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The challenges, confesses Massa, financial security advisor and mutual funds representative with Investors Group Financial Services Inc. in Montreal, have really “opened my eyes to what the real world is and how to deal with it.” Indeed. At 22, Massa is buying a book worth just over $40 million. The real test, though, is that he’s buying it from his mother, Viviane Tremblay-Massa. “When you’re starting your own thing, it’s all on you,” he says. But when you’re buying a book with your family’s name, “it’s not only my reputation at stake, but a bunch of other people’s names at stake.” Massa is quick to point out that he’s not inheriting the book — he’s buying it. He’s not alone, with an unprecedented number of similar transactions now underway as boomer advisors opt for the most timetested succession plan going. “I may not have any gray hairs, but there are no shortcuts in life and buying a book certainly isn’t one,” he says. “There are very high standards that have been set, and I need to make sure my work meets those standards.” At the same time, he wants to find a way to make the business his own. When buying a book, there are two sides to the coin. On the one hand, Massa says, you don’t have to build that book yourself. “For me the challenge that comes with that is I’ve never experienced the hunger of building my own book. But if I can bring the same drive to an existing book, I really believe I can help grow this business considerably.” One way he’s doing this is by bringing insurance into the picture. “My mother and father’s generation of ‘buy term and invest the rest’ — things have changed,” he says. Instead, he’s using insurance strategies as part of the estate-planning process to ensure assets are passed down to the next generation in the most tax-efficient manner. “I think I’ve shed light onto a crucial element of a complete financial plan by exploring new ways of planning our clients’ estates,” he says. “This aspect of my work really allows me to get in touch with the next generation of clients.” Massa didn’t just wake up one morning and decide
THE DYNAMIC CODE: AN INTERSECTION OF IDEAS, CONVICTION AND PASSION. Dana Love brought a world of experience in active management when he joined Dynamic in October 2013. Access his global expertise through the recently launched Dynamic Global Balanced and Dynamic Global Equity Funds. See how Dana Love puts The Dynamic Code into action. Visit Dynamic.ca/dana
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Dynamic Funds® is a registered trademark of its owner, used under license, and a division of 1832 Asset Management L.P. JUNE 2014 | 13
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