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NOVEMBER/DECEMBER 2013 NEWS/POLITICS/FOOD/ARTS/SPORTS/FASHION/LIFESTYLE $3.95 Dressedfor the up holidays GIFT IDEAS FOR THE WHOLE FAMILY Bus Driver Fatigue: A Fatal Threat The Seely Family — Ottawa’s Medical Pioneers www.ottawalife.com Philadelphia Holiday Gift Guide Tim Hudak Canadian Coast Guard College1 OTTAWALIFE NOVEMBER 2013 DISPLAY UNTIL JANUARY 2014 * * * It’s not by coincidence that Kash J. Pashootan & Nicholas Allaham each have 12 years of professional experience, both are Chartered accredited professionals in their respective field, both were top rising stars at their respective firms, and now have joined forces to disrupt the high-net-worth wealth management industry as we know it. he is still ramping up and nowhere near thinking about retirement. Although, he has already established a reputation across Canada as a Portfolio Manager that delivers results for his clients. Kash is on top of the rolodex for the most highly respected media sources as the go-to expert for his insights with economic and market happenings. It is clear Kash takes the time that many don’t. Although headquartered in Ottawa, this year Kash has appeared in: Bloomberg, Globe and Mail, National Post, Washington Post, Hong Kong Times and the Wall Street Journal. This is over and above his frequent appearances on the Business News Network. When I asked him how it felt to receive such widespread recognition; “For me it’s just sharing the work we do every day. It is certainly a compliment but I am clear on what my main priority is each and every day: deliver results for my clients”. BUILT BY DESIGN BUILT After building an impressive 10 year track record for portfolio management, it was time to further distinguish his practice from his competitors. He knew exactly how he was going to achieve this: combine portfolio management with in-depth wealth planning for his clients. Kash holds a firm belief that doing financial planning is simply not enough. Tax planning with regards to a client’s financial strategy needs to be incorporated into the planning. More importantly, it needs to be an ongoing commitment on behalf of advisory teams. When Nicholas Allaham and Kash J. Pashootan it came time to choose his business partner, Kash reflects “Nicholas was a clear choice; he is regarded as one of the As I walked into Kash Pashootan’s corner office, surrounded leading financial and tax planning specialists in Ottawa. While by windows I immediately noticed the attention to detail from working at Deloitte for over 10 years, planning and executing stark amethyst rock sculptures to black and white photography. strategies for high-net-worth clients, he has earned great I sat down on the couch and commented on how beautiful it respect among his clients and colleagues. My main concern was. Kash looked at me with intensity; he had several other at the time was that they weren’t going to let him go easy”. things on his mind, and with a half-smile said: “my furniture Both Nicholas and Kash had been working together for 8 years here gets used more than my furniture at home”. His focus and while Nicholas was at Deloitte. They had a handful of mutual passion was contagious. clients. Nicholas was looking after the tax planning strategy as the clients’ Chartered Accountant and Kash was looking after As a Vice-President and Portfolio Manager, Kash Pashootan their investment strategy as their Portfolio Manager. They holds the Chartered Investment Manager designation. He began meeting with clients together and saw how powerful manages the largest practice and is the sole advisor with this became for them. Working together naturally evolved and a Portfolio Manager accreditation in the Ottawa Raymond the advisory board concept was born. “Clients repeatedly told James’ offices. Without knowing his age, it was clear that us they have never had such depth to their financial strategy PHOTOS: THEAK CHHUOM regular basis. This regular contact brings them closer to each client and is an ideal way to identify planning opportunities to further discuss with their respective accountant. “Our clients have an advantage”; Kash Pashootan states. “We deliver an equal commitment to wealth planning as we do to investment management by having a dedicated professional for each. Our approach extends to address much more than retirement planning, to also include income, tax and estate planning”. Is it working? Yes; First Avenue Advisory’s assets by having their tax plan correspond with their investment plan” under management have grown 20% per year over the last 5 Kash tells me as his eyes wander over to one of the several years, as their team is delivering this service at an all-in cost screens in his office reporting real-time market data. The two lower than a mutual fund management fee. Their passion for of them spent over a year discussing how their partnership the markets extends to our next generation with both of their would work. “It was a well thought out decision”, Nicholas active involvement with Ottawa’s Universities. Kash has been Allaham added. “I had great respect for Kash as I would see working since the beginning with Telfer School of Management firsthand how happy his clients were when I would meet them at University of Ottawa on their Capital Markets Mentorship given I was their tax advisor; when I was at my previous firm. Program which continues to grow each year. Alongside the They generally all had the same things to say: Kash has fierce mentorship program he is delivering guest lectures for a work ethic, he cares, and he has made us money”. Given variety of finance courses. Kash’s contributions earned him the Nicholas’ role as a Senior Manager in Tax at Deloitte, he has Dean’s List Outstanding Contribution Award in 2012 as well met with all of the prominent investment managers in Ottawa. as the Educator’s Honour Roll. Business partner, Nicholas is a What Kash was doing for his clients was preeminent compared lecturer at the Sprott School of Business at Carleton University to his competitors. Nicholas tells me, “When we started on such topics as Financial Accounting and Federal Income exploring a partnership we knew exactly what the opportunity Taxation in Canada. He has also served as Tutorial Leader for was: Delivering to high-net-worth families and professionals the Canadian Institute of Chartered Accountants’ In-Depth Tax an experience they were not currently receiving regardless of Course. what firm they were dealing with. It is not enough to simply have a sound investment manager and a tax advisor. There is I was interested to learn how Kash and Nicholas have leveraged a clear need to bridge the two with the pursuit of integrating First Avenue Advisory’s brand and influential client base to a client’s wealth strategy”. Although Nicholas is a Chartered support local causes here in Ottawa. They are actively involved Accountant, the First Avenue Advisory team is not looking to with causes ranging from Ottawa Cancer Foundation, Epilepsy replace the client’s existing accountant or compete for that Ottawa Carleton, and Ottawa Hospital Foundation. As I looked business. Nicholas’ role is to work closely with clients to at Kash’s desk which was covered with stock charts with customize their wealth management experience. This includes scribbles on it from his fountain pen and florescent highlights, identifying tax planning opportunities during the in-depth I felt these two didn’t re-invent the wheel but have figured out retirement planning that he does and work alongside the how to execute it. A Chartered Accountant and a Chartered client’s existing accountant to integrate investment strategy Investment Management working full-time on behalf of clients; with tax strategy. simplicity continues to be the ultimate sophistication. The First Avenue Advisory team meets with their clients on a www.firstavenueadvisory.com DISPLAY UNTIL OCTOBER 31, 2013 Ottawa Life Magazine Spread.pdf 1 13-10-17 8:51 PM Pair up with Hong Kong Your best partner in Asia Canada may be thousands of miles from Hong Kong, but our Economic and Trade Office in Canada can help you bridge that gap. Thanks to our prime location, global connectivity and enterprising culture, Hong Kong – Asia’s premier business hub – is the ideal partner for companies in Canada to tap opportunities in booming China and Asia. Just like chopsticks – we can work better as a pair! To find out how companies in Canada can benefit from Hong Kong’s many advantages, please contact: Hong Kong Economic and Trade Office Tel: (416) 924-5544 E-mail: [email protected] For more information on business opportunities, please visit www.InvestHK.gov.hk Breakfast Networking Seminar “China Passage: Are We Missing The Boat?” Honourable Stockwell Day, Senior Strategic Advisor, McMillan LLP Tuesday, November 19, 2013 7:15 a.m. to 9:00 a.m. Parliamentary Restaurant 6th Floor, Centre Block Parliament Hill Please register by e-mail at [email protected] by November 8th, 2013. For help setting up your business in Hong Kong, visit www.InvestHK.gov.hk, or get in touch with the Hong Kong Economic & Trade Office in Toronto. Tel: 416-924-5544; E-mail: [email protected] Ottawa Life Magazine Spread.pdf 1 13-10-17 8:51 PM Pair up with Hong Kong Your best partner in Asia Canada may be thousands of miles from Hong Kong, but our Economic and Trade Office in Canada can help you bridge that gap. Thanks to our prime location, global connectivity and enterprising culture, Hong Kong – Asia’s premier business hub – is the ideal partner for companies in Canada to tap opportunities in booming China and Asia.