Adviser – ipac western australia
55 Salvado Road,
Subiaco WA 6008
Patrick Canion’s passion for financial planning reflects his strong views that all people are created equal and everyone is connected in some shape or form.
Patrick’s career to date is one filled with the sort of diversity that can only be attributed to one thing – tenacity. The American born, Perth native has enjoyed a career to date that is anything but straightforward.
The self-described ‘serious’ young man studied for six months after school, dropped out and wiped out all his savings and got married in the same period. From working as a postman, to working in insurance to being a Pastor at a local church he has a story to tell. And after all of that he is now Managing Director of one of Perth’s most successful financial services firm, ipac WA (originally rmg financial services).
Patrick received the majority of his financial grounding at National Mutual and then later at rmg financial working in insurance. But it was in 1995 that his career took its largest U-turn in the form of a stint as Pastor of a small, community-based church. The church subsequently folded (no fault of Patrick’s), his marriage fell apart and he was diagnosed with clinical depression.
While Patrick had every reason to crawl into a small hole and shield himself from the world, he didn’t. With no money in the bank Patrick lost his house, could only see his kids every second weekend and his mental health was shot, yet he learned to focus on the positives and try to look at it as an opportunity.
Patrick decided from his lowest point that when he re-entered the workforce he would find something that he loved. Whether he would make $50 a day or $1,000 it didn’t matter – his happiness was the most important thing.
“I have done it the hard way. I was from Texas, moved to Tasmania and settled in Perth with my mother. We had very little money so much so that I never received pocket money and started working at the age of 14. I tried studying and dropped out, I tried my hand as postman and hated it and I even tried my hand as a Pastor and that didn’t work. But here I am today hugely happy and content in the fact that an easy life is no way to tell a good story!”
Patrick is now remarried, his kids are grown up and he is running a thriving financial services business. He now manages his work and life with the same philosophy.
“Every single person is an individual no matter what they might outwardly manifest – ultimately they are all as worthy, valuable and as important as I am. I always ask myself would I be happy receiving that financial advice? That’s the interconnectedness I am trying to achieve in this profession. I always put myself in the place of my client and it seems to be working.”
“For me it can’t get much simpler than saying my role is to make people’s lives better.”
Patrick has been responsible for acquiring seven businesses along the journey and in 2013 the next chapter commenced as the business was rebranded as ipac Western Australia.
Patrick Canion is currently CEO of ipac WA.