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The more clients an advisor has, the less time they have to focus on an individual investor’s needs due to time constraints, says award-winning portfolio manager Thane Stenner

Most investors understand and appreciate that their relationship with their wealth advisor isn’t exclusive. Advisors need a roster of clients to run a business. Also, working with a range of investors helps advisors stay on top of the markets and the rapidly evolving wealth management industry.

Thane Stenner, senior portfolio manager, Stenner Wealth Partners+ of Canaccord Genuity Wealth ManagementSUPPLIED

But how many clients are too many when it comes to your advisor’s book of business? It’s a question more investors should consider, especially as they get older, their assets grow and their personal circumstances change.

“How many clients do you work with?’ is a key question that investors can and should be asking their advisors,” says Thane Stenner, a senior portfolio manager and senior investment advisor with Stenner Wealth Partners+ of Canaccord Genuity Wealth Management.

Mr. Stenner says the right answer will likely depend on an investor’s portfolio size. For instance, someone with about $500,000 to $2-million could be among more than 100 clients, which he says is reasonable in the industry. However, he believes that investors with $10-million-plus portfolios and various assets, such as a business, should expect to be one of only 40 to 60 clients on their advisor’s list.

Mr. Stenner, whose team works closely with ultra-wealthy clients with $25-million-plus net worth across Canada and the U.S., has just over 40 clients today – and the capacity to take on about a half dozen more each year. Keeping the roster this small means his team can provide the highest level of service to clients and meet their often more sophisticated financial needs.

He believes investors, particularly the ultra-wealthy, should expect nothing less. “An entry-level investor might be comfortable with their advisor having hundreds of clients, but the more wealth you hold and generate, the more complex your needs and the more attention you should be receiving from your advisor team.”

Mr. Stenner’s clients expect his team to communicate with them regularly and proactively. That includes reaching out when there’s market news or tax or other regulatory issues that come up that could affect their portfolio, either positively or negatively.

“Responding frequently and relevantly is what clients are ultimately looking for from their advisor, alongside the day-to-day management of their assets,” Mr. Stenner says.

Looking for more market insights? Listen to Thane’s podcast here: https://stennerwealthpartners.com/bnnbloombergpodcasts

Book a private and confidential consultation with Thane at https://stennerwealthpartners.com/contact-us or email SWP@CGF.com.


Canaccord Genuity Wealth Management is a division of Canaccord Genuity Corp., member-Canadian Investor Protection Fund and The Investment Industry Regulatory Organization of Canada.


Advertising feature produced by Globe Content Studio with Stenner Wealth Partners+ of Canaccord Genuity. The Globe’s editorial department was not involved.