This interview is with Chad Harmer, Founder, CIO, and Financial Planner at Harmer Wealth Management.

Chad Harmer, Founder, CIO, and Financial Planner, Harmer Wealth Management

Chad, could you tell us a bit about your journey to becoming a financial planner and the driving force behind establishing Harmer Wealth Management?

My journey to becoming a financial planner started within some of the largest Canadian banks, where I had the opportunity to gain invaluable experience and develop a deep understanding of the financial industry. Working in those institutions gave me a solid foundation in everything from investment management to client relations.

However, over time, I realized that the structure of a big bank didn’t allow me the flexibility or autonomy I needed to truly serve my clients in the way I envisioned. That realization became the driving force behind establishing Harmer Wealth Management.

I wanted the freedom to take a more personalized, holistic approach to financial planning—one that wasn’t tied to the constraints of corporate agendas or limited product offerings. By moving independently, I was able to design my practice with my clients’ best interests at heart, offering customized strategies and solutions that align with their unique goals and circumstances.

At Harmer Wealth Management, my mission is to simplify financial planning and empower clients to make informed decisions that lead to lasting security and peace of mind. It’s incredibly fulfilling to help people achieve their financial dreams, and creating this firm has allowed me to do that on my own terms.

What key experiences in your career solidified your approach to financial planning and investment management?

My approach to financial planning and investment management has been shaped by the understanding that nothing in this world is static. Early in my career, I learned that markets, methods, and client needs are constantly evolving. This realization has driven me to stay adaptable and proactive in refining my practice.

Working with a diverse range of clients over the years, I’ve seen firsthand how different life circumstances and financial goals require unique strategies. These experiences taught me the importance of flexibility—not just in investment management but also in how I communicate and work with clients.

Each client’s journey is different, and it’s my responsibility to adapt my approach to meet their needs while staying ahead of broader industry and market changes.

Another key moment for me was navigating periods of market volatility with clients. Guiding people through economic uncertainty taught me the value of preparation, resilience, and the power of a long-term perspective.

These experiences solidified my belief in crafting well-rounded, risk-aware strategies that allow clients to weather challenges and stay focused on their goals.

Ultimately, my practice continues to evolve because I believe growth is essential—not just for me but for my clients. Staying informed, adaptable, and client-focused is what allows me to deliver value, no matter how the world changes.

Many individuals find financial planning daunting. What is one crucial piece of advice you give to new clients who are just starting their financial planning journey?

My number one piece of advice for anyone starting their financial planning journey is to hire a professional who can take the daunting aspects of the process off your plate. Financial planning doesn’t have to be overwhelming when you have the right partner guiding you.

The key is finding someone you click with—someone who understands your goals, communicates clearly, and tailors their approach to your specific needs. A good financial planner will simplify the complexities, provide a clear roadmap, and work with you every step of the way to ensure the plan is realistic and actionable.

Financial planning isn’t just about numbers; it’s about building a strategy that works for your life. When you have a professional you trust, the process becomes far more manageable, and you can focus on achieving your goals with confidence.

You specialize in creating tailored financial strategies. Can you share an instance where you had to devise an unconventional solution for a client facing a unique financial challenge?

One instance that stands out involved a retired client who wanted to stay in their home but was facing a significant cash-flow challenge. They had considered a reverse mortgage, but the costs and long-term implications weren’t ideal for their situation. Instead, I proposed an unconventional solution: an equity takeout.

By leveraging the equity in their home through a line of credit or a strategic refinance, we were able to free up the funds they needed to cover their expenses without the hefty fees and limitations of a reverse mortgage. This approach allowed them to retain ownership of their home while preserving more of their financial flexibility.

What made this solution work was tailoring it to their specific needs—analyzing their cash flow, debt obligations, and long-term goals to ensure the strategy aligned with their overall plan. It was a win-win: they maintained their independence and stayed in the home they loved while keeping more of their wealth intact for the future. It’s moments like these that highlight the importance of creative, personalized financial planning.

Retirement planning is a cornerstone of financial planning. What is the most common misconception clients have about retirement planning, and how do you address it?

One of the most common misconceptions about retirement planning is that it’s all about hitting a specific savings number—like $1 million—and once you reach it, you’re set. While having a savings goal is important, retirement planning is far more complex and personal than just a number.

What many clients don’t initially realize is that retirement planning is about creating a sustainable income strategy that aligns with their unique lifestyle, goals, and financial situation. Factors like health-care costs, longevity, inflation, and potential market fluctuations all play a role in determining how much is truly needed—and how to make it last.

To address this misconception, I focus on educating clients about the broader picture. We start by looking at their expected expenses and how they want to spend their retirement years, then factor in income sources like Social Security, pensions, or rental income.

From there, we create a personalized plan that prioritizes both financial stability and flexibility, ensuring they’re prepared for both the expected and the unexpected. Retirement planning isn’t just about saving enough—it’s about having a clear strategy to make that money work for you, so you can enjoy the retirement you’ve envisioned.

Market volatility is a constant concern for investors. How do you guide your clients to stay focused on their long-term financial goals amidst short-term market fluctuations?

Market volatility is an inevitable part of investing, but it’s important to remember that those fluctuations are short-term. One of the ways I guide my clients through these periods is by reminding them to stay focused on their long-term goals and the bigger picture.

We revisit their financial plan and the timeline we’ve established, highlighting how short-term bumps along the way are expected and accounted for in our strategy. This helps put things into perspective, easing their concerns and reinforcing the importance of staying disciplined.

I also emphasize the value of sticking to a diversified investment approach, which is designed to weather market swings. By showing clients how their portfolio is structured to balance risk and reward over the long haul, they feel more confident in staying the course.

Ultimately, my role is to be their sounding board and guide—keeping them grounded, informed, and focused on the destination, rather than the occasional rough patches along the road.

Estate planning is often overlooked. What key considerations should individuals keep in mind as they begin thinking about their estate plan, and how can they ensure their legacy is protected?

Estate planning is one of the most important yet often-overlooked aspects of financial planning. It's not just about distributing assets; it's about ensuring your wishes are carried out efficiently and minimizing potential complications for your loved ones.

One key consideration many people overlook is taxes. Estate taxes, capital gains taxes, and even probate fees can significantly impact the value of what you leave behind. A well-structured estate plan can help reduce these liabilities, preserving more of your wealth for your beneficiaries.

Updating your will is another crucial step. Life changes—such as marriage, divorce, the birth of a child, or the purchase of significant assets—can make your existing will outdated. Regular reviews ensure your will reflects your current wishes and circumstances.

The use of trusts can also be incredibly beneficial. Trusts provide a way to control how and when your assets are distributed, protect them from creditors, and even bypass probate in certain cases. They're a powerful tool for safeguarding your legacy.

Finally, understanding how family law impacts your estate is essential. For example, if a beneficiary is going through a divorce or facing legal challenges, proper planning can protect the assets you leave them from being tied up in disputes.

By addressing these considerations and working with professionals who understand the nuances of estate planning, individuals can create a plan that not only reflects their wishes but also protects their legacy for future generations.

Technology is rapidly changing the financial landscape. How do you incorporate technology into your practice to enhance client experience and optimize financial outcomes?

Technology plays a significant role in enhancing both the client experience and the efficiency of my practice. At Harmer Wealth Management, we leverage technology to streamline processes, improve communication, and deliver better financial outcomes.

On the efficiency side, technology helps us automate routine tasks like portfolio rebalancing, performance tracking, and data analysis. This allows us to focus more time on personalized planning and strategic decision-making for our clients. Tools that provide real-time insights into market trends and portfolio performance enable us to make more informed and timely adjustments when needed.

For client interaction, we use secure online platforms that make it easier to share documents, provide updates, and collaborate in real time. Virtual meetings and digital planning tools give clients the flexibility to stay engaged with their financial plan from anywhere, ensuring they always feel connected and informed.

In terms of planning, technology enables us to run sophisticated simulations and scenario analyses, helping clients visualize the potential impact of various decisions on their long-term financial goals. Whether it’s stress-testing a portfolio or projecting retirement income, these tools make financial planning more dynamic and accessible.

By incorporating technology thoughtfully, we enhance the overall client experience while ensuring that their financial strategies are both optimized and adaptable in an ever-changing financial landscape.

Looking ahead, what emerging trends in the financial planning industry are you most excited about, and how do you envision them shaping the future of financial advice?

One of the most exciting emerging trends in the financial planning industry is the integration of AI to manage clients' financial needs in real-time. AI has the potential to revolutionize financial planning by providing constant monitoring, adapting to life changes, and making personalized recommendations as circumstances evolve.

For example, AI can analyze spending patterns, market conditions, and lifestyle changes to proactively suggest adjustments to savings, investments, or budgets. This level of automation ensures that financial plans remain dynamic and responsive, reducing the risk of falling off-track due to unforeseen events or missed opportunities.

What's even more exciting is the potential for AI to enhance the collaboration between clients and advisors. With advanced data insights and predictive modeling, advisors can focus on strategic discussions and long-term goals while AI handles the heavy lifting of day-to-day analysis and adjustments.

This allows for a more personalized, efficient, and forward-looking approach to financial planning. Looking ahead, I believe this technology will make financial advice more accessible to a broader audience, empowering individuals at every stage of their financial journey to make informed decisions with confidence. It's an exciting time to be in the industry as we embrace these advancements to deliver even greater value to our clients.

Thanks for sharing your knowledge and expertise. Is there anything else you'd like to add?

Financial planning is more than just numbers—it's about creating a strategy that aligns with your unique goals, values, and aspirations. Whether you're just starting to save, navigating market volatility, or planning your legacy, it's important to stay focused on the big picture and seek guidance when needed.

The financial landscape is constantly evolving, and so are the tools and strategies we use to help clients succeed. By embracing technology, staying adaptable, and focusing on personalization, we can create solutions that not only address today's challenges but also prepare for the opportunities of tomorrow.

At the end of the day, my mission is to empower clients with clarity and confidence in their financial decisions. Whether it's overcoming challenges or capitalizing on emerging trends, I'm here to provide the guidance and strategies they need to achieve lasting financial security.