Listed below are the sorts of attributes that describe a typical client:
- Friendly, open-minded, and helpful- seeking to enjoy life
- Prefers to work with a professional by delegating responsibility for things like security selection and portfolio re-balancing
- Wants help in arranging their financial affairs
- Not interested in fads or trends, while understanding that risk and expected reward are related
- Appreciates the benefits of full disclosure and deductibility of non-registered account fees
- Focused on a long-term view (typically 10+ years minimum; preferably 20+)
- Is generally in a high marginal tax bracket with a need to reduce taxes
- Understands the added value of product cost minimization
- Minimum household assets available for investment of $250,000