Trick or Treat : Cash or Stock

For immigrants, ex-pats and first-generation Canadians, Halloween can be a fascinating, if not slightly bewildering, introduction to North American culture. The traditions—costumes, decorations, trick-or-treating—are distinctly unique, sometimes even eerie to newcomers, just as the world of wealth management may feel to those unfamiliar with it. Wealth Management is mostly common in modern times and individualistic societies seniors don’t live in multi-generational homes supporting each other emotionally and financially. Both require an understanding of norms and language that might not be immediately accessible or intuitive. Similarly, wealth management can initially seem like a world of incomprehensible rules and customs. Understanding how to manage, grow, and preserve wealth may feel complex, and the layers of terminology, strategies, and decision-making processes can be intimidating.

Cultural Shift : Halloween & Wealth

Just as Halloween often asks people to step out of their comfort zones, wealth management requires individuals to make significant shifts in thinking. For immigrants especially, adjusting to wealth management practices often involves learning a new financial language and adopting unfamiliar strategies. Concepts like retirement planning, portfolio diversification, and tax-advantaged accounts may not be commonly discussed in some cultures, where wealth can be approached more traditionally, often centred around savings or family assets. If you parents didn’t have a Financial Advisor, then you ask why would you need one?For first-generation immigrants and those who may be first in their families to invest or build wealth in the Canada, engaging in wealth management is akin to learning Halloween customs from scratch. At first, it can feel like an “extra” activity, something seemingly optional. But much like the small joys of Halloween (the neighborhood decorations, the camaraderie among neighbors), the value of wealth management becomes clearer over time, revealing itself to be an essential part of building financial security. You can also embrace some and not all layers of the customs and instead of going all out with ghostly costumes, the sharing of treats with neighbourhood kids might be more up your alley.

Embracing New Norms: From Costumes to Portfolios

Part of Halloween’s allure is the freedom it provides: the chance to assume a new identity for a night, to step out of the usual routine, and explore creativity. Wealth management, though not as whimsical, invites people to step out of their comfort zones and into a new mindset. To create a financial plan is to adopt a long-term, disciplined perspective—often different from how we might think of money in our daily lives. Like choosing a costume that fits your taste for the night, such as a conservative and subtle costume compared to the extreme ones. The largest public stock market is the US, so most new immigrants would not have been in environments where they could easily own part of household names like Microsoft, Disney, Google, etc because multi-factors such as the local capital market, technology, among other things. That was my own experience and its why I am so passionate about taking the fear out of investing the these companies, and encouraging people to have an open mind.

Customization & Self Expression

Halloween celebrates individuality through costume choice, and everyone has the freedom to be whoever they want for a day. Wealth management, too, offers a unique form of self-expression. Financial planning isn’t one-size-fits-all – it’s a deeply personal process that reflects each individual’s values, goals and aspirations. Spoiler alert, the same applies to Advisors because we each bring our individual biases, experiences, mindsets, and values to our practices and this is why its recommended to work with an Advisor who aligns with your values and philosophies. If Advisors were costumes then unlike the typical Batman, Spidermen, Draculas walking around, I would be the type you are not used to seeing. I am not your typical or traditional Advisor in this industry which I completely embrace.

Conclusion

For many immigrants, embracing Halloween is a step toward feeling part of their new community. Similarly, navigating wealth management can be a vital step toward financial empowerment and inclusion. Although both may seem foreign at first, a willingness to learn, the guidance of a trusted “tour guide,” and taking small, actionable steps can turn the unfamiliar into a new tradition of growth and security. Halloween might be an annual holiday, but the understanding of wealth management can be a lifelong journey—one that creates stability, independence, and confidence in a new financial landscape. And remember always choose treat, and let me help you in getting treated to a portfolio of stocks.

Orlando Lopez,CFP,CIM,CIWM Book at Meeting Upcoming Webinars