Interview with David Dennis, Dennis Financial
Can you tell me a bit about how your business began?
Growing up, I watched my father Barry, grow his business at Dennis Financial & IPC Investment Corporation and establish a solid reputation in Fredericton by providing sound financial advice and helping people grow their wealth. As a second-generation financial advisor, I’ve observed Dad for decades as he overcame the various challenges of being a business owner and enjoying the satisfaction of helping others by sharing his 38 years’ worth of advice.
Tell me about your business? What does your business do? What products and/or services do you offer?
Through active advice, comprehensive personal wealth management, and our Unique Personal Wealth Management Strategy™ we aim to provide our clientele with the Advice, Education, and Organization to allow them to LIVE THEIR DREAM. Our team adopts disciplined processes which allow us to examine all aspects of a client’s financial well-being – from evaluating their current investments and retirement planning; to understanding their insurance coverages and risk management needs; and through our DF Benefits division, building all-inclusive benefits package for our client’s businesses.
Tell me a bit about your clientele, who are the people who use, buy or take advantage of your products and services?
Dennis Financials’ clientele is predominately small and medium business owners, provincial educators, lawyers, medical professionals, provincial government employees, and other high-net-worth professionals. Individuals who are looking for a strong personal relationship with their financial professional and hunger for advice are a great fit within our firm.
How many staff do you employ? Full time or part time?
Dennis Financial currently has 6 full-time staff, 3 Financial Advisors and 3 support staff.
Is your business involved in any community activities or organizations?
Dennis Financial manages many not-for-profit pension plans/group RRSPs in New Brunswick. We also support local communities’ activities such as individual sports sponsorships, the Freddy Beach Fanfest, and others.
Can you tell me about one of the most rewarding experiences you’ve had while working for the business? Favourite customers?
One of the most rewarding experiences I’ve had in my career is seeing the look in a client’s eyes when I delivered the insurance proceeds from the early passing of their young spouse. In a terrible time, this event provided immediate relief and reduced the stress and anxiety of the family. Truly a powerful moment.
What are you most proud of in your business?
I’m proud to be a part of our dynamic team and I am pleased to see many of our longtime clients continue to reap the financial rewards of putting a solid plan in place.
Has your business won any awards?
In 2021 Dennis Financial won the ‘Total Client Experience Award’ a national honor from our Mutual Fund Dealer, IPC Investment Corporation.This award recognizes one of the 800 financial advisory firms in the country for providing an exceptional client experience tha sets them out from their peers.
What kind of challenges have you experienced in your business and how were you able to overcome them?
The largest challenge we experience in our business is finding the right solutions for our client’s needs. For example, employee group benefits rates are always changing. Our Group Benefits Division, as a broker, can shop many carriers for the most competitive and comprehensive rates. This added flexibility for new and existing clients adds a level of complexity to our business, but through our industry partnerships, we are always able to overcome the challenges.
What sets you apart from your competition?
Dennis Financial takes time to build deeper, more personal connections with our clients. It’s the X-factor that gives them the confidence to share their hopes and dreams, what drives and inspires them. So, regardless of which part of our fully integrated financial firm they choose to work with; investments, insurance, or group benefits – we will get to the heart of their hard questions and tailor a plan to give them the answers they need.
What is the biggest risk facing your business or your industry?
The biggest risk facing our business now is the massive changes in government regulation. Since 2020 the entire financial services industry has gone through immense change. The lack of technological innovation in a largely paper-based industry has only increased the burden on our business.
What is next for your business? Any exciting projects you want to tell us about?
Dennis Financials’ next big step is the transition and succession of the business to a new generation of financial advisors and everything that comes from change.
How do you feel about the economy and opportunities in NB?
We feel that the economy in the province is strong and resilient. There are always market cycles, ups and downs, but the amazing people of New Brunswick will always need financial advice and education. We love building relationships and helping our clientele live their dreams regardless of our location in the economic cycle.
What is one thing you wish more people knew about your business?
We’d love people to know that when they’re spending time with what matters, their family, friends, and community we’re doing much more behind the scenes than they see.
What is the best advice you ever received as a business owner?
A former mentor of mine once said, “focus on what you can control”.
Disclaimer:
Trademarks owned by Investment Planning Counsel Inc. and licensed to its subsidiary corporations. Investment Planning Counsel, is a fully integrated Wealth Management Company. Mutual Funds available through IPC Investment Corporation and IPC Securities Corporation. Insurance Solutions and Group Benefits provided by Dennis Financial Inc.
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Author bio:
My goal is to help you create a financial strategy and turn your dreams into reality. Whatever stage of life you’re at: from managing loans, purchasing a home, transitioning into retirement, or receiving an inheritance or wealth transfer, it’s important to know how to properly manage your cash flow and plan for an unpredictable future. I believe in giving advice, educating, and organizing my clients to empower them so that they feel comfortable with their decisions and achieve their highest potential.
In my non-working time, I enjoy spending time with my family – including my wife Solli, our daughters Adrianna and Gabrielle, and our Black Lab ‘Ted’. I enjoy watching Formula 1 racing, and co-hosting a podcast called ‘Silverball Chronicles, a Pinball History Podcast’ available through Spotify.’