Our clients are mainly individuals who have neither the time, the interest, nor the knowledge to manage their portfolio themselves. We do not accept clients who are speculators or inveterate "traders". Generally, our clients favour conservatism, but appreciate dynamism. Our clients do not consider us as executors of transactions, but more as the initiators of these.
Our clients appreciate not only the follow-up and professionalism of our portfolio management, but also their ability to contribute their own investment ideas occasionnaly.
Maintaining a complete and up-to-date understanding of each client constitutes one of the greatest challenges for the investment advisor. Regulating authorities suggest various methods, but these are very often insufficient. They value their capacity to discuss openly with the key individual responsible for the management of their assets.
Understanding Our Clients
Understanding our clients is fundamental to the implementation of our business plan. It is not a necessary evil imposed by regulating authorities, but rather the source of our identity as a group and the raw material of our efforts.
Our mission refers to our mandate as the principal financial advisor. This role implies by its nature a detailed and up-to-date understanding of our clients. Furthermore, only a complete knowledge of our clients allows us to offer all of our clients personalized service, for which we will be remunerated adequately.
Our work as portfolio manager requires us to have opinions about financial markets and various investment vehicles in order to make recommendations to each of our clients, which are best suited to their own specific situation.
In order to better understand our clients and so better grasp their objectives, their expectations, the stakes of their personal finances, their level of tolerance to risk and volatility, etc., we begin every new client relationship with a series of activities such as a complete finance planning exercise, an investor profile evaluation, etc. Usually, two or three hours of preparatory work are required before even discussing portfolio management. This effort allows us to better understand our clients, to position ourselves as the principal financial advisor, to identify areas where our range of services or products can be required (e.g. insurance), to create realistic expectations, to identify investment objectives and finally to recommend a truly informed and judicious portfolio strategy.
In addition to the methods mentioned above, the Dalpé-Milette Group has introduced the following procedures to follow-up on client developments and to document and update this knowledge base:
Each client file includes over a dozen pages of various types of information: investor profile, communication statement, family, communication mediums, interests and leisure, Dalpé-Milette services subscribed to, professional and other contacts (accountants, lawyers, etc.), bank references, etc. A history of our contacts with each client is entered in real-time and documented: each call, meeting, document sent, fax, email, portfolio review, etc. Nothing is missing. Our client file includes every information required by the various regulating authorities, and much more.
This effort allows us to have an in-depth understanding of our clients, to customize our approach and to achieve an uncommonly efficient way of processing a growing number of clients.