There’s far more to life than money, but it sure is an important tool for attaining other goals.

“I believe money is an enabler that allows us to do valuable things in our life,” said Susan Latremoille, a top practicing wealth advisor at Richardson GMP, at the Investing in You conference in Toronto, today.

Latremoille, who has been in the business or serving high net worth clients for 25 years, spoke on how this investment philosophy is one of the five lessons she’s learned that have helped drive her business to success.

“There’s a great sense of accomplishment if you learn to be charitable with money,” she added.

Latremoille’s other “high five” priorities for advisors lay out as follows:

Team Dynamic
A strong team is the foundation for great client service and is critical for succession, said Latremoille.

Her own team consists of one employee who runs the day-to-day aspects of the business, two co-workers who deal with the non-investment side and one assistant. Each is a shareholder in the business and Latremoille said this was important for her so everyone feels motivated to contribute.

Target Market and Client Service
Developing a target market goes hand-in-hand with client service, and is a work in progress that is constantly evolving, according to Latremoille.

“It is up to you to choose your clients based on what your business goals are,” she said.

Latremoille advised against having a client book that consists of more than 150 clients. She personally has 100 clients, with a portfolio at about $250 million, and she said this allows her to provide more personalized service.

Additionally, Latremoille has switched from a transaction-based service to a fee-based approach because this enables her to offer better value.

Getting Personal
Lastly, Latremoille discussed the importance of balancing personal life and health with work and business development.

“Learn to be stewards of wealth,” she said. “Have a will if you have assets, and educate your clients [about this as well]. Advisors should use this holistic approach as part of their business.”

(05/06/10)