Jason talks to Andrew Kirkland, President, and Co-Founder of Justwealth. The company is a Canadian based Robo advisor that deals directly with consumers but also collaborates with financial advisors.
Episode Highlights
- 0.29: Justwealth is an online portfolio manager also known as a Robo advisor and Andrew is bringing investment services to Canadian investors via a very efficient model by using technology.
- 2.55: Just of just wealth is for justice and acting in the client's best interest of all time we are regulated with the Ontario Securities Commission which means we have fiduciary standards to act in the best interest of the clients that we deal with, says Andrew.
- 3.32: Andrew's co-founder background is in the asset allocation space. He actually manufactured some portfolio models for large banks and other high net worth portfolio management in Canada.
- 5.25: It was important for us to make sure that we are building a broad product lineup and if someone looks at Justwealth lineup portfolios, we have a many more options than other Robo advisors, says Andrew.
- 8.25: Andrew says that they have different portfolios for different account types. You could be accumulated in accumulation phase in one of our growth portfolios and invested in a non-registered account.
- 10.13: Justwealth's portfolio investment questionnaire provides questions as to help us figure out which risk level that you're associated and for us, risk is really determined by your ability to take on risk and coupling that with your willingness to take on risks, says Andrew.
- 14.07: Andrew says that they felt that their investment offering of having more options attracted somebody who may have more objectives that need to be met.
- 16.09: People are beginning to realize that costs associated with the bank are just too high for the service that they are getting.
- 18.00: Andrew says that they have financial planning channel, and they are working with financial planners, and they are referring or outsourcing the investments decisions to us
- 20.43: Andrew wishes to have unlimited amount of funds to explain their services to all the people.
- 21.38: The biggest challenge in new company is to teach yourself to be patient for the public and the users to understand your service, Andrew.
3 Key Points
- Financial plan can change and will change between today and 15 years down the road, but people just want to get an understanding for on the right track record and that's what our service can provide from a financial planning perspective, says Andrew.
- From a cost perspective, the people to have the most gain are not necessarily the millennials. Millennial will get the savings over time, which is phenomenal.
- Andrew shares where he is finding the majority of his client base.
Tweetable Quotes
- "We are trying to make it as efficient as possible for people to get access to sound, quality, and diversified investment portfolios." – Andrew
- "In earlier times, there were a lot of costs that associated with the current model that inflated the end cost to the investor." – Andrew
- "We also have a family that targets or utilized often within RESP and education savings plans." - Andrew
Resources Mentioned
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