by Scott Ronalds

Last month, we shared the exciting news that Steadyhand is joining Purpose Unlimited. Now, we want to address your most frequently asked questions and dive a bit deeper into what this partnership means for you, from the benefits it will bring to investors to the core aspects of our business that won’t change.

What benefits should I expect from this partnership in the short and long run?

In the near term, we’re focused on improving your online experience. This includes upgrades to the client portal and simplifying administrative tasks like password resets, personal updates, and opening new accounts (we know we’re a little behind the competition here). With Purpose’s tech expertise and resources, we’re excited to improve your digital experience together.

Looking further ahead, Purpose aims to provide our Investor Specialists with better tools and solutions to manage portfolios and financial plans. This means we’ll be able to enhance the level of advice we provide and allow our client service team to concentrate on the conversations that matter most. As always, our focus will be on keeping things simple and clear, with a human touch.

Will the Steadyhand funds change?

No, the Steadyhand funds are not changing in any fundamental way. The investment philosophy we’ve adhered to since our inception nearly 20 years ago is here to stay. Purpose shares our long-term approach and is committed to preserving what makes Steadyhand unique.

Our Chief Investment Officer, Salman Ahmed, will continue to play an important role in managing our funds and shaping our investment strategies. We’re also excited to leverage Purpose’s strengths — particularly in retirement solutions and fixed income — to further enhance what we offer.

Will my fees change in any way?

Steadyhand’s fee model and philosophy won’t change because of the Purpose acquisition. Like us, Purpose believes that low fees are crucial to investor success, and is committed to keeping fees low, clear, and competitive—so you keep more of your returns.

We have made changes to specific fund fees in the past—both up and down— and if we ever consider any future adjustments, we’ll communicate them clearly and well in advance.

Who is Purpose Unlimited, and what do they do?

Purpose Unlimited is an independent Canadian-owned financial services firm based in Toronto. They run three main business units:

• Investment products and solutions, through Purpose Investments. 
• Wealth management, supporting advisors and clients with tools and planning services through Purpose Advisor Solutions. 
• Small business lending, through Driven.

Purpose’s mission is to be the leader in modern, client-focused financial services. Their values align closely with Steadyhand’s, which is one of the key reasons we chose to partner with them. They believe in delivering great advice, keeping costs low, and making the client experience more human.

Will there be changes to Steadyhand’s advisory team or client relationships?

No, nothing is changing with the team you work with or how we deliver advice. The relationships our clients have with our Investor Specialists are at the core of what we do, and that’s staying the same. You’ll continue to work with the same people you know and trust, with the same focus on clear-cut advice.

Over time, our goal is to strengthen what we offer—by incorporating better tools and technology—but the core of our advice model won’t change.

What will happen to the Steadyhand name and brand?

Purpose plans to preserve the Steadyhand brand. Over the years, we’ve built something special—from our voice and identity to the client experience—and Purpose recognizes and values what makes Steadyhand unique.

Purpose will take some time to explore how we best fit within the broader organization. We’ve refined our brand over time, and if there are changes down the road, they will be handled with care.

What will happen to Steadyhand’s Vancouver office and West Coast presence?

Steadyhand's presence on the West Coast isn’t going anywhere. The Vancouver office will keep running just as it always has. We look forward to continue welcoming those of you who enjoy visiting us in person for a portfolio review over a coffee or handful (or two) of chocolate-covered almonds. Don’t worry, the jar will always be full.

The goal of this partnership is to build on the foundation we’ve created and make your experience even better. If you’re looking for further information, our dedicated webpage is a great resource. And you can always reach us at 1-888-888-3147, where you’ll promptly get the same friendly voices and service you’re accustomed to.