Page 32 - Newcom

MYNICHE
by SUZANNE SHARMA,
associate managing editor of Advisor Group
A PRESCRIPTION FOR ADVICE
DAVID BOYD is vice-president, portfolio manager at BMO Nesbitt Burns in Windsor, Ont. About 30% of his book is doctors, 35% phar- macists, and the remainder a mix of professionals.
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www.advisor.ca
DAVID BOYD HAS BEEN SURROUNDED
by medicine his entire life—his father and grandfather were both doctors.
But Boyd decided not to follow them. He had an aptitude for numbers, so he got his securities license and met with his parents’ advisor, Phil Horn of BMO, who’d been in the industry for 35 years.
“Phil was looking for somebody and he offered me that job in a Chinese res- taurant ... and I never looked back,” says Boyd, vice-president, portfolio manager at BMO Nesbitt Burns in Windsor, Ont.
Growing up with doctors gave Boyd an advantage when it came time to spe- cialize his practice. Whether they work in emergency rooms or family practices, he says, doctors are process-driven and busy. “I’d call and they’d tell me they don’t have the time to discuss every
move in their portfolios,” he explains. Clients would ask if there was a way
he could be more active in managing their money. So he got his discretionary license, he says, which lets him serve clients without needing regular input.
And, when clients do have time for him, he’s comfortable meeting anywhere and anytime that fits their schedules.
For instance, he recently went to the hospital to meet with a surgeon and two emergency room doctors during their breaks. “I know my way around the OR,” says Boyd.
Evolving a niche
While building his book, Boyd saw the opportunity to branch out when a doctor referred him to a pharmacist. “There’s overlap in the professional world
STEVE POMERLEAU