Millicent Hicks has always been a “people person.” It wasn’t until Grade 12, however, that she discovered her other passion: investing.

One day her homeroom teacher decided to forgo the scheduled lesson and instead gave his students a life lesson. He talked to the class about saving for the future and the “rule of 72,” which shows how investors can double their money based on a rate of return of 7.2%.

“I was hooked,” says Hicks, a financial planner with TD Water-house Canada Inc. in St. John’s.

That summer, the Glovertown, Nfld., native worked in a small movie-rental shop, her first job outside her family’s resort cabin business. “My goal was to walk into a bank and deposit a $1,000 bill,” Hicks recalls.

One day, she did just that. “I was 16 — and I got my 7.2%,” she says with a laugh.

That early euphoria and well-grounded common sense set the stage for Hicks’ career as a financial planner. The teenager went on to work in the local credit union, then moved to St. John’s and a job with the TD Bank Financial Group in 1998. “I had an understanding of what investing was all about because I had invested,” says Hicks, who supplemented her insight by taking courses in the field and attaining her certified financial planner accreditation.

Hicks, 28, says having the support of an organization such as TD Waterhouse has proven invaluable in establishing her business — and in supporting her knowledge base. “I run my business and build my business through the company,” she says. “TD gives us the tools we need to get and retain clients. We get a ‘warm’ referral, great back-office support and standardized services.”

Then the work begins — and new planners should be prepared to put their noses to the grindstone, says Hicks: “The workload can be overwhelming. But recognize that you are genuinely helping people.”

It’s that knowledge that makes the long hours worthwhile, she adds: “People open up. They share their goals and aspirations. You help them get there; you feel their happiness and gratitude. That’s the payoff.”

Hicks says she is about two-thirds of the way toward building her book to her target asset level after roughly three years in the field, including a stint as a TD Waterhouse planner in Halifax.

The work starts with understanding the client’s needs. During the initial meeting, which often runs longer than 90 minutes, Hicks takes the time to get to know the client and how she can help them. She digs deep to get a firm sense of what they want, what they can realistically attain and what they dream of.

“Investment planning is only a small part of what we do,” Hicks says. “There is also retirement planning, tax planning and insurance and estate planning. We identify needs and recommend strategies. Then we refer clients to the experts.”

If a client needs a will, for example, Hicks sends him or her to a lawyer; if specialized tax advice is called for, she refers the client to an accountant. “It really solidifies relationships,” she says. “If people have questions, they are going to come to you. They don’t need to go outside. You’re a one-stop shop.”

In addition, Hicks believes in staying abreast of the current issues and concerns that clients have. These concerns may be sparked by the economic situation of the province or the country, they may be an industry-related issue or they may stem from media reports.

The knowledge level of clients is changing, she notes: “They are aware of the mutual fund industry. They want to know about fees, for example. They are asking these questions. Three years ago, this didn’t happen as much.”

It’s important to be aware of changes in the legal landscape, in tax law, in policies related to investment and taxation, and even in provincial government budgets, says Hicks, who has “lots of millions” under management. “If you don’t stay abreast,” she says, “you miss out.”

Clients are increasingly concerned about the qualifications of the people handling their money. Many of those concerns are being addressed by the financial services sector itself, says Hicks, who is dedicated to self-improvement.

She has taken several courses, including those for branch managers and options supervisors, and is working on an investment management techniques course.

@page_break@“The industry is frowning upon those who don’t have accreditation or the experience,” she explains. “It helps to weed out those who can’t provide the same level of service. That emphasis is only going to grow.”

Clients want reassurance that they have picked the right planner, and they want to understand what is happening in the investment community that might affect their money or their confidence.

Addressing such concerns, says Hicks, is at the heart of the work she does as a financial planner: investment is much more than “money in, money out.”

“Your filing cabinet has faces,” adds Hicks. “You know what is suitable for each client.”

Hicks is using that knowledge to transform her practice rapidly into a mature business file. She has identified a target clientele — people aged 35 to 45 with accumulated wealth who are still in savings mode but are gearing up for retirement. “I want clients in the earlier years,” Hicks says.

That goal is realistic, even though her province has an aging population, she says: “Newfoundland and Labrador has a growing economy. There are a lot of self-employed people here. They have to save for themselves.”

Hicks has another approach to business that has worked well for her: a positive attitude. “Enjoy what you’re doing,” she says, noting that when her desk groans under the weight of paper and deadlines loom, it is a good thing.

“It’s not more work,” Hicks says, “it is my work.”

That cheerful outlook is being passed on to, and infused by, her one-year-old son, Jaxon. Hicks describes herself as “very family-oriented,” and balances her work life with family time. She often spends time with her son and her husband, Steve, a pilot, at their cabin outside St. John’s. (“You guys would call it a ‘cottage’,” says the native Newfoundlander.) Here, the family snowshoes, rides trails and swims, depending on the season.

It was also at the cabin that Hicks was married in 2003. About 240 people turned out for the Hawaiian-themed wedding. And the faces of each guest are etched firmly in Hicks’s memory. IE