{"id":266419,"date":"2025-11-06T11:44:20","date_gmt":"2025-11-06T11:44:20","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/266419\/"},"modified":"2025-11-06T11:44:20","modified_gmt":"2025-11-06T11:44:20","slug":"why-pricing-fits-the-family-tree-for-some-wealth-management-firms","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/266419\/","title":{"rendered":"Why pricing fits the family tree for some wealth management firms"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

A multigenerational model links parents, children and even grandchildren with tiered fees.\u0415\u043a\u0430\u0442\u0435\u0440\u0438\u043d\u0430 \u0421\u043a\u0432\u043e\u0440\u0446\u043e\u0432\u0430\/iStockPhoto \/ Getty Images<\/p>\n

With billions of dollars expected to pass between generations in the coming decade, Canadian wealth management firms are rethinking how to serve their clients\u2019 families and retain assets. <\/p>\n

One solution is family-tree pricing, a strategy designed to retain entire households across generations, even when the youngest members are still early in the stages of building their wealth.<\/p>\n

\u201cAt its core, family-tree pricing means we don\u2019t just serve a portfolio \u2013 we serve a family legacy,\u201d says Amy Dietz-Graham, senior wealth advisor and portfolio manager at National Bank Financial Wealth Management in Toronto. \u201cIt\u2019s like giving every branch of the tree, not just the trunk, a bit of sunlight.\u201d<\/p>\n

A multigenerational model links parents, children and even grandchildren under one umbrella, with tiered fees that adjust as family members\u2019 financial needs evolve. <\/p>\n

\u201cWe match our advice and services to their stage in life \u2013 from \u2018How do I pay off my student loans?\u2019 to \u2018How do I fund a family foundation?\u2019\u201d she explains.<\/p>\n

Establishing connections with younger family members is becoming more urgent, says Kendra Thompson, financial services consultant and founder of Epok Advice in Toronto. <\/p>\n

\u201cBetween 70 and 83 per cent of assets leave the firm within three years of the death of the primary account holder,\u201d she says. <\/p>\n

\u201cAdvisors are realizing their priority needs to be the surviving spouse as well as the child most likely to influence decisions around estate and family. Family-tree pricing is a way of staying relevant to everyone connected to that wealth.\u201d<\/p>\n

To prevent attrition, Ms. Thompson encourages advisors to start conversations long before wealth transfers occur. <\/p>\n

\u201cYou can\u2019t build intimacy with someone you don\u2019t know or don\u2019t even know exists,\u201d she says. \u201cAdvisors who hold family meetings, offer lighter-touch financial education, or provide guidance through major life events, such as a first job or home purchase, are the ones who stay relevant.\u201d<\/p>\n

Martin Weiler, founder and chief executive officer of First Capital Financial Corp. in Dundas, Ont., says his firm approaches successive generations \u201cholistically rather than separately.\u201d <\/p>\n

\u201cIf we have parents with seven-figure portfolios and kids in their 20s with small accounts, we don\u2019t charge the kids more or give them less service,\u201d he says. \u201cThey benefit from the family\u2019s collective wealth \u2013 that\u2019s part of the democracy of our model.\u201d <\/p>\n

Mr. Weiler recalls a recent case in which a longtime client inherited a seven-figure sum and chose to gift much of it to his children, who were in their teens and 20s. <\/p>\n

\u201cWe\u2019d already been working with those kids for years, setting up small [tax-free savings accounts] with $50 or $100 monthly contributions,\u201d he says. <\/p>\n

\u201cWe were already spending more time with them than those dollars could justify, so when the inheritance came, they didn\u2019t see us as suddenly interested just because they had money \u2013 we\u2019d already earned their confidence and loyalty.\u201d<\/p>\n

To serve each generation effectively, Mr. Weiler has built what he calls a multifaceted, multigenerational firm with advisors spanning between their 20s and 60s. <\/p>\n

\u201cBehind them all is a bench of senior advisors providing that gravitas and oversight. It\u2019s how we ensure every generation feels represented,\u201d he says.<\/p>\n

At Raymond James Ltd., flexibility is also key to bridging generations. <\/p>\n

\u201cBecause our advisors operate independently, they can tailor services and pricing structures for their clients and households,\u201d says Samantha Ouimet, senior vice-president of corporate communications and marketing. <\/p>\n

The company\u2019s \u201chousehold pricing\u201d model aligns services with each generation\u2019s stage of wealth development, from discounted fees for younger investors to advanced estate planning for aging clients, she says.<\/p>\n

Firms also have to be prepared to serve the next generation on their own terms, Ms. Thompson says.<\/p>\n

As digital-first millennials and Gen Z investors accumulate wealth, their expectations for a hybrid experience that\u2019s values-driven, tech-enabled and deeply personal are reshaping the industry, she says. <\/p>\n

\u201cDigital is beyond table stakes now,\u201d she says. \u201cIt\u2019s how firms build scalability and maintain engagement. The mistake is assuming younger clients will automatically see the value of a dedicated advisor.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: A multigenerational model links parents, children and even grandchildren with tiered fees.\u0415\u043a\u0430\u0442\u0435\u0440\u0438\u043d\u0430 \u0421\u043a\u0432\u043e\u0440\u0446\u043e\u0432\u0430\/iStockPhoto…\n","protected":false},"author":2,"featured_media":266420,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[21366,64,63,99,186,61229,21363,184,185],"class_list":{"0":"post-266419","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-appwebview","9":"tag-au","10":"tag-australia","11":"tag-business","12":"tag-finance","13":"tag-globe-advisor","14":"tag-noastack","15":"tag-personal-finance","16":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/266419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=266419"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/266419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/266420"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=266419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=266419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=266419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}