Insurance as a planning tool

Marc Bérubé is the founding president of Trek Financial Coaching. This year, this Laval office is blowing out the twentieth candle. Targeting physicians, professionals and entrepreneurs, Coaching Financier Trek claims more than $ 200 million in assets managed in mutual funds.

In September 2020, the firm launched Trek Korpo, a division that aims to reach individuals with high net worth. The services are specific to well-established entrepreneurs, who optimize intergenerational wealth transfers.

Why did you create a division inside the office? “Like the 1859 Private Management of this world, we want to signal to people of high net worth that we know their reality.” And that they can also recognize themselves in us “, explained Marc Bérubé. But unlike wealth management firms, Trek Korpo has not structured its offering based on portfolio management, “an area where it is very difficult to stand out,” said the firm’s chairman.

Rather, the Trek Korpo relies on its knowledge of complex insurance strategies designed to reduce the tax burden and facilitate the transfer of assets to potential mortgages, including integrating the famous capital dividend account (CDC). “Ensuring life with participation is a tool par excellence,” said Marc Bérubé.

In principle, Trek Korpo clients have a high net worth of $ 10 million. On the one hand, the strategy of very high insurance premiums. On the other hand, “we want to avoid, without a doubt, that our customers end up losing their assets during their lifetime,” explains Marc Bérubé.

Not to be missed

. Launch too early

“When it comes to high net worth customers, sales cycles are very long. They must not feel that one would need to make these sales to make a living. That would keep them away. My number one recommendation is to build the relationship. We must not get into the battle of selling too early, ”says Marc Bérubé.

. Being in the rough

„Surprisingly, few advisors have a consistent discourse in relation to complex insurance strategies. It is necessary to know the products thoroughly and to control the offer of six, seven or eight insurers. This is not done by shouting scissors. You have to constantly study. You have to select the accumulation opportunities for the UFC according to the speakers and the topics, which may no longer have our level of knowledge “, pointed out the owner of Trek Korpo.

. Get started with entrepreneurs

According to some statistics, four out of five early career counselors would leave the company after three years. That’s why Marc Bérubé urges start-up advisers to stop targeting entrepreneurs’ clients at the beginning of their careers. “Unless you have a strong network of entrepreneurs already in place, getting into this market is like committing suicide. Before tackling it, you have to have proven it, ”concludes Marc Bérubé.

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