Protect and preserve, no matter what.
This is the mission and mandate of AMIRI Wealth Management. Founded by Iqbal Amiri in 1999, this mission has carried AMIRI through nearly 30 years of Alberta’s challenging business landscape. More importantly, for Iqbal, this mission has carried AMIRI’s clients through changing times, helping each client to focus on the broader picture, make smart investments and preserving wealth long-term.
Iqbal started his career in financial services in 1991.
“I was working with a national insurance carrier doing home auto insurance and some financial services,” he explains. “However, I felt that I wanted to focus specifically on financial services and I wanted to be able to access all of the vendors available, not just one for my clients. I wanted to see what is best for the client, not what’s best for one company, which is not always the same.”
He made the decision to launch AMIRI Wealth Management in support of this goal.
“I started with myself and my wife working as my assistant. So, there were two of us, but we were expanding and started to grow significantly, so incorporating was the natural course of action. In 2008, we bought our own office condo, which was a big deal for us because at that time, the world was going through great recession. We wanted to show our clients with that purchase that we are here for the long haul and not going to suddenly go out of business overnight.”
While funding was difficult for small business owners during that recession period, AMIRI’s financials and clientele were strong enough to assure lenders of the company’s soundness.
“We were able to secure funding,” Iqbal continues, “and start to expand through rural Alberta. We purchased another practice in 2010, then purchased another office in 2014 in Camrose.”
The professional milestones kept on coming, and Iqbal and his wife achieved a personal milestone too when they challenged themselves to climb Mount Kilimanjaro. The successful summit is a treasured memory for the couple.
The focus is always on AMIRI’s clients’ long-term success by blending expertise with clients’ goals.
“We take a holistic approach to working with individuals, helping them grow their wealth while saving, planning effectively for retirement and preparing for generational wealth transfer,” he explains. “Our investment philosophy centres on a defensive portfolio with growth opportunities. While all investments tend to perform well when markets are up, the real question is how they hold up during market downturns. We’ve been very successful in selecting investment portfolios that can weather the storm, giving our clients peace of mind that their retirement savings are secure. In fact, many of our clients who are now drawing income from their registered retirement income funds have seen their assets either remain stable or even grow, despite withdrawing from them for several years.”
Iqbal says the key is simply, “Looking after the clients.”
“It is important to think from their perspective. The best example of this was proved during COVID. I had already planned ahead for continuous uptime long before the pandemic became a reality. AMIRI was fully integrated with phones, laptops and security measures for in and out of the office. When COVID hit, we were prepared, thanks to thinking ahead. We always focus on ensuring the clients know we are here, even when the markets and the world are volatile. They need to know what is happening and not have a knee jerk reaction based on news headlines.”
Iqbal has never been one to think there is a deadline on personal or professional improvement. When he turned 50, he registered for the intensive leadership program at Richard Ivey IEP program. He has also successfully completed the Intensive Mediation training program at Harvard University; is a charter member of the Canadian Initiative for Elder Planning Studies; is an active member of Advocis, Canada’s largest association of professional financial advisors and is also associated with the Conference for Advanced Life Underwriting.
“Everything learned can transfer into better daily client service,” Iqbal smiles.
He is also very committed to giving back to the community, particularly to the Aga Khan Development Network (AKDN).
“The AKDN,” he explains, “is a global organization dedicated to supporting communities, particularly in Africa and Asia. They focus on healthcare, education and women’s development. After all, when people are well fed and educated, their lives and behaviours are vastly different compared to those facing hunger and a lack of knowledge.”
Being asked by industry associations to speak at conferences or talk to peer groups truly stands out to the company founder.
“That is an endorsement, recognition and respect of AMIRI’s successes.”
With many milestones and active industry and community involvement, many are surprised to learn that the AMIRI office has a corporate culture that seems very laid back.
“We have a flat process and no CEOs. Everyone has fun doing what we do, and everyone has a say in the process and how we serve our clients. The environment is casual and 100 per cent focused on our clients. We have a games room in the office. When someone is looking at the screen and is tired, they can take a break and go play ping pong, read or listen to music. They can clear their mind, settle their eyes and return refreshed.”
With his decades of experience in financial services, Iqbal has some sound advice to share.
“If there’s one thing I could tell people, it’s this: be cautious with the internet. There’s an overwhelming amount of misinformation online, and it’s easy to mistake something for the truth. For every fact, there are thousands of misleading pieces of information. This is especially concerning because fraud is so prevalent. I urge everyone to verify their advisors through regulatory bodies to ensure they are registered. Many scams are run by charismatic individuals who exude confidence but lack proper credentials. That’s why it’s crucial to ensure people have access to accurate information.
“For instance, when it comes to deposits, legitimate advisors never have direct access to your money. Everything is heavily regulated, which is a good thing – it protects Canadians. The regulators are doing an excellent job, but it’s still important to check registries and confirm that the professionals you’re dealing with are properly registered.”
He adds, about thinking long-term, “Consistent planning and saving – like a steady drip filling a bucket – can make a big difference over time. Risk management is equally important. Many people don’t think about the possibility of illness until it happens, but I’ve seen firsthand how critical it is. We’ve paid out (critical illness) insurance to so many individuals diagnosed with illnesses, and it’s a reminder of how essential proper planning and protection are.”
As AMIRI Wealth Management approaches 30, Iqbal looks back with gratitude for the team, clients and community he serves. He also says a big thank you to his wife, Shamin Amiri.
What does the future hold? He is happy to share, “The future is to continue to serve my clients for as long as I can. I enjoy what I do. Right now, the clients are enjoying the retirements they planned with me 25 years ago. It’s nice to see.”