Core to that philosophy, he explains, is a perception within the energy of index funds to seize market worth and ship long-term progress prospects for shoppers. Passmore notes that Canada has proven to be a relative laggard within the adoption of index funds, one thing he attributes to the legacy of the advisory enterprise as a distribution arm for mutual funds. He argues that a lot of the trade nonetheless promotes larger margin merchandise, and PWL doesn’t wish to do this. Within the conversations Passmore has had with potential advisory groups, alignment on that philosophy has been key.
Passmore admits that this concentrate on shared philosophy limits PWL’s marketplace for progress. He notes, although, that their ‘oneness’ has enabled them to articulate a price proposition throughout standard and unconventional channels.
By way of their podcast Rational Reminder, a number of YouTube channels, and a cohesive communications technique, PWL has established a presence and what Passmore calls an “institutionalization of lead circulation.” The place up to now individuals might need gone to non-public networks for data and suggestions on investing, which could have benefitted the advisors in these networks, in 2025 individuals log on for data. By establishing a presence throughout on-line channels, PWL can articulate their philosophy within the locations the place potential shoppers are looking for solutions, thereby driving progress.
Whereas most companies would possibly profess to hunt philosophical alignment or cultural match within the advisors they bring about onboard, Passmore argues that quantities extra to easily getting alongside as colleagues. Whereas that’s vital, it doesn’t quantity to unity of consider in how shopper portfolios ought to be managed. That, in flip, limits what a agency can say about itself.
“The one advertising we will do as a agency is mainly a pair on a dock with a Labrador retriever,” Passmore says. “As a result of you possibly can’t say ‘we consider in index funds,’ ‘we consider in asset class funds,’ or ‘we consider in one thing,’ and that’s, I feel, the chance that we now have.”