About the founder
Nicholas Cup, CFP®, CIM®
Founder, Director & CEO of Cup Wealth Management Inc.
Nicholas Cup is a Certified Financial Planner (CFP) & Chartered Investment Manager (CIM), financial planning advocate, personal finance expert and Founder of Cup Wealth Management Inc. In his former career as a commission only financial advisor and then a fee-only financial planner he created Cup Wealth Management Inc., a full-service hybrid fee structure wealth management firm.
As a commission only financial advisor, Nicholas fought the overwhelming pressure to sell “as much product as they can afford”. He found a lot of his clients came to him asking for financial planning advice, but could only be compensated through the sale of product. The majority of the time, solutions to most clients needs were in the form of advice, not a product sale. With sales quotas looming over his head, he constantly found himself in moral conflict with surviving in the business or doing what’s in the clients best interest. Frustrated with the lack of flexibility in the compensation model Nicholas left his job as a commissioned only financial advisor to move into a professional fee only financial planning capacity at a respected public accounting firm.
As a fee only financial planner, Nicholas has had the opportunity to work with some of the most outstanding staff and successful entrepreneurs in Canada. While there, he saw first hand the financial and emotional impact great advice can have on a family and/or their business. He was finally able to use his expertise, free of conflict and sales pressures, to truly make an impactful difference in peoples lives by providing unbiased advice.
However, working under a fee only capacity, brought its own unique set of challenges. Execution of the recommended planning strategies discussed in a client’s comprehensive financial plan proved to be difficult. To put it in perspective: it’s as if we were a burger shop, but if you wanted a bun, you needed to go next door.
It is through these experiences that compelled Nicholas to start his own full service wealth management firm, Cup Wealth Management Inc. A wealth management firm for all, regardless of account size. There’s a flexible and affordable pricing model to suit everyone’s unique financial planning needs and level of service.