BAM SIDHU, CFP ®, CEO and Founder of Aerie Insurance Solutions in Abbotsford, BC
BAM SIDHU
“People don’t plan to fail; they fail to plan”
Bam Sidhu (CFP® ), CEO and Founder of Aerie Insurance Solutions in Abbotsford, BC emphasizes the importance of building trust in his client relationships. Believing that “without trust, the relationship will fail,” he prioritizes open communication and genuine connections.
Reflecting back to the early days of his career, back in 1988, Bam recalls answering a blind ad in the newspaper. “At the time, I was transitioning between finishing my last year of school and starting law school,” he says. “Shortly after, I decided not to pursue law and ended up at Metropolitan Life instead.”
From 1988 to 1992, Bam became licensed and began working as a Certified Financial Advisor before moving into management with Metropolitan Life. When MetLife was acquired by the Mutual Group, Bam was retained as a branch manager, leading a small team and gradually expanding the office.
He says, “We started with a small office of only five Advisors, growing consistently from there. Over the years, there have been many acquisitions and mergers. After 32 and a half years, we decided to go our separate ways.”
The end of his long tenure marked the start of a new chapter for Bam. In early 2020, he channelled his extensive knowledge, experience, and established relationships into launching Aerie Insurance Solutions Inc.
“The name Aerie represents the nesting place of the highest flying bird, the Eagle, which was an award we used to give out to top achievers in various fields. My intention was to create a space where clients feel they are reaching their highest potential and achieving great success.”
Lessons Learned
Looking back, Bam acknowledges a major influence in his life that helped steer him in the direction he ultimately chose. “My uncle was one of the top producers in British Columbia with Sun Life back in the day,” he begins. “When I first joined the business, I didn’t tell him because I didn’t want to upset him.”
“At the time, I thought I’d only be in the business for a few months to a year while I prepared for law school”
Bam mentions, “He was always a mentor to me, helping guide me even though I didn’t take the path he might have expected. His influence was significant, and over time, I realized how much his guidance had shaped my career.”
“Now, 36 years later, I’m still in the business!”
“Trust is essential for guiding clients along the right path”
Driven by his passion for working directly with clients, Bam saw an opportunity to refocus on client-facing work. He explains, "When the opportunity arose for me to take my full pension, I thought it might be the right time to shift back into personal production, which I have been doing for a little over four years now.”
Today, Bam specializes in estate and tax planning, with a focus on handling complex and larger cases.
“While I am not averse to helping clients who simply want to protect their families, I specialize in handling more complex and larger cases. I collaborate closely with three different accounting firms and two local law firms. I work with their clients on tax planning and often handle corporate insurance arrangements as part of the process.”
Reflecting on what makes him successful in these aspects, Bam says without hesitation, “communication and trust-building.”
“Whether I’m talking to young couples who have just started a family and are moving into a new home, or to high-net-worth individuals who want to structure their estate to minimize taxes, the core principle remains the same: building trust.”
“Even in my role as a manager, I often felt like a coach in a boxing ring,” he says. “My job was less about challenging clients, and more about encouraging them to lower their guard so we could have a genuine, face-to-face conversation.”
Building trust with corporate clients, Bam focuses on short yet meaningful interactions. “It’s crucial to determine if we’re on the same page and if we can have those tough discussions. Avoiding these difficult conversations usually means important issues are being overlooked. Whether it’s between business partners or even a couple, these conversations are necessary.”
“If there’s no trust, the relationship won’t work.”
Secure Your Future Now: The Benefits of Early Financial Planning
“I often tell both Advisors and clients that people don’t plan to fail; they simply fail to plan.” This insightful observation underscores a common issue in financial planning: the tendency to delay crucial discussions until it is too late.
Bam goes on to say, “Whether you’re an Advisor managing day-to-day tasks or a client thinking about future tax planning, it’s important not to wait until you’re 65 or 70 to start the conversation. Initiating the dialogue when you’re 45 or 50 can make a big difference, even if you don’t take immediate action.”
The benefits of early planning extend beyond immediate financial needs, paving the way for more comprehensive and effective strategies. Turning to statistics in Canada, Bam mentions, “People are significantly better off when it comes to retirement and estate planning when they work with a qualified Financial Planner or Advisor.”
“The value of financial planning can begin early in life, too,” he says. “Involving a financial planner from birth—if parents are committed to this approach—can lay a solid foundation for future financial health. This early involvement might include planning for education expenses and life insurance, ensuring that children’s futures are well-protected and financially secure.”
Embracing Professional Growth While Cherishing Family Moments
Recently, Bam has been balancing his professional growth with personal changes. He says, “While I’ve enjoyed building the business, I’m looking to slow down now. My business partner, Preet Sidhu, who joined me shortly after my transition, has been instrumental in managing client relationships. Although I’m not very tech-savvy, she excels in that area, and together we make a great team.”
“My goal is for her to be a seamless extension of my work, so when I eventually step away, clients will continue to receive the same high level of service.”
Until the time comes to transition out of his role, Bam takes great pride in his work, believing that finding fulfillment in what you do is essential for a happy and productive life. “Even though not every day will be perfect, it’s important that the person you see in the mirror is smiling back at you.”
As Bam has gradually scaled back his work, he's been able to become more involved in his children's lives. He says, “I missed a lot of these activities while working long hours and being present now is something I truly cherish. I am coaching my son’s basketball team and attending my daughter’s dance recitals and competitions.”
“For me, success is about having time freedom and enjoying moments with my family.”
Looking ahead, Bam plans to travel more with his wife once his kids finish highschool and grow his commitment to supporting local charities. “Giving back is important to me, and I want to continue my father’s legacy of contributing to the community.“
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Bam Sidhu, BA, CFP®
CEO / Founder Aerie Insurance Solutions
105 - 299 Gladwin Rd
Abbotsford, BC V2T 2Y6
604 - 852 - 0792