Description

The comprehensive services offered by family offices have traditionally only been available to high-net-worth individuals. But today’s guest, Marc Lamontagne, was determined to offer full-service fee-based financial planning to the emerging affluent ‒ folks who may not be millionaires yet but who have some investable assets built up. In this episode, you’ll hear how he built an accessible yet profitable family office practice into Ottawa's largest fee-based financial planning firm.

Marc is a founding partner of Ryan Lamontagne Inc. He specializes in comprehensive financial planning, investment counseling, and tax planning. Marc has also delivered numerous seminars and workshops across Canada. He’s a recognized expert in the field and has appeared in publications such as the Globe & Mail, the Financial Post, CBC, Ottawa Citizen, Toronto Star, CTV Morning Live, and MoneySense magazine. Listen in to hear why he wanted to offer a comprehensive financial planning service that even includes tax preparation, how he gets clients to implement all the recommendations on his financial plan, and how he ensures his business is always growing.

What You’ll Learn in This Episode:

• Why Marc offers tax preparation as part of his financial planning offerings (4:00)
• Marc’s trick for getting clients to implement his recommendations (7:25)
• How a financial plan is like a new car (12:45)
• What people often misunderstand about fiduciaries and financial planning (14:20)
• The unexpected way Marc found his niche (20:35)
• Marc’s multi-pronged approach to marketing (23:50)
• The two questions Marc asks himself to help him reinvent and grow his business (29:30)
• How recent changes to the FPSC will impact the industry (31:55)
  

Links and Resources:

Ryan Lamontagne Inc.

Quotes by Marc:

“One of the things I always tell clients is that the implementation process is just as important as the planning process because all the planning in the world isn’t going to do you any good unless you implement it.”

“I always used to joke that a financial plan is kind of like a new car: it loses about 20% of its value the minute you drive off the lot because as you know, over time, your financial situation may change, your life may change, your goals change.”

“Sometimes what you have to do is look around you and say is there some sort of structure that's preventing me from expanding my business? Because if a business isn’t growing, it’s dying.”

Marc’s mission with Ryan Lamontagne Inc. was always to offer as much as possible to his clients in one place so that they wouldn’t need to seek out teams of people to help them with their finances. T...