Six questions, straight answers.
At 49th Parallel Wealth Management, we specialize in providing personalized financial services for clients living, working, and managing assets in both Canada and the United States. Our expertise includes cross-border and multi-currency investments, tax strategies, retirement planning, risk mitigation, education planning, and estate considerations, ensuring that your financial goals are met seamlessly on both sides of the border.
In addition, I personally have dedicated my time to educate myself to the highest degree — including holding the Chartered Financial Analyst (CFA) designation as well as maintaining my Certified Financial Planner™ designations in both Canada and the United States. I take at least 60 continuing-education hours annually to maintain my designations and continually grow within the industry, not just for business but for the betterment of my clients.
Lastly, I have lived and worked in both countries. I am a U.S. citizen who moved to Toronto in 2019 on a work permit. My youngest child was born at Mount Sinai hospital and is a Canadian citizen (dual). We spent almost three years living in Etobicoke and then Oakville. We ultimately moved back to Arizona in 2022 because, during COVID, we could not visit family in the U.S. — and could not get back into Canada because we were not permanent residents. Family also could not visit us. My son had never met his grandparents, and my wife and I hadn’t had a break from our children for over two years. We would probably still be living in Canada had COVID never happened. We loved our experience there, we understand the complexities and nuances involved in making an international move, and we want to help people who are facing similar challenges.
Throughout my career, I’ve recognized the importance of personalized financial planning that addresses the unique needs of each client. My aha-moment came around three and a half years into my cross-border journey. I already had my U.S. CFP® and was nearing the end of studying for my Canadian CFP® exam. Up until then, I found cross-border financial planning rather frustrating — it’s complicated, with two countries’ financial systems to consider plus the Tax Treaty and Totalization Agreement. Things aren’t always as they seem, and usually they’re more complicated.
It wasn’t one moment in time, but over a short period my understanding started to click. I began grasping how things work in a cross-border context and became much more comfortable advising cross-border clients. Since then, I’ve obtained the Canadian CFP® designation, embarked on the enormous journey of earning the CFA charter, and gained invaluable experience — both through work and through my personal journey across the 49th Parallel and back.
That all advisors are the same. We are not. Some are focused on giving the most sound advice possible and operate as either fee-only or advice-only, putting a huge emphasis on their education. Some “advisors” are nothing more than glorified salespeople who make their living selling financial products. They’re held to a different “suitability” standard, which basically means they have to be able to justify the sale of a product — not necessarily that it was the best solution for the client.
Some advisors use a hybrid model referred to as “fee-based,” which means they provide advice for a fee and also sell commissioned products like annuities. I’m sure some are well-intentioned, but it’s hard to tell the difference when you swim with the sharks by taking commissions. The client has to wonder, “Is this the best solution for me, or is this product being recommended because someone wants to fatten their paycheck?”
I’m a huge proponent of separating the advice from the sales. Working with a CFP® is a good first step, because a fiduciary standard will apply in most situations. Working with an advisor who is fee-only or advice-only is the best way to ensure you’re working with someone who has your best interest at heart. At 49th Parallel Wealth Management, we act as fiduciaries 100% of the time and never accept commissions or referral fees — proving our intent is to provide the best, most unbiased advice possible.
A book that has positively influenced my professional life is The Wealthy Barber by David Chilton. It offers practical financial advice in an accessible way, underscoring the importance of sound financial planning. Another would be Think and Grow Rich by Napoleon Hill — it aligns with the continual growth mindset that doesn’t stay stagnant, but wants to learn and evolve when needed.
I envision the financial services industry evolving toward greater transparency and more client-centric approaches. For financial planning and investment management to be viewed as a profession — equivalent to doctors, accountants, or lawyers — we need to separate the sales from the advice. It would be hard to trust your doctor if they were trying to sell you a new elixir or diet plan every time you visited. The public should be able to tell who is an advisor and who is a salesman, but as it stands anyone can call themselves a financial advisor or planner.
By adhering to a fee-only, fiduciary model, I contribute to that change by ensuring clients receive unbiased advice tailored to their unique needs. We never sell products or accept commissions, because we want to make sure we’re always sitting on the same side of the table as our clients.
My hobbies are providing for my wife and four children — two girls and two boys, a dog, and my wife of twelve years. We love to camp and get outside. I’m not much of a fisherman, but I try; truthfully, I haven’t gotten my own line in the water for a few years, because I spend the time going from kid to kid working on snags and retying hooks. I work from home and my wife homeschools, so I get a lot of time with my family. I also love to coach my children’s sports teams — sometimes two at once. I’m proud to say we went undefeated in our latest basketball season, and even prouder of how much the kids improved over the year.