Although Denzil Feinberg likes to hop around the country serving his clients, he believes in staying put once you’ve found a dealer.

“Changing from one dealer to the next does a lot of disservice to the client,” he says. “If the current dealer is satisfactory, stay with it.”

Feinberg says financial advisors who deal with clients from a holistic point of view should thrive: “The best thing you can do is learn the general information first. Too many people concentrate just on stocks; they don’t even think about the debt side.”

Feinberg also encourages advisors to get their certified financial planner designation: “I quote a U.S. statistic that says agents with CFPs who do insurance earn twice as much as people who don’t have CFPs. That, to me, was a guide that more all-round knowledge would be better for the client and the advisor.”

Finally, Feinberg recommends advisors go the fee-only route. “It gives you a broader feel for financial planning, a broader feel for what’s happening,” he says. “You get more in-depth knowledge, you cover debt, tax and the personal side of clients when you do fee-only.”

— GEOFF KIRBYSON