By Special to MoneySense on March 21, 2023
Estimated reading time: 3 minutes

Nicholas Hui, P.Eng, Certified Financial Planner

By Special to MoneySense on March 21, 2023
Estimated reading time: 3 minutes

Nicholas Hui is an advice-only Certified Financial Planner based in Markham, Ont. Learn more about his story and unique financial planning approach.

Certified Financial Planner Nicholas Hui smiles at the camera while crossing his arms with a grey brick wall in the background.

Photo courtesy of Nicholas Hui.

Who is Nicholas Hui?

Nicholas Hui was an automotive engineer for 20 years before becoming a Certified Financial Planner. He brings the same systematic approach from his engineering background to his practise now as an advice-only planner. Nicholas specializes in helping young families and professionals bring some order to their finances and get on a path to achieving their long-term goals. He also offers retirement planning services and helps clients work towards financial independence.

Services	• Comprehensive financial plans • Money coaching • Focused (or modular) analysis for a specific area of your finances
Specializations	• Money coaching for young professionals and families • Financial independence • Retirement planning
Payment Model	• Fees paid by clients for advice (not based on assets)
Languages written and spoken	• English

Meet Nicholas Hui

About Nicholas

I am an advice-only Certified Financial Planner at VAVE Financial. In my previous life as an engineer, I used value analysis/value engineering programs to help manufacturers cut costs and improve efficiency. I bring that VA/VE approach to my financial planning practice to help my clients optimize their finances. As an advice-only planner, I work directly for the client and do not sell any products or take commissions.

Why he became a financial planner

I became a financial planner to provide people with unbiased advice. I met so many people that had been sold products (insurance, investments) that were not appropriate for their goals and financial situation. I also found many people were paying high hidden fees and receiving very little financial planning in return—so I wanted to build up a business that was free from sales and commissions.

His investment philosophy

I take a holistic approach to finances without the conflict of interest of selling products, making commissions, or having assets under management. I work for only the client.

His proudest achievement as a financial planner

Being able to create and build my advice-only planning business, despite being told that it wasn’t feasible without selling investment or insurance products, taking commissions or charging by a percentage of the assets.

A client success story

One couple came to me looking for strategy and planning around moving into a bigger home and starting a family. Through building various scenarios, I helped them understand how much they could comfortably afford for a home and the financial sacrifices of having children (parental leave, daycare, etc.). This gave them peace of mind about this major financial decision.

What if money were no object?

I would still do money coaching, as I love helping people make sense of their finances. I enjoy volunteering on various non-profit boards, so I would probably take on a few more leadership opportunities with organizations that are meaningful to me and my family.