Basically, it means managing the assets belonging to individuals. More often than not, these assets are securities, such as stocks, bonds, etc. as opposed to real estate assets. Integrated wealth management goes beyond that. It addresses all of the financial issues of an individual or family, including taxes, estate planning, present and future liquidity requirements, drawing-up a balance sheet for each member of the family, tax structures, etc. In short, it means organizing and coordinating the management of a family’s entire net worth.

Private management services are similar to wealth management services. Too often, however, the terms private or wealth management are used indiscriminately when in fact all that is offered is a series of investment products. Both private and wealth management require a consulting process with the client. Value is added because the client receives personalized advice and appropriate recommendations based on his profile.

Groupe conseil Wermenlinger is a commercial name used to designate the team working with Laurent Wermenlinger, Portfolio Managers. In fact, all of the members of the group are employees of Desjardins Securities.

We charge portfolio management fees. For all other consulting work*, we charge fees on an hourly basis.

* Services provided by Desjardins Securities Financial Services.

Of course, our service offering is flexible. Based on your requirements, we can accept a very specific mandate, or conversely, coordinate the execution of all of your financial strategies.

We believe that a well-structured investment strategy adds value over time with a higher level of confidence than a strategy based on instinct or on the forecasts of investment “gurus”.

Rather than simply selecting stocks or passively replicating stock indices, we construct our portfolios by including various asset classes according to risk and return criteria validated by scientific analysis.

Our objective is to maximize our clients’ returns through a strategic asset allocation and a strict control of risk

The term is used to describe a fundamental process of portfolio management which includes several steps:

The first step is asset allocation. The optimal weighting of each asset class included in the portfolio is determined based on a theoretical model that takes into account the expected return and historical volatility of each asset class.

The second step is tax planning. Certain asset classes such as bonds are included in registered accounts while other types of investments will be included in non registered accounts to substantially reduce tax consequences on the portfolio as a whole. Tax optimization also means that the manager considers the historical tax profile of his client and takes decisions intended to reduce taxes on the client’s revenue and capital gains.

Finally, knowing that the returns of each asset class can vary differently according to economic, business or market cycles, rebalancing is used to optimize, to the fullest extent possible, investments or asset classes or sub-classes according to the benchmark allocation of each portfolio.