#INVISOR INVESTMENT MANAGEMENT INC PROFESSIONAL#
In particular, barriers such as costly fees and high account minimums leave many Canadians without access to professional investment advice, Udiaver says. The co-founders were driven to launch Invisor based on observations of the financial services sector’s growing concentration on high net-worth clients. Poole also has more than 20 years of experience in the financial services sector, including a variety of executive level roles in the life insurance and reinsurance space. Udiaver co-founded Invisor with Dan Poole, who is also the firm’s chief operating officer. He spent more than a decade at TD Asset Management Inc., at which he was most recently vice president and director, investment management. Udiaver has more than 20 years of experience in financial services. “It’s way lower than what a typical customer would pay for a similar product through the advisor channel,” he says. The total cost of Invisor’s services, including management expense fees, trading fees and Invisor fees, will come to approximately 1%-1.1% annually for most clients, Udiaver says. The firm will use primarily lower-cost F-class mutual funds in order to keep costs down for investors. “We can add value beyond just a benchmark return.” “We don’t want to throw that out the window and say there’s no value for active ,” he says.
Udiaver says there is a role for both actively and passively managed products in a client’s portfolio. Unlike most robo-advisory services, which primarily use ETFs in portfolio construction, Invisor also incorporates mutual funds. “We really want to make this an independent platform,” he says, “where we can use the products that we believe are most appropriate for our clients.” Independence is a key component of Invisor’s robo-advisory platform, Udiaver says, noting that the firm’s portfolio managers will choose funds from all providers based on various selection criteria. The robo-advisor platforms recommend an appropriate asset allocation for clients based on factors such as risk tolerance, age and financial goals. The firm’s services provide clients with an online alternative to working with a financial advisor face-to-face. Invisor is one of several robo-advisor platforms that have emerged in Canada in the past year. “We want to make it easy and we want them to focus on their goals while we take care of what’s the best portfolio for each of their goals.” “We want our clients to start by thinking about their goals and not to worry about what product to select and what account to open,” says Pramod Udiaver, co-founder and CEO of Invisor.
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