Portfolio Manager’s Weekly Commentary

Daryl Cooper

August 5, 2016

Bacon and Eggs, Saskatchewan Summers and the Cosmopolitan maturity of Saskatoon

On a personal level I am grateful for all three of the above, mentioned in the headline.  Bacon and eggs for breakfast will never grow old, whether poached or over easy but not too crispy. Saskatchewan summers are God’s gift in return for long winters. And finally there is the high frequency vibrancy of the new downtown Saskatoon.  I was just out for a stroll at lunch and continue to be amazed at the transformation of our beautiful city over the past 25 years.  From a “have not” province suffering from a severe inferiority complex, to a province that sends equalization cheques every year to mighty Ontario and Quebec (don’t get me started) and bustles with youth and confidence.  A report in 2015 has Saskatoon as the youngest City in Canada with a median age of 34.8 versus 40.5 for Canada. This is a far cry from the 1980s and ‘90s when kids couldn’t wait to move to Alberta.  Saskatchewan is a province of people that know the value of hard work and don’t expect a free ride. Self-sufficiency is the bedrock and what our land was built on and we aren’t the type that feels entitled to something not earned.

You should be asking right now what any of this sentimental nostalgia has to with wealth management. Allow me to explain:

Bacon and Eggs: Also known as the gold standard for breakfast – the efficiency and density of the nutrition is unmatched. For many of us, bacon and eggs is a staple: a trusted combination, providing you what you need in a time efficient manner, without much effort or thought. Just as you let the bacon and eggs work on your physical health, Cooper Schneider Financial always aim to be as efficient and thorough as can be when working on your financial health.

“There are a lot of things that go on in the world that we can’t control, and as such we tend
not to spend too much time worrying about that.”

These essential, core attributes of trust, efficiency and knowledge of your unique situation are what drive our wealth management philosophy. It must begin with a shared vision between advisor and client. Then, once the bacon and eggs have been served, let the time tested and trusted nutrition do the work; once the vision is established, our unique process becomes your key to financial prosperity and safety. “So what’s the point, where is the bridge in this analogy?” There are a lot of things that go on in the world that we can’t control and as such we tend not to spend too much time worrying about that. Having a core strategy and process is a must in wealth management as the same attributes that are good for your health is good for your wealth.

Saskatchewan Summers: A perfect Saskatchewan summer could be characterized as mostly sunny with enough rain to make for bumper crops. But we usually count on some inclement weather, like high winds, driving rain or hail storms. Insurance can cover off the damages to the property or the crop similar to having.  We, as your wealth management team are there to help when an unexpected tornado might happen along in your life. It is why we work with you to develop a financial plan that is flexible enough to weather the storms.  The depth of our proprietary in-house Team of Specialists is first class. The Team includes a banker, a chartered accountant with extensive knowledge in Business & Succession Planning, a lawyer specializing in Estates & Trusts, a team of Insurance Consultants, and a Certified Financial Planner. Our process is designed with your needs in mind, and no need or worry is too big or too small to be taken care of by our Team of Specialists.

“So what’s the point?” In your portfolio it goes without saying that we have one of the best hail insurance programs in the industry. We love warm weather and sunny skies and enjoy the times when the markets are going up. Being in, what we believe are, the best sectors is so important when the sun is shining as you cannot afford to be invested in a losing sector (oil and gas in 2015) when other sectors (2015 – US blue chip stocks) are going up.  Our rules will minimize losses and protect from major catastrophes as most investors can ill afford a major hail storm.

Saskatoon: It wasn’t long ago that you could shoot a cannon down 2nd Avenue on a Friday night and not hit anyone.  Now, Downtown Saskatoon is bustling with activity day and night.  It is wonderful to see all the young professionals hustling around at lunch time or scurrying into the office in the mornings. The mantra of 25 years ago was, “we can’t”. But today, we brim with enthusiasm, optimism and a pride that we are on the top of our game. The same goes for our service and money management offering. 25 years ago, things were done a certain way. You bought some stocks, paid commissions, held them and traded them whenever your stock broker told you to. He talked you into some mutual funds and you bought some strip bonds.  It was a real shotgun approach and many times the only time you heard from your broker was when he/she wanted to make a trade. Oh how the times have changed.  We now boast access to a full complement of specialists for all aspects of planning not to mention our highly advanced, ahead of the curve and state of the art Portfolio Management system.

“the idea of ‘not changing and expecting a different result truly is the sign of a lack of process,
which hampers progress, and who wants that?”

“Where is the bridge in this analogy?” We provide money management and financial planning tools rarely utilized or even heard about 25 years ago.  Managing money has gone from the old shotgun, “Buy & Hold” approach, to a modern, thorough, and objective process. No more, “we can’t” because the market dropped.  That is as unacceptable as Saskatoon going back to the days when it appeared everyone in town was in lock down after dark. It’s called progress and the idea of ‘not changing and expecting a different result’ truly is the sign of a lack of process, which hampers progress, and who wants that?

Daryl Cooper
Portfolio Manager,
Director, Wealth Management

You know… you keep doing the same things and
you keep getting the same result over and over again.
– Warren Buffett

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