In the realm of wealth management, the desire to make a meaningful impact transcends mere financial success. Robert Sharman, retired Senior Vice President and Senior Wealth Advisor at BMO Nesbitt Burns, delves into the profound motivations behind philanthropic giving in this insightful article. Drawing from his extensive experience, Sharman shares how the pursuit of legacy and the joy of making a difference have shaped his career and the lives of his clients. Through a thoughtful exploration of personal stories and professional insights, this piece reveals the enduring importance of connecting with clients on a deeper level and fostering a culture of giving that extends beyond mere financial gain.

I believe we have more in common than we care to admit. I believe we all want to make a mark, make a difference.

To have our lives mean something.

It is a feeling that is usually in the background. Rarely do we address it head on.

But it shows up in a variety of different ways. Pride in our children. Sense of accomplishment by a job well done. Even the joy in ‘our’ team winning a championship.

My belief is bolstered by the experiences I had before I retired as Senior Vice President and Senior Wealth Advisor at a large national Investment Corporation.

My practice was one of the largest and most profitable in Canada. We had many accomplishments we could brag about, from awards and recognition, to a great team.

But that isn’t why I believe we all share the desire to make a mark.

Yes, my success and the joy I had in seeing the difference we made in the lives of our clients, that “speaks” to my personal sense of making a difference.

But my belief in why most of us share the desire to leave a mark is from what helped us achieve our success.

It wasn’t a hot trading strategy. It wasn’t the fancy office or the sharp clothes. Not the logo or the brand.

It was because we connected with our clients. We proved we cared and that we truly wanted to help.

One of my favourite lines is “if you don’t care where you will end up, any direction will do”.

If we were to connect, we needed to know where the client wanted to “end up”.

Another of my favourites, “we will spend more time planning a two week vacation, than either our retirement or what we want to happen when we die”.

What did we do that made us one of the largest teams in Canada? We asked. We asked questions about where our clients wanted to end up. And we listened.

I believe the most interesting set of questions you can ask someone – especially a successful driven person – is “what do you want to happen after you die?” “What do you want to be your legacy?” “Is there someone or something that is important to you?”

Yes – the majority of the answers revolved helping family. But I was also constantly surprised by some of the answers. Some of the answers I could never of guessed at. And with this insight we forged a sense of understanding of the person that is hard to replicate.

Was it awkward sometimes? Yes – especially in the early days when I was getting started. But like most things, with practice, it became easier until it became second nature. And when it became natural for me to ask, it was easier for the client to participate. If these rare – even odd questions seemed normal in the asking, then it was easier for the client to engage.

But for most – for those who wanted to do more than just help family – the “how” was where we sometimes got bogged down. How to make it happen?

This where the groups like the Nanaimo Foundation helped us keep the momentum going. They could pick up the baton and help keep the conversation moving forward. Yes we stayed in the picture, helping the client think it through and weighing options. We could help facilitate and translate. But the Foundation’s expertise and knowledge proved invaluable. They could help find tangible directions for even the most vague desires.

And the more we engaged with the specialists the more we learned. The more we learned the better we were at launching the process.

Often clients would ask what we were charging for this. I reassured them they were paying for this already in their general fee structure. And the result was referrals. There wasn’t a single thing that generated more growth in our practice than talking to existing clients about their legacy. The referrals would invariably tell us – with irritation in their voice – that their soon to be former advisor never even brought the subject up!

And we made sure to circle back every couple of years. We would revisit the goals and appropriateness of the strategies of giving.

And that’s where it really got fun.

Clients who had reluctantly recognized that they wanted to leave a gift to their communities, within a very short time had expanded their own horizons. They had learned the joy of planning and giving. And they often realized they could do more than they originally imagined.

It was a virtuous circle. They more they did – the more they got pleasure from it. The more pleasure, the more they did. The more they could see the difference they were making. The bigger their mark.

The greater their legacy.

We had front row seats.

They provided me with the proof of my beliefs.

We all want it to mean something. To have made a difference.

To leave a mark.

What will be yours?

Photo credit Blair Mann

Recently retired, Robert Sharman brought over 30 years of experience in delivering tailored wealth advisory solutions. With a strong background in banking, personal trust, and investing, he achieved several notable firsts in his career. He was among the first advisors in British Columbia to integrate his office into a bank branch and the first in Canada to establish a Separately Managed Account with a Socially Responsible Investment mandate. As a pioneer in the BMO Nesbitt Burns Wealth Advisor program, Robert’s innovative and client-focused approach left a lasting impact on the wealth management industry.