PROFILE A Life of Purpose

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1 PROFILE A Life of Purpose Working in financial services can become so all-consuming one has little time for outside pursuits. Complicating the issue, we increasingly encounter conversations and articles about the ever-elusive concept of work-life balance. Meet five advisors who, despite their busy careers, find the time and energy to work in their communities for causes they believe in By Al Emid 10 FORUM JUNE / JULY 2013

2 Leading by example Terry Zavitz, CFP, CLU, CHS, a 30-year veteran of financial services and president of London-based Zavitz Insurance Inc., is a longtime volunteer. She currently sits on the Human Resources Committee of the St. Joseph Health Care Centre, and in the past has served as vice-chair and chair of the London Health Sciences Foundation, where she now sits as a board director. Zavitz s interest in healthcare stems from her personal and professional background: her father had been a doctor, and many of her clients are medical professionals. In 2010, Zavitz took a break from her community-based endeavors to become the chair of Advocis a volunteer position that involved travelling across the county to meet with Advocis members, regulators and politicians. After her oneyear term ended, she became involved in the Financial Strengthening Program, a start-up program for financially disadvantaged individuals. Zavitz says she has learned more about working with people and organizations through her volunteer efforts than in any other activity. It s like getting your MBA for free, she adds. While Zavitz may not have an actual MBA degree on her wall, she does have other awards, including the Queen Elizabeth II Diamond Jubilee Medal she received last year for her work in community service and leadership. Terry Zavitz (middle) is presented the Diamond Jubilee Medal by Ed Holder, MP, London West. [Volunteering] is like getting your MBA for free. Terry Zavitz, Zavitz Insurance Inc. Allain Labelle plays Santa Claus. ILLUSTRATION: MASTERFILE It s all in the giving Allain Labelle, CFP, CLU, CHS, TEP, a Sudbury, Ontario-based advisor with Manulife Securities, focuses much of his volunteer efforts on children battling cancer. Labelle was inspired by Camp Quality, a camp for children with cancer with locations around the world includ- Every morning you wake up knowing that [you re a giver.] Allain Labelle, Manulife Securities JUNE / JULY 2013 FORUM 11

3 PROFILE [I wanted to] ensure there s a more substantial Iranian community that we all contribute and give back to [in order to] make it easier for newcomers to get established. Tina Tehranchian, Assante Capital Management ing Sudbury. He began volunteering in the kitchens during the summers of 2010 and 2011, and will return again this year. When I heard about the good [these volunteers] were doing for these kids, [I thought] I needed to get involved, he recalls. Launched in Australia in 1983, Camp Quality is a non-profit, volunteer organization that provides week-long camping experiences and year-round support for children with cancer and their families. The camp is fully funded by donations, Labelle explains. There s no government support and it s been going for the last 25 years, says Labelle, who is also active on the fundraising side. In 2011 he organized 16 teams of six cyclists comprising friends and clients. Labelle s effort paid off: he raised $45,000 for the camp. For Labelle, who has been working in financial services for the past 41 years, volunteering has helped define who he is and what s important in life. Every morning you wake up knowing that [you re a giver], he says. Paying it forward An Iranian immigrant who came to Canada in 1990, Tina Tehranchian, CFP, CLU, CH.F.C., manager of the Richmond 12 FORUM JUNE / JULY 2013 Hill, Ont. branch of Assante Capital Management, still recalls the difficulties of settling in a new country. Much of the volunteer work of the 22-year financial services veteran has been focused on helping those with similar challenges. In 2000, Tehranchian joined the Iranian Advisory Council of Family Services in Toronto and co-spearheaded a subcommittee to help Iranian immigrants find jobs and address employment issues. This led to a group called the Iranian Canadian Employment Network, which included a mentoring program where professionals would mentor newcomers in the same field. Helping new immigrants has given Tehranchian tremendous satisfaction. When she and her husband and children came to Canada, they had no knowledge of employment service agencies or of mentors, and had to start from scratch to become established in their respective disciplines. That was my motivation to ensure there s a more substantial Iranian community that we all contribute and give back to [in order to] make it easier for newcomers to get established, she says. In 2005, Tehranchian chaired the first fundraising gala for the Encyclopedia Iranica Foundation, a Columbia University project for the development of an encyclopedia of Persian history and culture. The gala raised over $1 million. PHOTO: SARA KARDOONI

4 Today, Tehranchian, who was awarded the Fellow of FPSC distinction in 2011, sits on the board of governors of Seneca College, the board of the Mackenzie Health Foundation, the board of trustees of the McMichael Canadian Art Collection, and the Fort York Foundation board of directors. Giving back Floyd Murphy, CFP, CLU, CH.F.C., principal at Murrick Insurance Group in Vancouver, has a volunteer resume that includes political endeavours and a lengthy list of community activities. Up until 1992, Murphy, who has been an advisor for 42 years, had fulfilled every role in British Columbia politics with the then Progressive Conservative Party except Member of Parliament. He eventually took a 12-year break from politics, during which time he served as president of the British Columbia Unclaimed Properties Society, where he remains on the board today. The Unclaimed Properties Society receives assets, including unclaimed credit union accounts and property unclaimed by beneficiaries, and tries to find the rightful owners. Every year, the Society disburses funds to the Vancouver Foundation for charitable distribution. Murphy s desire to help those less fortunate stems from his own personal experience as a youth. An article in the Vancouver Foundation s magazine recounts a story of hardship for Murphy s family, who lost everything when their home burned to the ground when he was only 13. They had no insurance, and for two years the family had to rely on the kindness of others in order to survive. Murphy has also served on the Foundation s development committee for the past seven years, and fundraises for the is it time to unlock the potential of client portfolios? TIME TO TAKE STOCK In recent years, market volatility has kept many Canadian investors on the sidelines. While this approach may feel safe, it might be putting their long-term financial goals at risk. To help advisors educate their clients, we ve created the Time to Take Stock program. Time to Take Stock examines the current situation facing investors, the factors that influence financial decision making, and how investors might rebuild portfolios with a prudent equity allocation designed for the long term. It also provides three practical strategies for re-entering the market. To download our client-use Time to Take Stock brochure, visit franklintempleton.ca/takestock. For Dealer Use Only, Not for Distribution to the Public Franklin Templeton Investments Corp. All rights reserved.

5 PROFILE Alzheimer Society and the Vancouver Special Olympics. Murphy sees volunteering as an opportunity to stay connected to the Vancouver business scene as well as a chance to give back to the community by sharing his success with others. Finding a purpose Fred Ryall, CHS, aspires to live his life according to the poignant words of American author Robert Byrne: The purpose of life is a life of purpose. The president of Fred C. Ryall Insurance Agencies Inc. in Toronto finds his passion in the volunteer work he does in his community. I found my purpose, says Ryall, who has worked in financial services for 38 years. I m making an impact and I keep telling my kids that life only goes around once it s not a rehearsal. Ryall focuses much of his volunteer activities on children with special needs, an appropriate niche given his business focus on estate planning for families with special-needs children. His work with Cystic Fibrosis Canada, which has included raising $425,000 for the organization, earned him the Queen Elizabeth II Diamond Jubilee Medal last year. Ryall is a former board member of Jakes House, an organization for autistic children, and frequently gives estate planning seminars to families who are dealing with Down Syndrome, Amyotrophic Lateral Sclerosis (ALS), an often fatal neuromuscular disease, and 18 th Chromosome Deficiency, an abnormality that leads to medical and developmental problems in children. [When choosing a charity to work with, I ask myself] Is this a problem in society that is of interest to me personally? and, secondly, is this an issue that s going to be [prominent] in the next 20 years? Floyd Murphy, Murrick Insurance Services I found my purpose. I m making an impact and I keep telling my kids that life only goes around once it s not a rehearsal. Fred Ryall, Fred C. Ryall Insurance Agencies Fred Ryall (second from the left) is presented the Diamond Jubilee Medal by the Cystic Fibrosis Peel chapter. 14 FORUM JUNE / JULY 2013

6 to effective Seven steps volunteering Beyond medals and kudos, the experiences of these five advisors can be summed up in valuable lessons on how to become an effective volunteer. 1. Have a purpose Giving back is not about building one s client roster. In fact, overt client prospecting through one s volunteer activities can actually work against an advisor. Working in the charitable world doesn t bring you clients, and if you re there for that reason you will be found out sooner or later, says Terry Zavitz. Allain Labelle turns that equation on its head and recruits friends and clients for his fundraising bike ride and to volunteer at Camp Quality. I bring people in who know me and some are clients. Fred Ryall takes a slightly different approach with his estate planning seminars. While he does not bring business cards, he does invite attendees to determine whether his remarks resonate with them and leaves them with an invitation to make contact. 2. Know your strengths and weaknesses Not unlike the corporate world, volunteer positions also come with specific job requirements. The fit assumes as great an importance in volunteering as it does in the professional environment; therefore, matching the individual s needs and skills to the job at hand is key. You want to hone your skills and be of value, says Zavitz. 3. Get experience Depending on the role, volunteerism can require a certain amount of experience. When a well-meaning but inexperienced individual approaches Zavitz about joining a volunteer board, she recommends the person starts on a committee to gain experience and an understanding of the organization. 4. Understand the requirements In addition to a giving spirit, volunteering can require strong administrative and organizational capabilities. You have to be very disciplined and very organized, says Ryall, who starts thinking about his charity golf tournaments eight months in advance and uses a template of steps for organizing them. 5. Do the due diligence Selecting a volunteer affiliation means doing the due diligence. Last year, after finishing his term on the board of the Vancouver Foundation, Murphy looked for new charitable involvements and had a list of criteria for making his choice. I don t have the authority or the wherewithal to determine whether something is a good charity or a bad charity, but I can determine if it is a charity under my rules, he explains. For Murphy this means checking the balance sheets, looking at how much money is spent on staff compared with how much gets through to the ultimate beneficiaries, and researching the cause. [I ask myself] Is this a problem in society that is of interest to me personally? and secondly, is this an issue that s going to be [prominent] in the next 20 years? he explains. At the end of the process, Murphy settled on the Alzheimer s Society. 6. Know the expectations Time management also looms large on the list of required skills, since volunteer recruiters often underestimate the time requirement. As a general rule of thumb, Murphy takes the amount of time a recruiter gives and doubles it. In addition to donating one s time, there can also be a monetary requirement. Costs can sometimes go higher than originally anticipated, and volunteers may be expected to make substantial cash donations. Tickets for an organization s gala can run up to $500 or $600 per couple, with an implied obligation that one attend the event. You have to be willing to put your money where your mouth is, says Zavitz. 7. Find your connection Openness to new experiences can bring rewards, as Tehranchian discovered when she was asked to join the Fort York Foundation. At first she hesitated. When you think about Fort York, it s mainly about Canada s military history and the War of 1812 Americans and the British fighting each other. That s what comes to everybody s mind, she recalls. Nonetheless, she decided to meet with the Foundation to get a clearer picture of its plans, including the Fort York Invigorated campaign. I sat down with them, and the more I learned about [the initiative,] the more I saw that there was in fact a connection, Tehranchian says. The Foundation s mandate, which included getting the diverse communities in the area to support Fort York Invigorated and receive recognition on the donor wall in the visitor centre lobby, was the connection she needed to get involved. Giving back to one s community requires more than a passion for making a difference in the world; it demands a huge output of time, energy and, sometimes, money. But the payoff for volunteering for a cause you are passionate about can be substantial and, as these five advisors have demonstrated, worth the effort. AL EMID is a freelance writer in Toronto and can be reached at financialnews@alemid.com. JUNE / JULY 2013 FORUM 15