FIND A PARTNER
Angela Mercier, principal owner of Mercier Mediation and Financial Services in Halifax, entered the financial advisory business with a degree in psychology and 15 years of experience in the automotive business. Her diverse career has taught her many lessons about success. She offers the following tips: Partner with a senior advisor. The average age of financial advisors in Canada is 54. That presents young advisors with opportunities to learn from their elders and to grow their business. “Ask [older advisors] what their succession plan is and if they have a process,” Mercier says.
Be transparent about costs. Explain your fee structure to your clients, Mercier says. Show how much they are paying — and for what — so there are no misunderstandings.
Get organized. Prepare for a mountain of paper. We may live in a digital world, but the financial services profession is mired in paperwork. Mercier cautions that the myriad forms and questionnaires are timeconsuming, but mandatory. Says Mercier: “Our hands are tied.”