Serge Robichaud is a monetary skilled affiliated with Canada Life and Quadrus Investments. Fluent in each English and French, Serge brings invaluable information and sensible expertise to his clientele. As an completed monetary advisor, Serge oversees shopper accounts and delivers complete monetary companies.

With a life license designation and a robust dedication to steady skilled development, Serge Robichaud has accomplished an array of economic planning programs and certifications by means of the esteemed Canadian Securities Institute. Notably, he has efficiently cleared the second examination of the Chartered Monetary Analyst designation with the CFA Institute.

Serge Robichaud works diligently with an array of various shoppers and their households to assist them obtain their desired monetary goals. Leveraging his experience and perception, he offers personalised monetary steering to every particular person shopper.

In in the present day’s interview, Serge offers some key insights into the life and profession of a monetary advisor.

What Made You Need to Pursue a Profession in Finance?

Serge Robichaud: A part of what actually appealed to me concerning the profession is that it gives an mental problem. It includes analyzing complicated knowledge, making strategic choices, and infrequently fixing some fairly intricate issues.

To be trustworthy, it retains your thoughts younger. I personally get pleasure from being challenged and utilizing essential pondering to get a job carried out. There’s at all times fixed studying and adaptableness. The business is constantly evolving on account of altering laws, technological developments, and market dynamics. This can be a actually stimulating surroundings that requires you to remain updated, study new abilities, and adapt to rising developments.

What’s the Greatest False impression About Your Profession Path?

Serge Robichaud:  One of many largest misconceptions about monetary advisors is that we’re solely centered on promoting monetary merchandise and producing commissions. Whereas there are definitely some advisors who prioritize their very own pursuits over their shoppers, it’s essential to take into account that the function of actually respected monetary advisors goes past product gross sales. Many people are very devoted to our craft and wish what’s greatest for our shoppers, it’s counterproductive in any other case. There’s additionally the concept monetary advisors are “just for rich folks.” This isn’t true. Monetary advisors can help with a variety of different areas of finance and might be helpful for folks of all wealth statuses.

What’s the Most Troublesome Ingredient of Your Job?

Serge Robichaud: Any advisor goes to inform you that probably the most “difficult ingredient” is compliance. The reality is, the compliance group is there to ensure all the pieces is appropriately. Now we have to stick to strict compliance and regulatory requirements for a cause — to guard our shoppers. Following these moral tips might be demanding and time-consuming, however it’s properly price it.

For the Readers who Is probably not Conscious, what’s the Distinction Between Fiduciary and Non Fiduciary?

Serge Robichaud: The first distinction between fiduciary and non fiduciary primarily lies within the stage of authorized and moral duty the advisor has in the direction of their shoppers. A fiduciary is a person or entity that’s legally and ethically obligated to behave solely in one of the best pursuits of their shoppers. They’ve an obligation and loyalty and should prioritize their shopper’s pursuits above their very own. Fiduciaries are held to the next customary of care and should present full disclosure of any potential conflicts of curiosity that would negatively impression their shoppers. They’re anticipated to make suggestions or take prudent actions which can be unbiased and additional the curiosity of the shopper’s well-being.

Non fiduciary, however, might have a extra restricted authorized obligation in the direction of their shoppers. Whereas they nonetheless have the duty to offer appropriate suggestions based mostly on a shopper’s monetary state of affairs and targets, their main obligation isn’t essential to act within the shopper’s greatest curiosity. These advisors might have some potential conflicts of curiosity, similar to receiving commissions or incentives; however this doesn’t make them a nasty possibility or counsel they’ll do something to deliberately trigger their shoppers to lose cash – that isn’t how you retain a shopper. They nonetheless have to stick to a suitability customary, which implies recommending investments which can be appropriate for the shopper on the time of the advice, however not essentially the most suitable choice accessible.


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