Whether you’re an experienced real estate investor or are looking to get your foot in the door, having a knowledgeable and dedicated professional by your side can make all the difference. At Parvis, we pride ourselves on offering personalized guidance through our experienced Dealing Representatives (DRs).
Today, we invite you to take a closer look at what a typical day looks like for Vanessa Sheen, one of our talented DRs. Through this Q&A, Vanessa shares her insights, experiences, and the benefits of working with a DR in the private markets.
Q: What is a Dealing Representative (DR)?
A: A Dealing Representative is a person that is registered with 1 or more securities commissions that conducts know-your-customer conversations (KYC) and assesses one’s suitability for an investment. DRs are required to take know-your-product (KYP) training in order to inform investors about an investment product’s characteristics. They buy or sell investment products on your behalf, based on your instructions.
What DRs can sell or buy depends on the registration category of the firm that employs them. Parvis, for example, is an Exempt Market Dealer (EMD). A dealing representative registered with an EMD must take the Exempt Market Proficiency course or take the Canadian Securities Course every 3 years.
Q: Tell us about your background and what made you gravitate towards the private markets?
A: I started my career in insurance, then I transitioned to business banking. However, I found my true passion in the investments industry, particularly supporting DRs at an EMD. I pursued an Exempt Market Proficiency course, driven by my dislike for routine tasks and my desire for constant growth.
Being a dealing representative is incredibly energizing—I get to continuously learn, meet new people, and help them grow their wealth. I find joy in empowering individuals to diversify their portfolios and educating them about the Canadian investment landscape.
Q: How does working with a DR benefit investors?
A: Investors benefit from having a professional execute their instructions in accordance with industry trading regulations and firm policies. Dealing representatives are also there to act as a point of contact for the dealer and provide accurate and timely information on market activity, company products and services, and update customer account information.
Q: What is the one thing you want someone unfamiliar with this space to know?
A: Understanding the implications of your investment and having a clear exit strategy are crucial. Protecting yourself is knowing what you’re getting into with any investment in the exempt market space.
Q: What are your ‘go to’ features that you look for when completing KYP on a given product for suitability consideration?
A: The features I focus on vary for different investors, as I highlight specific aspects of a product that are relevant to each individual based on their needs and goals. Not all investors are interested in the same things. Some examples include:
- The track record of the company and its management
- The goals and targets of the offer, including how much they have raised and how much the NAV has increased.
Q: DRs ask for a lot of personal/sensitive information. Why?
Canadian securities administrators enforce KYC, KYP, and suitability obligations as among the most fundamental obligations owed by registrants (dealing representatives) to their clients – they are the cornerstones of investor protection.
In order to conduct a complete KYC and assess suitability, dealing representatives must be aware of your financial and non-financial assets and liabilities. They must also know about investment objectives, time horizon, risk tolerance, and other details.
Q: As an investor, what can I expect working with you when investing on the Parvis platform?
A: As a licensed Exempt Market Dealer with Parvis, I provide personalized guidance and access to a curated selection of exclusive investment opportunities on our platform. I’ll help you navigate the investment process, ensure your suitability, and address any questions you have.
Ultimately, my goal is to assist you in finding investments that align with your financial goals and provide exceptional support throughout your investment journey.
Interested in learning more about Parvis' real estate investment opportunities and how they can help you in achieving your financial goals? Book a meeting with Vanessa today!
