What’s in a name? Part 2

Scotia Wealth Management

May 23, 2017

Our last blog post talked about the important distinction between wealth advisors (qualified financial professionals) and wealth advisers (anyone claiming this title, qualified or not). Naturally, our team is comprised of highly skilled, experienced, dedicated wealth advisors who work hard for our clients and deliver personalized, holistic care. We’re proud to be advisors “with an O”.

But what other names do we fall under? Well, for one, you’ll see that our website has Scotia Wealth Management featured prominently on the main toolbar. You’ve probably seen the word ScotiaMcLeod listed in different places, and you’ve certainly heard of Scotiabank. The words Scotia Capital Inc. are even on the homepage! So what does it all mean, and how does Mailey Rogers Group fit in?

First, a quick history: Kim Mailey and Victoria Rogers started working with the investment firm McLeod Young Weir over 30 years ago. In 1987, the firm was acquired by Scotiabank in order to provide investment services to clients with more sophisticated needs. The firm was rebranded as ScotiaMcLeod and became a wholly-owned subsidiary of Scotiabank. Think of them as two separate silos on the same farm – connected, but providing different services than each other.

Early on, Kim and Victoria branded their wealth management team as Mailey Rogers Group – a unique and specialized wealth management team at ScotiaMcLeod. What this means is that Mailey Rogers Group clients have access to all of the resources at Scotiabank and ScotiaMcLeod, but the Mailey Rogers team has no obligation to sell Scotia products over non-Scotia products in the marketplace. Mailey Rogers Group’s access to the team of experts in every area of the Scotia group of companies has been an amazing resource that they take full advantage of on behalf of each of their clients’ specific needs.

So we’ve established that Scotiabank is one thing, and ScotiaMcLeod is another…but what about Scotia Wealth Management? What could be complicated is truly not – let us explain. A couple years ago, Scotiabank decided to group all of their advice-giving subsidiaries under one brand: Scotia Wealth Management. This includes Scotia teams providing investment advice, retirement and estate planning, family enterprise services, private banking and more – and Mailey Rogers Group offers all of these things. Subsequently, we are part of the Scotia Wealth Management umbrella as part of the ScotiaMcLeod subsidiary that has existed since 1987. Nothing has changed except the outward brand, which was developed to paint a clearer picture of the comprehensive, holistic wealth management services available to all Scotia clients.

If you’re scratching your head a bit at all of this, just think of it this way: ScotiaMcLeod is a full-service investment dealer that is a wholly owned subsidiary of Scotiabank. By grouping all of Scotiabank’s specialized advice-giving businesses under the Scotia Wealth Management brand, it hopefully makes the consumer aware that their diverse wealth management needs can now be comprehensively serviced by the Scotia Wealth Management team of experts. Therefore you do not need to get specialized services – such as will and estate planning or insurance needs – with another provider, it’s now available along with our investment management services. This allows a cohesive wealth management offering for our clients.

Mailey Rogers Group has always placed clients first, and has always searched the marketplace for the best solutions regardless of the issuer. This client-centric, objective advice has served us well. We are dedicated to getting to know our clients and their families, identifying their needs and goals (both financial and otherwise) and helping them achieve their vision for the future. This is truly our passion, and what we do best. We are thankful for the wonderful long-term relationships we have that allow us to demonstrate this.

Thanks for reading, and as always, please get in touch with our team if you have questions or comments about what you’ve read here. We look forward to connecting with you!