Rodney Anton with Evergreen Wealth Management at iA Private Wealth.Supplied
In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years and how their experiences influence the advice they give clients. Season 3 of the Behind the Advice podcast is now out! You can find episodes from all three seasons here.
Rodney Anton, senior investment advisor with Evergreen Wealth Management of iA Private Wealth Inc. in Toronto, talks about how his family shaped his interest in financial services, the money mistake he made after landing his first job in the investment industry and why Ted Lasso would make a great advisor.
Describe your upbringing and how it influenced your career path.
I was born and raised in Toronto. My father was an accountant who became general manager of the Canadian division of ADP Dealer Services, so I grew up around conversations about numbers, efficiency and leadership. My mother had a diverse career in health care management before eventually following her passion for holistic healing as a natural health care practitioner. My brother’s been in sales since university, building and running several successful organizations.
From my dad, I learned discipline and the importance of planning; from my mom, that money should support a meaningful, balanced life; and from my brother, that building relationships and understanding people is key to creating opportunities. Those lessons became the foundation for how I approach both personal finances and running a client-focused wealth practice.
What was your experience with money growing up?
My parents were always open about money and taught me to manage my own finances. I would never go to my parents and ask for $20 to spend at the mall with my friends. Instead, I received an allowance and was left to manage my own money, save it, and buy what I wanted. It taught me about flexibility and financial control.
What did you want to be when you grew up, and how did you get into financial services?
I wanted to be an airline pilot. I was fascinated with airplanes from a young age. When I pitched the idea of attending aviation school to my parents, they challenged me to create a business plan outlining the costs and expected income to justify the expense.
After researching, I discovered the cost was incredibly high, about $80,000 a year, while the projected income didn’t justify the investment. That exercise forced me to consider opportunity cost and plan proactively for my future.
It turned out to be a defining moment: instead of pursuing aviation professionally, I chose to attend business school. That said, I didn’t give up on my dream of being a pilot. I eventually earned my private pilot’s licence and now enjoy flying as a hobby.
Mr. Anton has his private pilot’s licence and flies as a hobby.Supplied
What is the biggest money mistake you’ve made and what did you learn from it?
Early in my career, I made the mistake of buying a new sports car I didn’t really need. It was an Infiniti G37. I thought it was so cool. At the time, I felt I should ‘look the part’ as a young professional. It was very short-sighted. The car didn’t make me better at my job or bring me closer to my real goals; it just tied up capital that could have been invested. I sold it a couple of years later.
Looking back, that decision taught me the importance of asking a simple question before any major purchase: ‘Does this bring long-term value, or is it just short-term gratification?’
What’s the hardest piece of money advice for you to follow?
Following the advice I give clients. I think many advisors find this challenging. Sometimes we’ll tell a client not to buy a risky stock, but then we do it ourselves because we think we’re smarter. Or we can be emotional with our investments when we tell clients not to be.
We’re human. We’re not immune to the emotions of investing. I’ve learned to lean on data, history and my plan rather than instincts in those moments. This experience has also helped me coach clients through volatility. I can empathize because I’ve felt it too, but I’ve seen firsthand how discipline pays off in the long run.
What’s a piece of advice you wish someone had given you early in your career?
Don’t confuse activity with progress. Early in your career, it’s easy to stay busy. But the real needle-movers are simple and repeatable: consistent prospecting, consistent follow-up and consistently delivering a great client experience. If you build those habits early, everything else gets easier.
Which famous person or fictional character would make a great financial advisor – and why?
Ted Lasso, the fictional character played by actor Jason Sudeikis in the Apple TV series Ted Lasso. He’s an American college football coach hired to coach an English soccer team despite having no experience with the sport.
The character is known for his empathy, kindness and focus on personal growth over wins. He’s good at listening and motivating people. If he were a financial advisor – after getting all the right credentials, of course – he would have clients eating out of his hands.
This interview has been edited and condensed.