Defining the Wealth Management Process

Intelligent investors often ask, “What is your wealth management process?” There is a system to our practice, and, when managing our clients’ assets, we adhere to it.

Below, you will find a brief overview of our six-step process.

  • Establish Client and Financial Consultant Relationships. The goal here is to get to know you. We will ask you for relevant financial data, assess your risk tolerance, and determine your financial goals and needs. All future decisions in the Wealth Management process will stem from this information.
  • Gather Data. We will identify your principal needs and work with you to prioritize both short- and long-term goals.
  • Analyze Current Positions. In an “observations meeting,” we will assess your current accounts and policies, looking closely for gaps or inconsistencies.
  • Present an Action Plan. Depending on your situation, we will draft a financial plan that may include an Investment Policy Statement, a thorough retirement income plan, or a detailed action plan.
  • Implement Plan. At this stage, we will make the investment decisions on a product level: Which mutual funds should you buy? Which insurance policy is best for you? What sort of annuity fits best with your situation?
  • Ongoing Review and Reporting. The final step in the Wealth Management process involves the ongoing monitoring of your portfolio. As time goes on, we will ensure that your assets remain diversified and that your objectives stay on track. Diversification does not assure a profit or protect against a loss in declining markets.
Wealth Management Process Graphic