If you need expert guidance on how to manage your finances, you’re in luck. Today, we’re going to review some of the top financial advisor firms in Ottawa.
Whether it’s a full-service in-person financial planning or one from a Robo advisor, there’s a firm for you on this list. We’ll weigh the pros and cons of each one to see which advisor is the best fit for your financial needs.
Are Financial Advisor Services Costly?
This will typically depend on the amount of money they’ll be managing on your behalf because most financial advisors take their fee from a percentage of your balance. However, others prefer a flat hourly or annual fee instead.
Some financial advisors will only take on clients with a minimum account size of $500,000 for full-service wealth management services. Others will do it for at least $250,000 so they can be assured of a percentage payment as their fee.
It will depend largely on the payment scheme of the financial advisor or firm you choose. If you’re not going to pay a regular flat fee for their services, there’s an option to pay one per plan (minus the investment management guidance).
We made a table below of typical financial advisor services in Ottawa. The estimated rates indicated beside each one are culled from the pricing schemes of some of the firms we’ll review in this article.
|FINANCIAL ADVISOR SERVICE||ESTIMATED RATES|
|Hourly rate||$180 – $400 per hour flat rate|
|Full-service wealth management||From 1% of $500,000 minimum account size|
|Robo advisor and online management||0.50% for $1,000 – $100,000 asset level|
0.40% for less than $100,000 asset level
0.30% for less than $1 million asset level
|Flat annual fee||$2,000 – $7,000 on retainer|
|Per-plan fee||$1,000 – $3,000|
Please note that some financial advisors utilize a sliding scale so the rates above are not set in stone. Fortunately, many firms are open to customized payment schemes based on the client’s budget.
Top Financial Advisor Firms in Ottawa
Now that you have an idea of their general costs, it’s time to know where to get the best services. Here’s a list of the top financial advisor firms in Ottawa we’ve reviewed for you.
1. Astrolabe Financial Group, Inc.
|SERVICES||Financial plan creation, investment analysis, personal finance education, customized financial services, consultations, wealth management|
|ADDRESS||200 – 1775 Courtwood Crescent Ottawa, Ontario K2C 3J2|
|CONTACT NUMBER||(613) 221-6061 |
|OPERATING HOURS||Monday to Friday 9 AM – 5 PM |
Closed on Saturdays and Sundays
Astrolabe Financial Group’s vision mission is pretty succinct. Its founders and group of financial advisors believe that everybody should have access to good financial planning and education.
The company takes pride in celebrating its anniversary during Canada’s Financial Literacy Month. However, Astrolabe also thinks that the Canadian financial industry fees are not fair to Canadians in general.
Its regular menu of services includes helping clients set up solid financial plans and providing investment analyses. But Astrolabe recognizes that specific life events such as pregnancy, retirement, or getting laid off also need special consultations which the firm proudly offers.
The firm is upfront about its pricing scheme at a flat rate of $180 per hour. But it understands how some of its clients could have budget constraints, and that’s why its advisors and staff are open to more flexible and reasonable pricing structures.
The following are some of Astrolabe Financial Group’s customer feedback:
“Having Astrolabe complete a financial plan for us was one of the best investments we’ve made so far. They were extremely professional and knowledgeable. Highly recommended!” – Brian Gudger
“I received exceptional results and an immediately executable financial action plan from Ryan Kerr at Astrolabe. My wife and I can now move into our pre-retirement phase with confidence and ease of mind. We will be able to optimize our financial situation while avoiding paying high management fees on the investments in them. I highly recommend Ryan and Astrolabe for anyone who wants to take control of their finances.” – BK
2. Potvin Financial and Retirement Services
|SERVICES||Investment planning, estate planning, investment tax planning, retirement income planning, investment decumulation strategies, budgeting and debt management, life and critical illness insurance, employer benefits, segregated funds, mutual funds|
|ADDRESS||117 Centerpointe Drive, Suite 320 Ottawa, ON K2G 5X3|
|CONTACT NUMBER||613-224-6561 |
|OPERATING HOURS||Monday to Friday 8 AM – 4.30 PM |
Closed on Saturdays and Sundays
Kevin Potvin is behind the success and drive of Potvin Financial and Retirement Services. Aside from being President of his financial advisor group in Ottawa, he also specializes in retirement planning.
His approach to today’s financial markets is to always look for long-term solutions instead of relying on market timing methods. Most of his firm’s established clients are nearly or already retired, so he always recommends a diversified approach to investment.
This doesn’t mean that the firm won’t welcome new clients or even wholesale representatives. In fact, new clients can avail of an initial complimentary consultation by phone or virtual meeting.
The Potvin Financial and Retirement Services website doesn’t really lay out the services (and corresponding fees) that the firm offers. Instead, it serves as more of a portal for appointment scheduling for existing clients, new applicants, company representatives, and free consultations.
These Potvin Financial and Retirement Services clients have nice things to say about the firm:
“Kevin and staff are amazing! I have been dealing with Potvin Financial for quite a few years and Kevin has always been really great about making sure that whatever financial advice he is giving is with my best interests in mind and not about making money. He is really easy to talk to and will answer any and all questions; of which I have asked a lot! He is incredibly knowledgeable and the staff are all amazing to deal with as well. Everyone is friendly and very helpful. Would definitely recommend Potvin Financial to anyone!” – Terra Branchaud
“Kevin is exemplary in his professionalism. It can be stressful to entrust finances with an advisor; I am very cautious in my comfortability with risk, but Kevin’s authenticity is reassuring. He is truly invested in making sure his clients understand his recommendations. Kevin is meticulous in his attention to detail, responsive to any / all questions, and he is very knowledgeable. Kevin Potvin is a man with deeply rooted integrity; he is a man of his word and I would highly recommend him.” – Julia Jesmer
3. Polaris Wealth
|SERVICES||Investment portfolio, financial planning, life insurance, financial behavioural counselling, diversification, online investment management, full-service wealth management, insurance and risk management, retirement planning, estate planning, corporate planning, life/disability/critical illness insurance|
|ADDRESS||343 Preston Street, 11th Floor Ottawa ON K1S 1N4|
|OPERATING HOURS||Strictly by appointment|
The financial advisors of Polaris Wealth don’t want you to follow what media tells you where investments are concerned. They instead want to focus on what they can control when they manage your investments.
One of its favoured approaches is to globally diversify your portfolio while keeping costs and fees from blowing up. How they handle your asset allocation will also largely depend on your willingness to take risks.
The main difference between Polaris and other financial firms is its emphasis on fiduciary responsibility towards its clients. Other financial advisors use a non-fiduciary approach, meaning they aren’t legally bound to put your interests ahead of their own.
The company’s main services include investment portfolio management, financial planning, and life insurance. Currently, its team of advisors and consultants conduct appointments strictly by phone or virtual meetings.
4. Exponent Investment Management
|SERVICES||Investment management, financial planning, portfolio review, individual pension plan, retirement calculator|
|ADDRESS||180 Elgin Street, Suite 1302 Ottawa, ON K2P 2K3|
|CONTACT NUMBER||1-613-747-2458 |
|OPERATING HOURS||Monday to Friday 8.30 AM – 5 PM |
Closed on Saturdays and Sundays
Exponent Investment Management invests in the latest technology and continuously educates itself to serve its clients better. Its entire team takes pride in not being motivated by quotas, number of transactions, and making big sales.
The firm takes a very human approach in managing its clients’ assets and investments in that it understands not all wealth is the outcome of happy events. People can have a financial windfall as the result of a loved one’s death, a divorce, or a beloved business closing down.
The company’s process is motivated by guiding its clients from actively chasing a professional income. Its advisors want to help these clients move to a life of passive retirement income instead.
Exponent Investment Management aims to build up an investment portfolio that’s tailor-made for each client’s needs, financial situation, and personal goals. To do this with accuracy, initial assessments will take stock of a client’s income sources including pensions and savings accounts.
5. Forest Financial Planning
|SERVICES||Financial Plan, Pre-Retirement Plan, Financial Reviews, Second Opinion|
|CONTACT NUMBER||(613) 663-7991 |
|OPERATING HOURS||Contact for more information|
Forest Financial Planning is company that assists their clients in creating the financial plan most suited for them. They aim to do so by providing services that are not only well-made, but will also teach you about what you need to better implement your financial plan.
Their focus is providing unbiased advice to their clients. They don’t sell products, nor do they manage money.
Clients of any net worth are welcome to hire their services. There’s no net worth or income requirements needed for application.
More importantly, they have a transparent compensation structure. You won’t need to worry about any hidden fees or sudden payments, as they will provide you with the bill before getting to work.
6. McAuley Financial Services
|SERVICES||Personal financial planning, wealth management, retirement planning, corporate services, wealth accumulation, retirement income, group insurance benefits, corporate retirement savings plan|
|ADDRESS||535 Legget Drive Suite 120 Ottawa, Ontario K2K 3B8|
|CONTACT NUMBER||[email protected] |
|OPERATING HOURS||Monday to Friday 8 AM – 4.30 PM |
Closed on Saturdays and Sundays
MacAuley Financial Services wants to provide the kind of professional attention it would take for a client’s fruitful financial future. Whether it’s a long-term or short-term goal, the firm wants to be there every step of the way with expert advice.
The company also provides unlimited meetings with a financial advisor so clients can truly understand their personal financial plans. It boasts of giving unbiased guidance because MacAuley isn’t associated with any financial institutions.
There’s a three-step process that MacAuley Financial constantly utilizes to provide custom-made solutions for clients. It involves reviewing the personal financial data in confidentiality, followed by providing an action plan that can be modified at any time.
Clients can then select investment options and have the MacAuley team monitor these on their behalf. They can also be furnished with regular reports on how their investments are currently performing.
Read what clients have to say about McAuley Financial Services:
“I can’t say enough positive things about the team at McAuley. Always professional service, highly responsive (I give Kevin heck all the time for answering my emails so quickly when I’ve sent them at oddball hours), and the admin/support staff are simply incredible…so efficient and organized! I highly recommend them for your financial planning!” – Letitia Gatenby
“We are so grateful to Angela Houle and the team at McAuley Financial. Angela is professional, knowledgeable and personable. She is incredible at providing us with information and options and she truly cares about helping us make the right decisions for our future. Recently she’s been able to support us with liaison work with our insurance provider, which has alleviated a lot of stress. Highly recommend McAuley and especially Angela for all your financial services needs.” – Christine Dalgeish
7. Mitch McLean
|SERVICES||► Create opportunities for withdrawing from your corporation 100% tax free|
► Creative income splitting
► Create valuable tax savings investing outside of RRSPs
► How to create an Individual Pension Plan (IPP) of retirement income potentially larger than a RRSP
► Family wealth approach to your finances
► Estate Planning: Transition wealth in a tax efficient and protected manner
► Asset swaps and debt replacement
► Discipline portfolio structure for the current market
► Create a sell discipline for your portfolio
► Creating a tax efficient pension plan while limiting market risk
► Generate guaranteed income for life
► Intergenerational transfers of wealth
► Using family trusts to protect wealth
|ADDRESS||Carling Executive Park|
1565 Carling Ave., Suite 610
Ottawa, Canada K1Z 8R1
|CONTACT NUMBER||(613) 728-0101|
|OPERATING HOURS||Monday – Friday: 8 AM – 5 PM|
Mitch McLean is a financial advisor known by many for his high-quality services and expert skills. As someone that provides investments from the public and private markets, he is an excellent choice for any financial concern.
What makes Mitch a cut above the rest is his personalised financial advising services, which are created according to his client’s goals and preferences. Moreover, he makes use of up-to-date, strategic advice to ensure that they achieve nothing but successful outcomes.
His financial plans are created with a cash flow analysis, which provides you with an actual value estimates for your retirement goals. They’re flexible as well so you won’t need to worry about adjusting to changes both unexpected and expected that happen in your life.
More importantly, these services come at reasonable rates and performed at a pre-determined and agreed-upon basis. Given his exceptional services and attentive customer care, Mitch McLean is a financial advisor more than worth considering.
FAQs About Financial Advisor Services in Ottawa
We hope that reading about the top financial advisor firms in Ottawa has given you a good idea of where to get the best services and assistance.
We’re open to suggestions if you have more firms in mind you’d want to include in our reviews. Just send us a message and we’ll check them out as soon as we can.
You can also read up our list of the best insurance companies in Ottawa to broaden your financial planning options.