Alibaba, a trailblazing Chinese internet giant, will soon go public. Richard McKenster Financial Planning (RMFP), an independent financial advisory firm, announces its expansion.
In 1999 Mr. Ma began connecting small Chinese manufacturers to potential customers, including customers overseas. The workforce were earning less than 550 Yuan (then $70) a month. Since then Alibaba has become the dominant internet retailer in China. Last year the company processed 1.1 trillion Yuan ($170 billion) in transactions, more than Amazon and eBay combined. While still privately owned, an IPO is expected to take Alibaba public in the near future. Creativity and drive to create greater value are at their core.
At RMFP, the search for more value has driven the firm to enter into an extension of service, available at a lower cost to our clients.
In 1996, Richard McKenster Financial Planning began an expansion which started with the second office opening in Calgary. Staff was spread thin and original documents had to be FedEx’d daily to remain timely and responsive. Since then, the advance of technology has allowed the firm to serve clients virtually, without regard to location, while increasing production effectively.
The addition of Cardinal Capital (www.cardinal.ca) to the RMFP value proposition now provides price-competitive access to separately managed accounts and private investment portfolio services. The role of RMFP as the financial planner for our clients remains consistent, yet the 'second voice' of Cardinal Capital demonstrates a dramatic increase in confidence in independent advice for our clients.
RMFP remains privately owned and is consistently driven to deliver value to our clients. For example, the Manulife Monthly High Income Fund published portfolio returns for the quarter ending March 31, 2013 at 6.6% over 90 days, and 11.1% over one year. The core value of consistency remains.
The changing nature of growth is a big reason we have sought a sound, value-driven second voice. Clients want more information at a less expensive search and management cost. With Cardinal Capital, RMFP is well positioned for the next wave – the relentless and never-ending volatility of markets, both nationally and globally.
RMFP gives serious attention to its culture. Assessment of key values such as integrity, teamwork and consistency make up half of performance reviews. RMFP's legacy is creating trust and ever increasing long term value for our clients.