1. Issue3
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SYLVAIN
THÉRIAULT
President of Desjardins
Private Wealth Management

2. WealthMANAGEMENT IN CANADA
PRIVATE
Sylvain, can you tell us a little about
Desjardins’ Private Wealth Management?
Very few people know that Desjardins’
Private Wealth Management (DPWM) has
been around for a little over 2 decades.
In 2014, when I first took over the firm,
I knew from the start that I wanted people
to get to know us and recognize the
firm as a market leader. Differentiating
DPWM from the competition is not one
easy task. In the private banking industry,
the challenges are numerous, and the
competition is fierce.
What are the biggest challenges facing
private wealth management in Canada?
Amongst other things, digital access is a
primary concern. In recent surveys, two-
thirds of high net worth clients say they
are likely to leave firms that do not allow
them to transact digitally. At Desjardins
Private Wealth Management, we believe
that we need to adopt a transformative
mindset that integrates digital throughout
the overall client experience. Digital
access may not be a goal by itself,
although, it is a necessity for the firm’s
survival. Private wealth management is
an exposed industry since its established
business model is confronted by digital
technology; the phenomenon creates
challenges in delivering progressive client
experiences while it can also represent
huge opportunities such as harnessing
the power of collected data to generate
intelligence that can drive strategic
decisions. In an effort to develop
a digitally integrated client experience,
we also believe that Desjardins’ Private
Wealth Management stands a better
chance at creating durable bonds with
the new generation.
Always having in mind a simplified
client experience, another one of our
challenges is making sense of the new
regulation without impacting client service.
Regulation is increasing, and it is not built
to fit a pleasant and simplified experience.
Facing that fact, we try to create solutions
that will meet both the authorities’ and the
client’s expectations.
Desjardins’ Private Wealth Management
is also concerned with making sense
for the new generation. Private wealth
management as grown in a comfortably
established business model that was
mainly adapted to Baby Boomers and
their way of life. The future of the firm
relies on a younger well-off, intelligent,
independent and more educated
generation. Their need for useful and
relevant information and rejection
of hype are marked characteristics.
This is due mainly to education and access
to information offered by the Internet.
They are savvier and are looking at a
financial institution as a validation of their
own hypotheses rather than a hard-board
advice. They tend to search for authenticity
and active participation, two important
elements to be considered for the
development of a durable bond.
AMERICAS INTERVIEW
3Issue 32 Issue 3
Americas
Sylvain Thériault, President of Desjardins’ Private Wealth Management,
discusses private wealth management in Canada with Global Banking
& Finance Review.

3. Issue 34
AMERICAS INTERVIEW
Where their grandfather was looking for
sound advice from an expert a few times
a year, they are logged 24 hours a day,
having pursued brilliant studies abroad,
themselves expert in finance, marketing
or management, and are rather seeking
confirmation or validation from their private
wealth manager. Their time is valuable,
and they generally refuse a rigid frame and
preprogrammed activities. In the pursuit of
this new generation, DPWM has put together
a dynamic team of experts that resembles
them and reaches out. We put families at the
center of our priorities and make it a point of
honor to meet everyone’s needs.
How do you approach private
wealth management?
We consider wealth management as
a private entourage for our clients. Our
Private Client Team is dedicated and
accompanies the client through all the
wealth management domains; our experts
analyze the overall portrait – the personal
and professional situations are often lacking
coordination, which can result in a weak
global strategy – to obtain tax optimization.
We also overlook the business transfer,
the intergenerational transfer, manage
daily banking needs and help achieve
philanthropic ambitions. Basically, we are
present in every aspect of our client’s lives.
What are the current trends you see
taking place ?
The private wealth management market
is shifting towards a new model. Firms
offering traditional financial solutions as
well as integrated banking models are
best positioned to provide the full range
of complementary products and services
suitable for high net worth families.
At Desjardins Private Wealth Management,
integrated approach proposes all services
guaranteeing complete guidance in regards
to wealth management.
Philanthropy is also an important aspect
of the high net worth market. The vast
majority of high net worth clients believe
that driving social impact is important,
especially the younger generation. While the
desire to make a positive social impact cuts
across all wealth segments, emphasis on it
correlates with wealth level. If philanthropy
has been present in our society for a long
time, it is currently evolving. We can see a
growth of interest in relation to the social
balance and the positive impact it can have.
Traditional vehicles are at hand; community
foundations, private foundations, structures
and fundraising for charities are all ways
to help others. However, the interest for
customized solutions is increasing.
The emergence of the endowment is
undeniable. The objective is to redistribute
in the community, part of the fortune of
its donors, without the complications of
a private foundation. One of the significant
challenges faced by the philanthropic
industry is the lack of standardized
and reliable metrics that allow effective
measurement, management, and
communication of the investment.
Desjardins Private Wealth Management and
Desjardins Foundation have partnered to
create a simplified solution that solves all of
the above; we have come up with a custom
fund that will certainly satisfy our high net
worth client’s desire to give back to society
as well as clarify the details regarding the
donation. The global strategy also serves
estate and tax planning purposes.
What are the future opportunities for
wealth management?
Research shows that high net worth
families tend to work with fewer firms,
despite the breadth and variety of
their holdings. Not only can we offer
comprehensive financial solutions through
a single access point, we monitor our
client’s financial health and are able
to foresee unfavorable risk in their
global strategy.
5Issue 3
AMERICAS INTERVIEW
Sylvain Thériault
President of Desjardins’ Private
Wealth Management
Desjardins Private
Wealth Management
provides an exceptional
and unique client
experience tailored for
the whole family, so
that we may nourish
a sustainable client
relationship from one
generation to the next.
The new generation of high net worth individuals:
24/7
WHO ARE THEY WHAT ARE THEY
LOOKING FOR
CONNECTED
SOCIAL
IMPACT
SMART, INDEPENTENT
AND EDUCATED
Well
informed
(thanks to internet access)
Participate
actively in their
financial affairs
Validation of their own assumptions
ONE-STOP
SHOP
TIME
Authentic and personalized experience
£

4. Desjardins Wealth Management Private Wealth Management is a trade name used by Desjardins Investment Management Inc. and Desjardins Trust Inc. Discretionary portfolio
management services are provided by Desjardins Investment Management Inc., registered as a portfolio manager and as an investment fund manager. Trust services are provided by
Desjardins Trust Inc., federal trust and financial planning firm.
desjardinsprivatemanagement.com
YOUR LIFE. YOUR WEALTH.
YOUR WAY.
Under one roof, an entourage of
experts adding value to your wealth.
• Tax optimization
• Business transfer
• Estate planning
• Portfolio management
• Philanthropy
AWARDS
G
LOBALBAN
K
ING & FINA
NCEREVIEW
BEST
PRIVATE
WEALTH
MANAGEMENT
COMPANY
CANADA
2016
Proudly named
Best Private Wealth
Management Company
Canada 2016