The shingle reads “Financial Advisor,” but it could just as well say “Relationship Builder.”
That’s because a long time ago, Andrew Smith, who came up the hard way, learned an old adage first-hand: “Treat others as you would like to be treated.” Smith served coffee and donuts, made sandwiches, and moved furniture. A change in the colour of his collar from blue to white saw him selling VOIP solutions for Telco companies, until, finally, he found the insurance industry. Today, he heads Andrew Smith Insurance Inc., a branch of The Co-operators.
Over the long climb that has constituted his career, the Smith’s Falls native has survived his fair share of unsympathetic superiors and challenging employees. Each experience only served to deepen his humane take on interpersonal relations. “My philosophy is to take care of our clients and provide the tools and support they need to take care of themselves and their families. I think if you were to ask my team what kind of ‘boss’ I am, they would say I am caring, supportive and that I encourage them to get the best for our clients.”
Note the quotation marks (his) around “boss”—what Andrew promotes is a level playing field where everyone is treated with respect. What more fitting place to be than one named The Co-operators? “I chose this company for their corporate values and community support,” Smith explains. “They enable us to provide expert advice to take care of what people need, as opposed to just being salespeople looking to close a sale. It’s not about the cheapest rate; it’s about providing options to meet our clients’ needs for the best value.
“I provide advice and offer suggestions on how to best protect your family, assets, business, and retirement. I don’t focus on one specific product or service. I provide a holistic approach. I like to sit down with a client and discuss how my team and I can assist them. We may not have the best rate on all products, but I can guarantee we offer the best advice and service.”
These days, auto insurance has become more complicated than ever with more options available to consumers, and many being offered online or leveraging Artificial Intelligence (AI), without customized guidance and support. “Since auto and home insurance are mandatory,” says Smith, “my team focuses on providing coverage specific to each person or family. Every situation is different. We help explain coverage and offer eligible discounts and group rates.”
AI, in fact, is shapeshifting all aspects of the insurance and investment game. As its machinations are little understood, it’s an ideal time for a serious sit-down with folks as savvy and compassionate as the people who make up Team Smith.
“We work hard to support our clients in making their money work for them. We keep up to date on savings and investment vehicles such as GICs, Mutual Funds, and customized plans so that we can provide the best advice and options.”
As proof that he’s as practical as he is personable, Smith volunteers the following formula for those considering the biggest financial concern of all, retirement: “Take your annual income today and multiply by the number of years you wish to pay yourself in retirement. If you need $50,000 a year for 20 retirement years, then you need a minimum of 1 million dollars saved.”
Another way to protect yourself, your family, or your business, according to Smith, is through life insurance and critical illness. “Those who have life insurance through work often don’t have enough coverage to pay off their mortgage or cover income replacement for their partner. We provide an in-depth analysis to uncover specific needs. Term insurance would cover immediate needs such as mortgage, debt, education costs and income replacement while permanent insurance would cover final expenses, estate tax, and charitable giving. Critical Illness plans provide a lump sum pay out if you are diagnosed with one of the covered illnesses. The top three would be heart attack, cancer, or stroke. Most group benefits plans don’t offer this so it’s important to have your own coverage in place.”
Smith and his team habitually give back to local causes. Team members are encouraged to use volunteer days to participate in a charitable event in which they have a personal interest. “By having volunteer days in addition to their regular vacation days,” says Smith, “they are rewarded for being part of the community.” Some examples of organizations the team has supported are the Royal Ottawa Mental Health Centre, the Heart and Stroke Foundation, Diabetes Canada: D-Camp for Kids, and Special Olympics Ottawa. “Investing in the communities where we do business is a core value of The Co-operators brand and I am happy to give back.”
You can summarize the philosophy of Smith and his team, then, into two words: We care. “We care about our clients having the right plan in place for the unexpected,” Smith elaborates. “People can go to any Co-operators office across Ontario. The core products are the same, but we want them to come see us. We want them to call, stop by, or reach out anytime. I’ve taken the time to assemble an amazing team of knowledgeable and caring people. I trust them to always take great care of those we serve.”
By Dan Lalande
