Mike Wise provides conservative wealth management services to his clients, including financial and estate planning and investment advice.
He is registered with Portfolio Strategies Corporation, an independent Calgary-based mutual fund dealer that has branches in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. Portfolio Strategies manages nearly over $3 billion on behalf of clients.
Mike Wise has served as advisor to a corporate retirement fund, as an investment advisor with a full-service brokerage firm, and now provides financial advice to individuals and corporations with Portfolio Strategies Corporation. His specialty is a client-centred approach to financial planning, using a custom Statement of Guidelines and Objectives to direct investment policy.
Mike earned the designation of Fellow of the Canadian Securities Institute in 1994. This is the highest award available in the investment industry in Canada. He is registered to offer investment products to clients in British Columbia, Alberta and Ontario.
He was a Director of the Independent Financial Brokers of Canada from 2009-12. The IFB is a professional association representing approximately 4,000 financial advisors. All members are registered and licensed to provide investment and/or insurance advice to their clients.
The hallmark of IFB members is that they are independent advisors who are able to offer a range of financial services in order to best serve the needs of their clients. All IFB members must adhere to a strict Code of Conduct.
Mike is author of Canadian Asset Allocation Strategies, was a contributing writer to Canadian MoneySaver magazine for several years, and has been quoted in The Calgary Herald, The Financial Post and The Globe & Mail.
He appeared on CBC Newsworld to speak on retirement planning issues, and was also a guest lecturer at a professional society annual meeting and at a national sales conference. Mike was The Investor Learning Centre of Calgary's most frequent guest speaker, with four presentations over two years.
"Because of my pension background, I believe in a very disciplined approach to money management, which starts with a formal Statement of Guidelines and Objectives.
This document lays out the ground rules for the investment process: the time frame, income requirements, returns expected, and any portfolio constraints. It also includes a benchmark against which to evaluate performance.
"Pension funds have historically achieved returns superior to those achieved by individual investors. I ascribe that performance to several factors:
"I provide those clients who have larger accounts with all three of these features.
"At Portfolio Strategies, we believe that the biggest risk that a client faces is failure to meet his or her financial goal. We are one of the foremost practitioners in Calgary (and possibly all of Canada) in the application of Modern Portfolio Theory to development of our clients' portfolios.
"This means that we determine the investment return that our client needs to fulfill his/her financial goals, and find an asset mix that will meet the required return with the least possible uncertainty. We cannot eliminate risk, but we can measure it and minimize it! The result is usually a portfolio that has far less volatility than a standard balanced portfolio, but comparable or superior returns."
“I’m an independent financial advisor. Portfolio Strategies provides back-office services and compliance supervision for me, but otherwise I can operate on a pretty long leash. Independence means that I can offer you advice and provide investment products from a wide range of competing portfolio managers and firms.
“I consider that portfolio management is as much art as science. I look for managers who can consistently outperform their peers across the entire market cycle. Such managers are rare, and seldom are all at the same firm. We also want managers who can treat the client well during good times, but protect the client when things turn ugly. So we look at risk as well as reward.
“When I discuss how I assess managers, I frequently use the metaphor of professional golfers. We are looking for golfers who seem to end up on the leaderboard in every tournament that they play. We want a guy like Tiger Woods in his heyday on our team! Then there are other pro golfers who fill out the rest of the PGA Tour roster. They do OK, and occasionally win a tournament. But there are other professionals who don’t belong on the pro tour at all, but should stay at home as club pros. We want to stay away from those!
“The chart below shows the risk and reward ratings for every fund that has a 10-year track record that I am authorized to offer to you. There are equity funds (gold), balanced funds (blue), and bond funds (red) shown on this chart.
“The chart vividly shows that not all portfolio managers are created equal. You really want an advisor who can offer you portfolio managers from the wide range of competitors out there.”
"I have been practising for 25 years. My method of doing business is quite labour intensive, and I maintain a client base of under 100 families in order to achieve a high level of personal service to all. I am not actively trying to expand my client base, and am seeking only clients with whom I can develop a long-term close relationship.
"New clients that I accept must have current financial assets over $200,000, or the financial ability and resolve to reach that position within a few years.
"I use mutual funds for the equity part of the portfolio because the volatility of individual stocks is too high for me to project return and risk for the portfolio as a whole. Clients may have individual stocks or corporate bonds within a self-directed RRSP, but these will not be part of the financial plan, and clients will be responsible for buy/sell decisions. I cannot, under the Alberta Securities Act, provide advice or recommendations about individual stocks or corporate bonds.
"I prefer to use an Investment Savings Account, GICs or a government bond ETF for the fixed income side of a portfolio. I use mutual funds for foreign bonds and high yield corporate debt, because I believe it cost-effective to pay a manager to control the currency or default risk.
"Most importantly, I prefer clients with whom I can develop a good working relationship, based upon mutual trust and respect."
Portfolio Strategies Corporation is an investment firm composed of ethical, independent financial advisors dedicated to giving their clients the very best in professional, customized, non-biased financial and lifestyle advice. At Portfolio Strategies we believe in balanced and conservative investment strategies that help clients and advisors manage risk.
Portfolio Strategies was founded in 1994 and has roots as a Managing General Agency, so for us client service and advisor support means everything. We appreciate the complexities of an independent advisor's business and provide the tools, training and resources that are required to stay competitive and help clients achieve their goals in the current financial marketplace.
In the two decades since our founding, our firm has grown into one of the largest independent investment firms in Canada, offering advisors Mutual Funds, insurance products, and access to the private capital markets. Our firm has over $3 billion in assets under administration and more than 290 advisors located in offices in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. We are also registered to deal with clients in the province of Quebec.
We believe that clients benefit from working with advisors who have an unbiased choice of investment offerings. Our advisors can recommend the best products for their clients without the pressures of proprietary products or recommended funds. We are in the business of providing exceptional support and counsel to our independent advisors to help advisors and their clients achieve their financial goals.
Our company supports the entrepreneurial spirit. We enable our advisors to offer top quality investment advice to clients without telling them how to run their businesses. Clients won't be forced to buy our "in-house" products. Instead, we provide advisors with systems and strategies to help them develop the right combination of products and services for their clients. The client's success and satisfaction are our first priorities.