MD Financial Management

md.cma.ca

MD Financial Management Jobs & Careers in Longueuil, QC

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10 days ago

Client Assistant

MD FINANCIAL MANAGEMENT INC. Montreal

As an experienced Client Assistant, your ability and desire to respond effectively to all client inquiries, in reference to account administration of… Glassdoor


30+ days ago

Technical Lead - Online Channel Development

MD FINANCIAL MANAGEMENT INC. Montreal

Why Your Career Will Flourish at MD - Success breeds success! MD is intently focused on attracting, building and retaining top talent. A career is… Glassdoor


30+ days ago

C# Web Developer

MD FINANCIAL MANAGEMENT INC. Montreal

Why Your Career Will Flourish at MD - Success breeds success! MD is intently focused on attracting, building and retaining top talent. A career is… Glassdoor


30+ days ago

Portfolio Manager

MD Financial Management Inc. Montreal

Why Your Career Will Flourish at MD – Success breeds success! MD is intently focused on attracting, building and retaining top talent. A career is… Glassdoor


11 days ago

Assistant Regional Administrator

MD Financial Management Inc. Montreal

Why Your Career Will Flourish at MD – Success breeds success! MD is intently focused on attracting, building and retaining top talent. A… Glassdoor


30+ days ago

Insurance Administrator

MD Financial Management Inc. Montreal

Why Your Career Will Flourish at MD – Success breeds success! MD is intently focused on attracting, building and retaining top talent. A career is… Glassdoor


MD Financial Management Photos

Creative Cooking at Ottawa’s Urban Element during MD’s Manager Regional Administration Conference 2012
At the 2011 Canadian Medical Foundation (CMF) golf tourney, we raised more than $267,000 to support the CMF
Ottawa Mayor Jim Watson and CTV’s Graham Richardson ham it up with members of our Client Delivery, Risk Management and Procurement Team.

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MD Financial Management Reviews

43 Reviews
4.0
43 Reviews
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MD Financial Management President & CEO Brian Peters
Brian Peters
33 Ratings
  • 1 person found this helpful  

    Management needs a thorough review of themselves and the organization

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Financial Consultant
    Current Employee - Senior Financial Consultant

    I have been working at MD Financial Management full-time (more than 8 years)

    Pros

    35 hour work week, instead of usual 37.5 or 40 (however, sometimes you are forced to work OT)
    Client Assistants can earn between $45k to $50k years + great benefits and OT pay on top.
    Advisory Team Co-ordinators (ATC position aka Senior Assistant) earn between $50k to $60k per year + benefits.
    (Great job for those who want to do admin work only...!)
    Nice, decent benefits and medical benefits.
    Some locations they will pay for parking (but considered a taxable benefit).
    Start with 3 weeks vacation when joining company.

    Cons

    A lot of young financial consultants and assistants at MD. Many are just university grads with some experience. Difficult for some senior or older physicians clients to grasp that a young chap or lady who is a consultant, let's say in their mid-20s (could be the ages of their kids) is to provide retirement and investment advice for them.

    Their motto is THE FIRST, THE BEST, THE ONLY ONE - a bit over the top and getting cocky.
    One of the qualifications necessary for a financial consultant is "A demonstrated track record of above average sales in a financial or related environment". This means by definition people that can SELL, SELL, SELL, and exceed sales goals to achieve personal and regional net new dollar targets. At some offices, it can resemble like a used car sales office, where they post and rank financial consultants and show month by month net dollar sales statistics and net new physician statistics in the common staff room. At other offices, the Regional Vice Presidents will provide monthly stats and year to date stats of individual consultants, but the stats can also include other consultants sales numbers that are visible to others. This can potentially create an unwanted atmosphere of competition and jealousy amongst MD advisors in the offices.

    Turnover amongst advisors can be high in some regions - which is one of the top complaints amongst existing MD physician clients.

    They recently implement and are expanding a position called "Associate Vice President, Wealth Services" at major urban centers in Canada - basically this position is just fancy title for a very outgoing, good talking Senior Sales rep. Their sales targets primarily focus on acquiring new physicians to join MD Management. They have a budget to wine and dine, host evening events, such as gourmet cooking classes, wine and cheese, dinners at nice restaurants and venues, or even sporting events to engage and hopefully acquire non-MD physician clients. They would even book movie theatres to entertain potential new clients. Once they engage in a potential new prospect, he or she will refer the business and relationship to a consultant at a local office. In my humble opinion, there are physicians that will never be MD clients, but will go and register for these free venues, at the expense of existing MD clients. Someone is eventually paying for this cost, and ultimately, it's the existing MD client. Unnecessary expenses and unnecessary position. Should focus on doing what's right for the client and existing MD clients will refer their colleagues to MD.

    LESS than 50% of the physicians in Canada are MD clients. You would think the penetration rate would be a lot higher given that MD was created by doctors for the benefit of doctors. That means that MORE than 50% of the doctors are dealing elsewhere with respect to their investments and not at MD.

    Too much detailed statistics that keep track of where clients are invested. For example, the composition of an advisor's book is dissected. For example, how much is invested in MD Funds, how much is invested in non-MD Funds, how much is invested in individual stocks (that generate little revenue for the firm). Should just focus on recommending what's right for the client, and not creating investments proposals composed primarily of MD and Mackenzie only mutual funds or simply recommending their own MD precision portfolios.

    Just as other have mentioned, those employees who brown nose managers are the ones that get promoted.

    Advice to ManagementAdvice

    - Focus on what's right for the client... that's the most important part.
    - Some staff are leaving for the competition. Not good.
    - Too many different software systems and platforms to use by the consultants.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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