This story is part of the “Helpers” series, which shares stories about the people making positive impacts in our community
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When most people hear the words “financial advisor,” they picture someone glued to a stock ticker, making high-stakes decisions about buying Tesla shares or pulling out of risky investments. But according to Mike Bissett, that’s only a small part of what the job really involves.
“Most people, when you say you’re a financial advisor or financial planner, think you pick stocks,” Bissett says. “The first thing out of their mouth is usually, ‘Okay, what’s a good thing to invest in right now? Should I buy Tesla?’ They don’t realize there’s a full scope to what we do, and there’s a lot more to somebody’s financial plan than just investments.”
While saving for retirement or other big goals is certainly a piece of the puzzle, Bissett emphasizes that a well-rounded financial plan goes much further. “It’s about cash flow. How are you actually spending your money? Can we dedicate more of it to your goals? Then there’s protection—because as much as a lot of people like the investment side, since that’s the sexy part, you still need to protect what you’re building.”
He explains it in simple terms: “If you don’t have any kind of protection and something happens to your income, that entire house of cards falls apart. You need something in place to keep you on your feet.”
For Bissett, a big part of his day-to-day work as a Financial Advisor in North Bay is helping clients adjust as life changes. “It’s about small tweaks as you go along,” he says. “As your life, income, or expenses change, we adjust the plan accordingly and keep doing check-ins. It’s not a set-it-and-forget-it kind of thing.”
That protection often involves insurance—something Bissett knows can spark strong reactions. He’s quick to acknowledge that for many people, insurance is a touchy subject.
“There’s definitely still a misconception about how insurance can and should be used in a financial plan,” he says. “Some people think the only kind of insurance is life insurance, where you pay into it and don’t see any benefit unless something happens. And it’s true—there are types like that. But to be frank, that type isn’t for you; it’s for your family. Because if your $50,000 or $100,000 a year of income suddenly disappears, your kids still have to go to hockey, the mortgage still has to get paid. That’s where it comes in.”
He points out that there are other types of coverage that can directly benefit the policyholder. “There are insurances that protect you. If you get sick or hurt, they give you money to help keep your life on track,” Bissett explains.
But he doesn’t push products. Instead, education is at the heart of his approach. “A big part of what I do is explaining what all these things are. There are so many products, so much information, and it can give people a headache trying to figure it all out. My job is to break it down and fit it to their needs. If they want it, we move ahead. If they don’t, that’s fine. At least now it’s an educated decision, not just a knee-jerk reaction to the word ‘insurance.’”
Bissett, who works out of the Port North Bay offices in the downtown core, says all the skepticism about insurance isn’t a generational thing.
“I don’t think it’s just generational because I see pro- and anti-insurance people in pretty much all age groups. I think a lot of people lump all insurance together. To them, life insurance is the same as auto insurance and is the same as renters’ insurance. And let’s be honest—we all have stories of an insurance company not wanting to pay out. But those stories stick in people’s minds way more than the ones where everything went smoothly.”
He pauses, then adds with a laugh, “Let’s face it—we’re more likely to spread negative stories. It’s juicier gossip. No one calls their buddy to say, ‘Hey, my broker was fantastic. One phone call and everything was fixed.’ That story doesn’t travel.”
In reality, many insurance companies have high payout rates. “There are life insurers with a 95% payout rate,” Bissett notes. “The other 5%? That’s usually because someone committed fraud on the application. It’s not some ridiculous technicality like ‘You passed away after midnight.’ But people don’t hear about that side.”
Ultimately, Bissett says his job is about helping clients take control of their financial futures without fear or confusion. “There’s a lot of noise out there. My role is to cut through it and make sure people understand their options, whether it’s investments, insurance, or just better budgeting. Once you understand how all the pieces fit together, it’s a lot less intimidating—and you can make decisions with confidence.”
It’s a perspective he brings to every client meeting, and one that has helped countless families build, grow, and protect their wealth over the years.
In times of global uncertainty, it’s easy for people to feel anxious about their finances. When markets dip and headlines scream about economic turmoil, many find themselves asking the same question: What should I do?
Bissett has heard that question countless times. As a financial advisor, his answer is grounded in simplicity and long-term thinking.
“One of the biggest things I try to press upon people is that you build all of your financial plans around a goal,” Bissett says. “You need to know the destination so you know which direction to take. If you focus on your longer-term goals, the day-to-day bumps in the road kind of balance themselves out over time.”
That perspective helps his clients tune out the noise of market volatility. “The storm we’re going through right now? We’ll recover. It always happens. There’s always some ‘end of the financial world’ crisis—whether it was the mortgage crisis in 2008 or the dot-com bubble in the early 2000s—but it never actually is the end. It’s the same today. If you keep your eyes on the long-term goal, you’ll come out the other side.”
When asked how much of his time is spent tracking global current events versus analyzing his clients’ situations, Bissett doesn’t hesitate.
“I probably spend more time gathering information from clients than I do from the funds themselves,” he says. “I’m not a stock picker. When I’m building a plan, it’s more important that I know you—your goals, your timeframes, what drives you, what you’re worried about. That’s more valuable than knowing whether we should be in Stock A or Stock B.”
Bissett works closely with investment firms that have entire teams of experts monitoring markets day and night. “They do that job,” he says. “My focus is on knowing which fund fits your situation and making sure your plan reflects your needs.”
For Bissett, success isn’t measured in stock performance charts or flashy investment portfolios. It’s found in the little victories he helps his clients achieve.
“I really like it when clients tell me they understand something they didn’t before,” he says. “There’s been several times where someone’s said, ‘Oh my God, I never realized that. Thank you for explaining it that way.’ Those moments are huge for me.”
He also takes pride in helping clients tackle everyday financial challenges, like paying down debt. “We put a plan together, dedicate funds, and work on their cash flow. When I hear back and they say, ‘Hey, I was able to pay this off. Thank you. Let’s take the next step,’ that’s incredibly satisfying.”
And sometimes the impact is even more personal. “I’ve had clients tell me they’re able to sleep at night a little better because they’re not worried about their finances anymore. That’s a win.”
Bissett says there’s another sign he’s doing his job right: referrals. “It might sound self-serving, but when a client sends me their friend or family member, it’s one of the biggest compliments I can get. They’re not going to recommend someone they don’t trust.”
So what’s the one thing individuals can do to set themselves up for financial success? Bissett breaks it down into two key actions.
“First, start your financial journey as early as possible. Don’t wait until you’re ‘making more money.’ If that’s your mindset, you’ll never feel like you have enough to start. Even if it’s just $25 a paycheque from your first job out of school, start now. Small amounts grow over time.”
“Second, automate whatever you can. Set up contributions to come out of your account on payday and go straight into savings or investments. That way, you don’t have to think about it. And it’s even better if it’s not with the same bank you do your day-to-day banking with—then it’s harder to dip into.”
For those considering a career as a financial advisor, Bissett offers candid advice. “You need to be good with people. A lot of people—including me, back in the day—think this job is all about numbers and picking stocks. It’s not. You’re helping people understand complicated concepts, and sometimes you’re having tough conversations about sensitive topics like illness, death, or divorce. You have to genuinely want to help people.”
He adds that while financial designations like a CFP (Certified Financial Planner) are valuable for credibility and deeper knowledge, you don’t need an economics degree to succeed. “I came from radio. What matters is building trust and showing people you care about their future.”
At the heart of Bissett’s approach is a focus on clarity and confidence. “There’s a lot of noise in the financial world—headlines, market swings, and endless product options. My job is to cut through that and help people focus on what they can control: their plan, their goals, and their habits.”
It’s a philosophy that has helped his clients weather more than a few storms—and keep moving toward the future they want.
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