Nicol and Associates | How Can We Help?

When we ask someone what they do, there's usually more to the question. I think we are asking them what benefit they provide. In the financial industry, you could ask five people this question and get five very different answers.

After more than two decades in the financial industry, I know I can’t be everything to everyone. I also know that the only place to focus my efforts is to ensure my clients’ goals are firmly in mind at all times. When I first meet a prospect, I interview them as much as they interview me. I have a lot on the line, most of which is my clients’ future. So it is imperative to ensure I can provide the kind of help they are looking for.

My Approach is Holistic.

We begin with an accurate look at their current situation, decipher what immediate details need to be attended to and enlist the help of experts in various disciplines if necessary. If someone needs life insurance, debt consolidation, financial planning, accounting or wills, I can either make recommendations to see someone I have personally vetted or they are free to selecting their own solutions. Either way, I will help them as much as they need me to do so.

The next step is to learn more about a prospect’s investment experience and fears. I will answer any of their questions and take as much time as we need to explain. This is also where I begin to explain my beliefs and strategies for wealth creation and preservation.

Full Review.

Then I perform an assessment of all holdings in current portfolios and provide them with a full report of what I have found. I recommend any changes necessary on all holdings in order to reach their goals. Like an exercise regime, we may say we want to run a half-marathon by Christmas but if we have our hand halfway down a bag of Oreos, the goal and the strategy are not working together.

I then outline specific recommendations for any changes necessary on all holdings to match their goals and objectives set out in their financial plan. We then create an implementation strategy by purchasing securities that meet their risk tolerance, their time frame and their goals of each pool of money. A full review of their portfolio is performed every six months and any necessary adjustments made to ensure they are on track.

Review of The Seven Steps I Take to Help My Clients:

• Conduct an in depth conversation so everyone fully understands what I provide and what they want from their investments.
• Bring in any specialists the client may need to handle any immediate issues.
• Perform a full and thorough assessment of their portfolio holdings
• Outline all recommended changes required to align their portfolio with their goals.
• Implement our plan.
• Review their portfolio every six months.
• Remain available via phone, email or in person to them for any questions or discussions they need to have about their financial situation.

When you ask someone what they do, also ask the how they can help. I always have time to help my clients and prospective clients. And I'm happy to explain all of this in more detail with you in person.

Let’s get started.

Patrick C. Nicol
image credit: northings
Next post will be about what I do behind the scenes!

Nicol and Associates | Behind the Scenes

Last week I outlined what I do in front of each client or new prospective client. This week I’d like address all that other stuff I do on a regular basis. As promised, this week I’d like address all that other stuff I do on a regular basis. This is in the hopes of giving you a better understanding as to how I get my information, strategies and recommendations. It may be simpler if I just put it in an easy to follow list.

These are my regular activities, in no particular order.

> Meet with each client in person every six months

> Respond to every client email, phone and in-person correspondence promptly

> Research and stay up-to-date on all global and domestic market issues

> Read my company’s analysts’ daily reports for all stocks my clients currently own

> Through daily analysis, earmark client portfolios that need updating

> Outline stocks that may be right for my clients

> Respond to client inquiries about market information

> Discuss any client inquires about changes they request or issues they need clarified

> Make any trades clients wish to be done

> Conduct an in-depth phone conversation with each client every six months

> Re-balance any accounts that are up due.

> Read, digest and analyze local, national and global business news publications and websites

> Meet with mutual fund company representatives for updates on funds and programs

> Review each client portfolio to ensure we are on plan.

> Meet with executives from companies to investigate if they are worthy of recommendations

> Continue my financial and investment industry education through conferences, courses, books

> Complete a minimum of 30 credits each year from the Industry Regulatory Organization of Canada.

And I am never too busy to meet with you and talk about how I can improve your financial future. Coffee’s on me!

Patrick C. Nicol
image credit: singlemomfinance