don't matter. Don't stress on what was, fight for what could be.” -Sean Higgins
“Okay campers, rise, and shine, and don't forget your booties 'cause it's cold out there…” -Groundhog Day
2021 – The Year of the Groundhog. The year in which every day seemed to melt into the next, is (finally) behind us. To many, it is good riddance, and they pin their hopes on a better year ahead, perhaps one without concern attached to every cough or sniffle they overhear. Omicron, the latest Covid variant, seems to have thrown a wet blanket on those wishes, but as perennial optimists, we are hopeful that its less virulent tendencies allow us as a society to put the whole Covid nightmare in our collective rear-view mirrors.
Despite the health risks, social isolation, paranoia, and inability to travel normally, we as individuals have learned many lessons from this everlasting global pandemic. From the mundane, like the importance of properly washing your hands, staying home when ill, and how to make a great sourdough starter, to recognizing and fostering the most meaningful relationships in our lives.
Both as individuals and as a company, we look back on 2021 with deep appreciation for our good fortune. Our focus on risk-controlled investing and strong client communication continues to pay dividends as evidenced by a strong influx of new referrals of friends, family, and colleagues to our team, helping us exceed 1/3 of a billion dollars in assets under administration.
In its second full year of operation, the private pool delivered double-digit rates of return, despite a very trying year for bonds and safe-harbour investments. The partnership with institutional asset manager Connor, Clark & Lunn (CC&L) has also delivered very strong returns for clients. Our internal portfolios of Dedicated Defensive and Socially Responsible fared well compared to peers. After an exceptional 2020, the Growth portfolio struggled due to poor performance in tech and emerging markets. A more detailed analysis of the markets and these strategies will be shared as part of our Q4 reporting in the third week of January.
All in all, we believe that clients will be very pleased with the performance of their investments in 2021 across all our mandates.
Over the next few weeks, our team will be focused on planning activities, including: Tax-Free Savings Account Maximizations, RRSP Contribution Planning and Cash Flow & Dividend Planning. This schedule is in-line with the annual planning calendar we shared with you last year.
Following the initial planning push, we will move to quarterly investment updates:
Internally, Innova continues to invest in its most valuable resource: people. Our prolonged growth has allowed us to add additional expertise that we believe will benefit the growing needs of our clients.
|On the service front, we are pleased to welcome portfolio manager Brandon Beeson. With more than a decade of financial services experience working with individuals, business owners, and institutional clients, he brings a wealth of knowledge and business know-how to Innova. Brandon will be leading new client on-boarding on behalf of the team.|
|Calvin Henderson has passed all three levels of the Chartered Financial Analyst (CFA) examinations and is working with our team as an investment analyst. A voracious reader and self-starter, he was lead author of several patent applications as part of a start-up that were highlighted at TechCrunch Disrupt. We will lean on this expertise in the stewardship of our growth-oriented mandates.|
|Rounding out the new additions is Travis Trim who joins us as a business analyst, focusing his efforts on the client experience. Along with coordinating marketing and business development, he is reviewing all aspects of our business to ensure that client service remains best-in-class. He is also working toward obtaining the Chartered Financial Analyst (CFA) designation and will participate in client meetings and investment analysis.|
As part of the acquisition of DonCar Insurance, Don MacDonnell also joined the team this year, sharing his more than 40 years of knowledge in group benefits and guaranteed investment certificates (GICs).
Further to these additions, our team remains committed to continuing education and honing our trade. As a team, we have been absorbing Allain Labelle’s experience in trust and estate planning, as well as more complex tax planning arrangements. We are grateful to count him as a resource and for his lead on keeping us current.
Laura Schmidt, lead on tax and financial planning, has undertaken various specialized courses throughout the year. Ranging from Canada Pension Plan special cases to Family Cottage Planning, she continues to be a useful resource on a variety of matters for all clients.
Amanda and Kelly were internally focused throughout 2021, integrating the new team members and improving the way in which we conduct business and manage multiple advisors. We are truly thankful to our team for their continued service excellence despite the inconveniences of having to work remotely and coordinate school closures.
2022 promises to be an exciting year for our team. For almost a decade, we didn’t even have signs for our office, preferring to grow exclusively by referral as we slowly built our team and processes. With the introduction of the private pool, and the significant investment in people and technology, we believe our procedures enable us to provide exceptional client service to families and organizations of all sizes, across Canada. As such, we are lifting the new client constraints we instituted last year (1x per month + $500,000 minimum) and are now able to assist your friends, family, and co-workers with all their investment, insurance, and planning needs.
We continue to feel that the very best way for us to grow is to invest our time and effort into servicing our client base who in-turn act as advocates for our team. We understand that communicating what ‘Makes us different’ can sometimes be challenging, and so to that end, we produced some materials that we will be sharing on social media in the coming weeks.
Should you wish to introduce a potential client to our team, please reach out to your advisor. We appreciate all mutually beneficial introductions as our continued growth allows us to invest in our team and benefit from economies of scale on our investment solutions.
Lastly, we will be launching a new client survey to ensure that we continue to meet your needs, exceed your expectations, and course correct where needed. We remain committed to ensuring that our near-perfect retention rate stays that way – so please do not hesitate to communicate with us what we are doing well, and what we could improve on.
We greatly value our relationship with you and appreciate your continued trust in our team. Thank you!
Want to learn more about our individual team members? Click on the names above for short videos on what we do at Innova, or visit our YouTube channel.
Aligned Capital Partners Inc.(ACPI) is regulated by the Investment Industry Regulatory Organization of Canada (www.iiroc.ca) and a Member of the Canadian Investor Protection Fund (www.cipf.ca). Investment products are provided through ACPI and include, but are not limited to, mutual funds, stocks, and bonds. Please contact Jean-François Démoré or Cliff Richardson, or visit https://invest.innovawealth.ca for additional information about the Innova Tactical Asset Fund. All non-securities related business conducted by Innova Wealth Partners is not as agent of ACPI. Non-securities related business includes, without limitation, fee-based financial planning services; estate and tax planning; tax return preparation services; advising in or selling any type of insurance product; any type of mortgage service. Accordingly, ACPI is not providing and does not supervise any of the above noted activities and you should not rely on ACPI for any review of any non-securities services provided by Jean-François Démoré or Cliff Richardson.
Information has been compiled from sources believed to be reliable. All opinions expressed are as of the date of this publication and are subject to change without notice. Content is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The information contained does not constitute an offer or solicitation to buy or sell any investment fund, security or other product or service. Past performance is not indicative of future performance, future returns are not guaranteed, and a loss of principal may occur. Content may not be reproduced or copied by any means without the prior consent of the author and ACPI. For current performance information, please contact Innova Wealth Management of Aligned Capital Partners Inc. Important information about the Fund is contained in the offering memorandum which should be read carefully before investing.
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