Michael Dorfman, an investment advisor with BMO Nesbitt Burns Inc. in Toronto, has developed a successful practice by catering to members of the entertainment industry. He offers these tips on developing a niche-based practice:

> “Choose a group whose values you share,” he says. If you enjoy working with your clients, your joy and enthusiasm will be reflected in your work.

> “Try to find a group that’s relatively underserved,” he says. Once you’ve chosen a group, go as deep into the community as possible: “Network like mad and develop collaborative relationships with other professionals who serve that industry.”

> Start with your existing book and ask yourself: Who are my favourite clients? Are they from a certain industry or from a particular ethnic background whose values I share?

> Does your background lend itself to a specialized field? If so, you have instant credibility. — LAURA BOBAK