Serge Robichaud is a financial wealth professional with a strong history of effectively managing client portfolios and offering comprehensive financial planning services. Robichaud holds a Life License Qualification and has successfully completed coursework and certifications through the Canadian Securities Institute. He has also passed the second examination for the Chartered Financial Analyst designation. At present, Serge Robichaud serves as a Financial Advisor at Canada Life & Quadrus Investments. In this role, he assumes responsibility for client investments and insurance planning, delivering comprehensive financial planning advice.
What is your primary area of focus within finance, and what specific tasks or responsibilities does it entail?
Serge Robichaud: My primary field of focus is developing financial plans for my clients that meet their unique needs. I analyze complex data, make strategic decisions and take on the task of finding solutions to intricate problems. I then take these findings and use them to work out the best way forward financially for my clients. We develop business relationships with each other built on trust and expertise. I also work with clients to develop investment portfolios as well as insurance strategies. I also oversee all compliance issues to ensure that our clients are protected. In my incorporated practice, I’m the CEO, I have one employee – all the responsibility falls on me for protecting my clients and securing their financial success.
How has technology and data analytics transformed the finance industry in recent years, and what do you see as the key trends shaping its future?
Serge Robichaud: I would say that technology has revolutionized the world of finance by automating a lot of routine tasks and providing real time data analytics that help in developing financial plans more intuitive. It really allows us to make better data-driven decisions, streamline the existing processes, and respond quickly to market changes. The innovations are extensive and it can be a challenge to keep up with them, but we’ve made it a priority to stay on top of every possible technological advantage we can wield to help our clients.
What advice do you have for individuals looking to better manage their personal finances, especially in terms of saving, investing, and budgeting?
Serge Robichaud: For personal finance, I want to clarify that the advice is general, because every plan and every life path is unique. But generally speaking, my advice is to create a budget, even just a simple one. Invest a portion of your income regularly, you can even set up automatic contributions to your portfolio. Diversify your investments and find the best methods to stay informed about what’s going on in the markets. Financial literacy is crucial for your long-term success. If you’re unsure of where or how to start, that’s a great reason to speak to a financial advisor!
How do you stay updated on the latest developments in finance and ensure you remain knowledgeable in the field?
Serge Robichaud: I stay up to date by watching financial news programs, reading industry publications, and attending the occasional conference. I’m always reading financial articles and business columns. I read the Report on Business everyday! Ever since I was young, I loved to learn and stay on top of things. I think to be successful in this business, you have that hunger and curiosity. I believe that continuous learning, as well as networking, are essential skills to have in finance to help you adapt to ever-changing regulations and market conditions. Ongoing education is just par for the course.
What’s the most common mistake investors make?
Serge Robichaud: The most common mistake is thinking about investment returns in absolute terms. I believe that investment returns should be evaluated relative to other investments that could have made the same amount of money. For example, let’s say you make a 15% return on an investment that carries enormous risk. When you see that I’ve made a 10% return on an investment with substantially less risk than your moonshot investment, does that mean yours is necessarily better?? I try to get clients to think about investments in terms of strategies that maximize a return for a minimum amount of risk. It’s a risk/return ratio, and I think investors often lose sight in the value of that ratio.
