11 minute read
Brandon Newell ☆ Folio.YVR ☆ Issue 24 April ☆ 2024 ☆ Luxury Lifestyle Magazine
Brandon Newell is a holistic wealth advisor known for creating bespoke financial solutions that cater to his client's unique needs. With over a decade of experience in the financial sector, he developed an impressive track record of success in fixed income, equity, and derivatives products for institutional clients at a leading Schedule I Canadian financial institution.
However, driven by his innate desire to make a difference in people's lives, Brandon has recently made a strategic career shift towards holistic wealth management.
He is passionate about empowering individuals, families, and small-to-medium enterprises with the financial stability they need to secure their future and that of future generations. His expertise and commitment make him a valuable asset to anyone looking to achieve their financial goals.
EAST COAST EDUCATION
Brandon is a proud alumnus of Saint Mary's University in Halifax, where he earned his Bachelor of Commerce with a concentration in Finance. He also holds the distinction of being a CFA Charterholder, which further enhances his credentials and expertise.
During his university days, Brandon displayed a strong desire to learn and grow in his field. He pursued his passion for fitness and health by building a supplements company (two locations), which quickly gained popularity among students in the athletic programs. He also partnered with the varsity football team and supplied them with the supplements they needed for peak performance. After completing his studies, Brandon secured an internship at the Ontario Teachers' Pension Plan, which paved the way for his successful career in the finance industry.
Brandon is passionate about helping hardworking entrepreneurs extract retained earnings from their holding companies as close to tax-free as possible over time. He uses proprietary tax reduction strategies to achieve this goal.
He is committed to helping his clients achieve financial stability and avoid being taken advantage of by unethical advisors.
RE-BUILDING IN YVR
Vancouver is known for its stunning natural beauty, diverse culture, and thriving economy. With one of the largest financial sectors in North America, Vancouver ranks among the top 20 financial centres in the world. The city's robust financial industry and reputation for being one of the most livable cities globally make it an attractive location for those looking to pursue or advance a career in finance. From investment banking to wealth management, Vancouver's financial sector provides ample opportunities for professionals to grow and excel in their careers.
With approximately 60,000 people employed by financial services companies in Metro Vancouver, getting a foot in the door in the industry can be difficult, especially with the shift from the East Coast to the West Coast. As with any relocation, designing one's footprint in a new city requires awareness of the business climate, culture, and network within.
In 2024, Brandon has a holistic wealth management business as an independent contractor at Global Solutions Wealth Management Inc. Not identifying with the sales-based advisors in the industry, he stresses that when he says his services are holistic, they really are, and creating long and meaningful relationships is the best way to move forward.
"I have no desire to meet client prospects and do one transaction over a couple of meetings. I really want to invest in a relationship with mutual respect and long-standing benefits."
Founder of Bridgewater Associates, American investor and hedge fund manager Ray Dalio greatly impacted Brandon. Dalio is quoted as saying, "In thinking about the relative importance of great relationships and money, it was clear that relationships were more important because there is no amount of money I would take in exchange for a meaningful relationship because there is nothing I could buy with that money that would be more valuable."
Upon reading that quote, Brandon vowed to live by those words. "It was always an approximation of my overall approach to business, but now it's ingrained in my mind and at the roots of everything I do. I am not someone who enjoys asking for business. Instead, I take the approach of educating people on financial literacy. I show them what proper planning looks like as opposed to inferior or sales-based planning. My goal is to help them get what they need for themselves and their families and avoid being taken advantage of by unethical advisors."
"I spent the first six months of my career helping people I stumbled upon that had mostly been taken advantage of by multi-level marketing firms like World Financial Group ( WFG)."
"I made barely any money in the process, but I could not bear to let them and their families suffer another day."
"If you trusted a financial advisor and got scammed, know that you are not alone. Feeling embarrassed and blaming yourself is natural, but it is not your fault. My role is to help you understand that you should be able to rely on your financial advisor, so if you are in this situation, feel free to reach out to me."
"While I enjoy helping individuals and families, I am also passionate about helping hardworking entrepreneurs extract retained earnings from their holding companies as close to tax-free as possible over time. It is important to note that this is not a 'get rich quick' strategy. The Canadian government has closed most of the available loopholes, but it is still possible with our proprietary tax reduction strategies at Global Solutions."
THREE KEY CONNECTIONS
After leaving Toronto, Brandon realized that a major change was necessary in his career. He understood that he could not continue at the same pace without addressing his emotional, spiritual, and physical needs. He was not comfortable with the idea of working for another large company.
In Vancouver, the aim was to become an entrepreneur and create a wealth management business that operated differently from the traditional ones.
Brandon believes financial advice should be based on the client's needs rather than sales. He built his practice on this principle. However, he faced a challenge - he needed a sponsor to move forward.
Enter financial advisor turned sponsor, Stephen Majetic, who also became a close friend. Next, he was introduced to and connected with Ryan Faridian, the founder and CEO of Global Solutions Wealth Management Inc., and a second-generation wealth advisor.
Brandon described Ryan as someone who shares his passion for showing people how to have the best financial future for themselves and their families. He was impressed that Ryan did not push a commission schedule across the table during their meeting!
Brandon was seeking a more meaningful path for his future, and Ryan's approach resonated with him. He wanted to create a tangible impact in the world that he could see grow as he met and assisted more people over time. He felt confident that he could achieve this goal in his current situation and that it meant everything to him.
At a 2023 real estate event, Brandon met business coach Jean Hardy, and they immediately clicked. Through working with Jean, Brandon learned about duality and how our perception of information or a situation changes how we approach or benefit from it.
He established a clear vision for what he wanted in life and what he wanted to avoid.
Meeting Jean changed Brandon's life and helped him reach places he did not know he could get to, and he recommends Jean highly as a business coach for those seeking guidance.
Brandon was hopeful when he embarked on his entrepreneurial journey, but he was also skeptical.
Although he had successfully grown two businesses from <$10M to >$100M and from $17M to over $60M, the idea of starting something from scratch was daunting. However, he believed that word of mouth was the most effective way to grow a business, and with the connections he made, Brandon knew he was on the right track.
As more people learn about their unique approach at Global Solutions, Brandon is confident they will attract many long-term clients and become a large and successful company.
Before the year's end, he plans to add ten new high to UHNW clients with over $1M in net investible assets or business owners with a net income of over $500,000 annually.
DIVERSITY & INCLUSION
Before Vancouver and during his impressive seven-year term at Women in Capital Markets, Brandon dedicated himself to championing the cause of male allyship. He worked tirelessly to promote gender diversity and inclusion within the finance industry and was widely recognized for his contributions. In fact, he made history as the first male to co-chair the WCM Vancouver Chapter Steering Committee, leaving a lasting impact on the organization and inspiring many others to follow in his footsteps.
"My time at Women in Capital Markets was significant. There was a point early in my career when I looked around the bustling office and realized that over half the women that I had been hired with were no longer at the firm, while over 80% of the men remained. It also appeared that my female peers were making substantially less than I was and less than equivalently performing males. This income disparity concerned me, so I started exploring what I could do to effect long-term change."
"I found the WCM, became a member and started attending events to learn and contribute as much as possible."
"At 28, I soon sat on a panel with 4-5 senior managing director females from my firm and others talking about these issues to crowds of 500+ people. That in itself was daunting, but then to be criticized by male colleagues with whom I tried to get involved was another blow. The initiative of increasing male engagement to raise awareness and move the dial was something other than what they were interested in being involved with."
In 2018, Brandon was offered the position of the first-ever male-appointed chairperson of the Vancouver chapter steering committee. He accepted the offer, relocated, continued with his initiative to improve male engagement, and recruited more men to the steering committee in Vancouver. He served as the chair for almost three years before moving on.
CHARITY IN HIS HEART
Brandon's dedication to community goes beyond his professional responsibilities and extends to several initiatives. While working in investment banking, he actively participated in various charitable efforts, including the United Way Campaign, Make a Wish Campaign, and the CIBC Run for the Cure. Additionally, he was involved in Movember and initiated an annual CIBC squash tournament, which he managed for six years. The proceeds benefited cancer research, and even today, the event continues to raise funds.
Recently, Brandon unexpectedly became a dog rescuer while on vacation in Los Angeles.
Alan Calimbas, a Vancouver-based real estate agent and IG friend, frequently posted about opportunities to adopt dogs from high-kill shelters in California.
When Brandon learned that three dogs - two from dog fighting situations and one senior dog with health issues - were running out of time, he quickly mobilized his friends to adopt them. Together, they began the journey from Los Angeles to Vancouver. It is particularly heartwarming to know that Lobo, one of the dogs, found his forever home with Brandon.
THE VALUE OF DOWNTIME
During his leisure time, Brandon actively participates in physical activities such as running, hiking, and enjoying the beautiful nature of BC.
He is also passionate about mental health awareness, particularly emphasizing the importance of support for men dealing with mental health issues, reducing the stigma, and especially encourages men to speak up and seek help when they are struggling, and he wants to to be part of the solution in creating a safe and supportive environment for everyone to prioritize their mental well-being
