Global CEO Excellence Awards 2020

16 CEO MONTHLY / GLOBAL CEO EXCELLENCE AWARDS 2020 , Best Wealth Management CEO (Western Canada): Karm Panesar For the past fifteen years, Karm Panesar has jumped from success to success, building a portfolio of businesses that range from construction to financial services. With extensive experience in the realm of corporate accounting and tax planning background, his work at Westgroup Financial Management has become a particular highpoint of his career. Westgroup Financial Management was founded in 2018, based in South Surrey in British Columbia. Karm has long had a passion for helping businesses and families to achieve their financial goals, with his successful career as a business owner and business executive creating a great deal of trust between client and company. Allowing someone else to develop and implement a key business process can be a challenge, as it hands over a lot of responsibility for success to someone else. Karm and his team take this responsibility with ease, always looking for the best way to support someone else’s goals. With a long history working in a variety of businesses, Karm is able to provide a unique perspective on how best to manage wealth, with his specialist knowledge of accounting allowing him to find When it comes tomanagingwealth, a lifelong entrepreneur is one of the best people to turn to. KarmPanesar has beenmakingmoney since hewas in high school, opening his first business at the age of eighteen.With numerous successful ventures behind him, it’s his work atWestgroup FinancialManagement Inc that has attracted the attention of the Global CEOExcellence Awards. We profile Karmand the firmto find outmore. solutions that are able to not only meet a client’s needs, but exceed their expectations. With offices in Vancouver, South Surrey, and Langley, Karm has been able to expand the business to match the needs of clients, building a strong team of financial experts who share his passion for detail. Currently, the company is continuing to grow ever-stronger, achieving a 50% growth rate year-on-year. This level of success is exactly what clients want to see in their wealth managers. The company’s success is self-perpetuating. When it comes to wealth management, few can handle your affairs with more care and attention than the team at Westgroup Financial Management. With their main focus being to find ways of transferring wealth to the next generation in a tax- optimized manner, there are few companies that can be so highly regarded. Of course, the management of wealth involves many different areas of financial services, mixing together tax planning, wealth protection, estate planning and business succession planning and understanding the way in which this relates to your total worldwide wealth. The team are well equipped to take a holistic approach that incorporates all the necessary details and challenges from this complex field. Of course, while Westgroup Financial Management has been able to achieve immense success since its creation two years ago, offering clients a range of services such as investment planning, retirement, health insurance planning and accounting services. This venture is a new field for Karm, though he has been able to apply many of his proven skills to the task at hand. When Karm first started business, it was in the world of excavation and construction. His first company, Global Earthworks Ltd is still going strong together. Since being launched in 2005, it has grown to employ forty people. Six other companies – including the Global Earthworks Group – make up his impressive track record in business. Before he started Westgroup Financial Management, Karm ran an incredibly successful import/ export business that dealt with ladies’ luxury apparel, high heels and purses. Handling so many different aspects of a business in so many different sectors has allowed Karm to gain an incredible depth of knowledge in terms of how businesses can be run. All of the firms have been built from scratch and allowed to flourish. Karm gained a lot of experience doing this work, handling the accounting and corporate structures for each of the companies. As such a renowned figure in the financial services industry, it’s no surprise that Karm is a member of Advocis, The Financial Advisors Association of Canada. This organization is the largest voluntary professional membership association of financial advisors in Canada and is one of the many ways in which Karm is able to keep an eye on an industry that is perpetually in flux. One of Karm’s strongest beliefs is in the importance of adhering to incredible high standards of accountability, and maintaining strong ties with the rest of the sector is crucial to achieving that goal. Currently, he is completing his CFP, which is another step towards being able to provide the best solutions in financial planning. Knowledge has always been a great motivator for Karm, and he encourages all members of his team to take a broad approach to insight. Under Karm’s influence, the team at Westgroup Financial Management have not only served paying clients, but those who need assistance most. The firm has become well known for the charitable causes that it Jun20120