Laetitia Peterson from The Private Office says deciding on a client niche is one of the most important things in developing a business.
Years in the (financial services) industry:
Why did you get into wealth management?
I wanted to start focusing on people rather than financial markets; using my financial skills to help successful families make smarter decisions about their money and improve their well-being.
How would you sum up financial advisers in three words?
Lacking in numbers and skill.
What advice would you give to a new financial adviser?
Develop a five-year plan, be patient and have the ability to survive the early years.
How would you change the industry?
The industry needs to attract younger and more independent advisers.
What’s the most important thing an adviser can do to develop their business?
Deciding on a client niche; turning personal interests into a growing business.
What’s the best advice you’ve ever been given?
The client is always right.
If you were Prime Minister for one day, what would you do?
Have tea with the Queen!
What has been the highlight of your career?
Selling Liontamer, the business I co-founded, to a major overseas financial institution and publishing my first book Legal Tender.
What’s your favoured style of coffee?
Trim or skinny latte depending on whether I am in NZ or Oz.
Union, league, soccer or other?
Golf (in a supporting role)
If you could invite three people to dinner, dead or alive, and excluding family and friends, who would they be and why?
Complete this sentence: If I wasn’t a financial adviser, I would be…
- Pablo Picasso – he is the most visionary artist of all time.
- David Booth – founder of Dimensional, the firm I invest with, and after whom the business school I graduated from is named (Chicago Booth) thanks to his generosity.
- Isabella Rossellini – Italian actress, still relevant at 63, recently starred in Joy, some say I look like her (when she was younger and before I turned blond!)
A violinist – my first passion until I was 18 and realised I would struggle to make ends meet.