From his 23rd floor office, Thane Stenner has a panoramic view of the Vancouver, BC landscape, which is a perfect parallel to his overview of the financial vista across Canada and North America. But this is not an overnight success story and Thane did not become established among the top entrepreneurial minds and investment experts in Canada and abroad overnight. His is a narrative of over 30 years in the making. From his earlier days as a managing director and institutional consultant for Morgan Stanley in the United States, to his current role as director of wealth management and senior vice president of Canaccord Genuity Wealth Management (Canada and USA), Thane has spent his career understanding and managing the unique complexities facing ultra-high net worth clients, entrepreneurs, family offices, and institutional fiduciaries. And, while Thane’s clients are the grateful beneficiaries of his steady expertise and commitment to his craft, the industry itself has recognized him with a cache of honors from Barron’s and other leading financial authorities.
Stenner Wealth Partners+ is a virtual, cross-border, boutique wealth management team within Canaccord Genuity Wealth Management Canada and USA, the largest independent investment bank in Canada and #1 for middle market deal flow. Thane began operations with experienced colleagues from his former StennerZohny Group of Graystone Consulting at Morgan Stanley in 2020, and by early 2021, the team ascended to already be one of the top performing groups within Canaccord Genuity Wealth Management. Dually licensed in Canada and the U.S., Stenner Wealth Partners+ operations are conducted in Vancouver, BC. To date, the company has selectively maintained only 43 key client relationships across both countries and these investors’ net worth ranges between $25 million and $2 billion. Although Thane attributes their success to the combined talents and efforts of his whole team, his commitment to world-class leadership cannot be overlooked.
Thane’s roles necessitate a leader with the skills to see the big picture and maintain a laser focus on the minutiae. Thane credits these skills to his father, who was also in the financial services field for 45 years. He is depended upon for relationship management, business development, portfolio construction, cross-border professional relationships, significant due diligence on third party active and passive investment managers, and heading the Stenner Wealth Partners+ investment committee, as well as other tasks inherent in running a top tier wealth management group.
The Top 100 Magazine spoke with Thane to learn more about Stenner Wealth Partners+ origin, how they’ve differentiated themselves in the industry, and the challenges of anticipating and catering to uber successful clients, including some of North America’s top entrepreneurs, family offices, and C-Suite executives.
Q: Thane, how is Stenner Wealth Partners+ unique from other wealth advisory teams?
A: Stenner Wealth Partners+ has 85 years of combined experience in preserving and efficiently servicing relationships with ultra-high-net-worth and institutional clients. What makes us different is our unique perspective for Canadian and American investors looking to expand their horizons and financial exposure beyond local markets. Over many years, we have developed an acute understanding of our clients’ specific needs, which allows us to tailor best-in-class custom solutions and strategies to achieve their long-term financial objectives. Furthermore, we are especially equipped through our team’s licensing and network of knowledgeable experts to service clients with cross-border wealth considerations.
Our target clients are typically those with a minimum household account size of $10M and a net worth of up to $2.5B. We’re highly selective—our goal is to bring on only eight to ten new relationships per year. We also have a very disciplined type of client, which is where the team’s experience with this segment of investor comes into play. Additionally, we participate in the full gamut of alternatives, which historically have performed exceptionally well.
Q: How does your experience in working in both the U.S. and Canada benefit your clients?
A: I’m cross-border licensed with FINRA in the USA, and with IIROC in Canada, so I’m fortunate to be equipped to serve investors across both territories. Our clients benefit from access to exclusive research and investment vehicles not easily accessible within Canadian investment portfolios. We are able to analyze and tap into global markets to provide valuable diversification, exclusive investment opportunities, and a unique perspective. This experience extends beyond traditional investing to a network of tax and accounting specialists, legal advisors, and wealth management solutions available globally to locally based clients.
Q: How do you assist clients with cross-border custom situations?
A: We have a unique infrastructure in place that allows us to custody and service clients and their assets on both sides of the Canadian/U.S. border. This involves setting up the necessary accounts to implement portfolio solutions while achieving the most advantageous tax treatment of our clients’ investments.
Q: One of your areas of specialty is managing liquidity events for entrepreneurs and investors. Tell us about this. Is this particularly important during times of economic/market volatility? Did you see a greater need for this during the pandemic?
A: Typically, this involves the sale of a business or the process of diversifying a large, concentrated stock position from a previous or current employer, or via an Initial Public Offering. We believe that a well-designed and diversified portfolio benefits the client in all situations, but this approach has been found to be most advantageous in periods of market stress and volatility in public asset classes. Diversifying your sources of return are also about managing your risk, while maintaining a broad approach of assets that work together in a portfolio setting, which often leads to greater long-term outcomes than concentrated wealth.
Q: Your firm is very involved in philanthropy and charitable endeavors. Why is this important to you?
A: We believe that giving back is an important responsibility as part of our community. I have had the privilege of donating my time to over 15 charitable organizations in the last 33 years.
Canaccord Genuity Wealth Management USA and Canada
Listen to Thane’s Podcast Produced by BNN Bloomberg Brand Studio: https://stennerwealthpartners.com/bnnbloombergpodcasts
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